Flash Notice Prominently Against Fake Calls: IRDAI to Insurers

To protect consumer's interest against spurious calls and fraudulent offers, Irdai has asked all life insurers to flash public notice prominently on homepage of their websites while TV commercials need to run the message for at least 5 seconds of space.

All life insurers will flash on their homepage of their websites, the public notice issued by the Insurance Regulatory and Development Authority of India (Irdai) read, cautioning the public about spurious calls and fictitious offers Also, they can insert the message in a box item prominently at the end of all their product advertisements in print media, including pamphlets and publicity material, to educate customers on the role of the regulator and also caution the public on such spurious calls, the circular said.

The public notice has been titled Beware of Spurious Phone Calls and Fictitious/Fraudulent Offers. Irdai clarified further that neither the regulator nor its officials are involved in activities like sale of any kind of insurance or financial products and nor do they invest premiums and announce any bonus. The public receiving such phone calls is requested to lodge a police complaint along with details of phone call and the number. At the end of TV ad/cinema hall advertisements of life insurance, the slide placed may be displayed continuously for a minimum period of five seconds, Irdai suggested. True translation in other Indian languages may also be used as per the need with due certification, the regulator added.