Beware of cyber frauds in insurance: IRDAI

CYber Fraud in Insurance in India

The Insurance Regulatory and Development Authority of India (IRDAI) has cautioned the general public about cyber fraudsters in insurance. “There are occasional reports of fraudsters offering insurance with unusually low premium from fake entities through online and digital mode. The public are hereby cautioned not top fall prey to such offers,” the regulator said in a release on Monday.

Insurance should be bought only from insurers and intermediaries registered with the IRDAI and the agents duly appointed by the insurance companies, it said. The approved list of insurers and intermediaries can be checked from IRDAI’s portal, while agents’ authenticity can be verified from the portals of respective insurers, the release said.

“The customer should take due care and and verify the genuineness of the website, insurer, intermediary and agents before making any online payment,” the regulator said

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