Watch out for fake insurers, Irda tells public

Irda has asserted that it is a regulatory body not involved directly or indirectly in the sale of insurance and financial products. As such, it said complaints should be lodged against persons claiming to be its representative for the purpose of selling insurance policies.

“Any person making any kind of transaction with such individuals or agents will be doing the same at their own risk. If any member of the public notices such instances, he or she may lodge a complaint in the local police station,” Irda saidand has observed the public is receiving calls from individuals claiming to be Irda’s representatives, who offer insurance policies of different insurance companies with various benefits.