Insurance Regulatory and Development Authority of India (IRDAI) has cautioned people against rampant fraud and cheating by an entity by the name of Digital National Motor Insurance. The regulator warned in a notice that the company is selling policies without a license.
Despite lacking any license or registration to sell insurance policy of any kind, Bangalore-based Digital National Motor Insurance has been selling insurance policies, IRDAI added.
IRDAI, in the notice, said, "The Authority cautions the public not to make any transaction related to insurance business with M/s DIGITAL NATIONAL MOTOR INSURANCE."
"It has been brought to the notice of IRDAI that an entity by the name of 'DIGITAL NATIONAL MOTOR INSURANCE' operating from #DNMI co. ltd. Portal Office, Krishna Raja Puram, Insurance Info Building, Devasandra, Bangalore - 560036 having website https://dnmins.wixsite.com/dnmins and email id firstname.lastname@example.org has been selling insurance policies, although it has not been licensed or granted registration by the Authority to sell insurance policy of any kind," the IRDAI said.
The regulator has urged the public to remain alert and not to fall prey to fraud and cheating indulged in by the said entity.
The regulator has also launched several insurance awareness campaigns. Here's some of them:
'BimaBemisaal' is the brand name for IRDAI's insurance awareness campaign 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.
Radio Campaign: Jingles on Life Insurance, Property Insurance, Health Insurance, Motor Insurance, Misselling in Insurance, among others were broadcast across All India Radio and private FM Channels to create insurance awareness.
Television Campaign: IRDAI has undertaken a pan Indian campaign where Television Commercials cautioning the public on Spurious Callers were telecast on Doordarshan and Private Television channels.