IRDAI has urged general public to deal only with authorized agents and insurance companies to buy life and general insurance policies.
This has come after IRDAI has found a few fraudulent companies posing as insurance companies and insurance agents to sell unauthorized health policies. The insurance regulator has warned general public not to fall prey to these unauthorized agents and companies offering deep discounts on medical treatment and diagnostic tests.
The insurance regulator said, “Only the IRDAI registered insurance companies, or their authorized agents and intermediaries registered by IRDAI can sell insurance products. Individuals who avail such services from unauthorized persons or entities shall be doing so at their own risk.”
Further, IRDAI has also requested general public that they should contact insurance companies to ascertain credibility and genuineness of insurance policies and sales representatives before buying a policy.