1. Members of public have been receiving a lot of spurious calls in the name of officials of Insurance Regulatory and Development Authority making fictitious and fraudulent offers. IRDA had issued a public notice on January 29, 2014 cautioning members of public to not fall prey to such offers.
2. Some new patterns of spurious calls are being reported by complainants. Incorporating the new kinds of calls in the name of officials of IRDA received by members of public, IRDA has issued a public notice on August 25, 2014 reiterating its caution to members of public to not fall prey to such spurious calls and fictitious offers.
3. IRDA has also shared the modus operandi used by one such spurious caller based on a complaint and provided links to the audio records of the spurious call to make members of public aware of the practices followed to cheat them (Spurious Call Audio 1, Spurious Call Audio 2)
4. IRDA is a regulatory body established by an Act of Parliament, i.e. the Insurance Regulatory and Development Authority Act 1999, to protect the interests of the policyholders, to regulate, promote and ensure orderly growth of the insurance industry and for matters connected therewith or incidental thereto. Further, IRDA has informed public that:
• IRDA does not involve directly or through any representative in sale of any kind of insurance or financial products.
• IRDA does not invest the premium received by insurance companies.
• IRDA does not announce any bonus for policyholders or insurers.
• IRDA has put in place Grievance Redressal Cell in Consumer Affairs Department, Integrated Grievance Management System and IRDA Grievance Call Centre to provide an alternate platform for registering grievances against insurers thereby facilitating resolution of customer grievances by insurers.
• IRDA or its officials dealing with Grievance Management do not make calls in relation to complaints lodged with IRDA as IRDA plays a facilitative role and does not adjudicate upon or investigate into such complaints
• Any person making any kind of transaction with such individuals/agents will be doing the same at their own risk.
5. IRDA has once again urged the public to remain alert and not to fall prey to frauds or scams perpetrated by miscreants who impersonate to be employees / officers of IRDA or other insurance companies.
6. IRDA advised that if any member of the public notices such instances, he or she may lodge a police complaint giving full details, along with the details of the caller and telephone number from which the call was received, in the local police station.
7. The public notice along with the audio clips has been placed on the web-site of IRDA (www.irda.gov.in) as well as on the consumer education website of IRDA (www.policyholder.gov.in)