The Insurance Regulatory and Development Authority of India (Irdai) has issued a notice warning the public against buying motor insurance policies from the fake website Digital National Motor Insurance with email id: email@example.com.
The insurance regulator clarified that Digital National Motor Insurance has been selling motor insurance policies, although it has not been licensed or granted registration by the regulator to sell insurance policies of any kind.
The insurance regulator has been constantly making public cautioned against spurious calls and fictitious offers.
Considering the fact that several complaints were received from members of the public relating to spurious calls and fictitious offers involving insurance products, IRDAI launched a multipronged campaign to caution members of the public through print, electronic and social media platforms and by way of specific directions to insurers to incorporate the caution in their publicity material in policy-related advertisements as well as advertisements in print, electronic media, and Television,” said the Irdai annual report.
The regulator has also launched several insurance awareness campaigns. Some of them are:
‘BimaBemisaal’ is the brand name for Irdai’s insurance awareness campaign. It is a consumer education initiative and has the tagline “Promoting Insurance. Protecting Insured”. BimaBemisaal educates policyholders about their rights and obligations and informs them about the complaint resolution methods available to them. It also creates awareness about insurance among the general public.
Television Campaign: Irdai has undertaken a pan Indian campaign where Television Commercials (TVCs) cautioning the public on Spurious Callers were telecast on Doordarshan and Private Television channels.
Radio Campaign: Radio Jingles on Life Insurance, Property Insurance, Health Insurance, Motor Insurance, Misselling in Insurance, etc. were broadcast across All India Radio and other private FM Channels throughout the country for the purpose of creating insurance awareness, as per the Irdai annual report.
Previous Blog: Understanding REIT: https://shahfin.com/understanding-real-estate-investment-trust-reit/