The Insurance Regulatory & Development Authority of India (IRDAI) has issued a public notice alerting the general public about an unregistered entity called Bhartiya Cooperative General Insurance Limited. The notice emphasizes that this entity is not authorized to undertake insurance business or solicit insurance policies. The IRDAI cautions the public against engaging in any insurance transactions with Bhartiya Cooperative General Insurance Limited.
Analysis: The notice serves as a warning to the public about a potentially fraudulent entity that claims to offer insurance services, particularly Crop Insurance. The IRDAI clarifies that no registration has been granted to Bhartiya Cooperative General Insurance Limited, and the entity’s activities may be unauthorized and deceptive. By issuing this notice, the IRDAI aims to protect the public from falling victim to scams or fraudulent insurance practices.
Conclusion: It is crucial for the general public to be cautious and vigilant when engaging in insurance transactions. The IRDAI’s public notice regarding Bhartiya Cooperative General Insurance Limited serves as a warning to avoid dealing with this unregistered entity. By staying informed and adhering to the guidelines and warnings issued by the IRDAI, individuals can protect themselves from potential fraud and ensure they engage in insurance transactions only with authorized and trustworthy entities.
Insurance Regulatory & Development Authority
Ref No: IRDAI/NL/PNT/MISC/140/6/2023 Dated: 28/06/2023
PUBLIC NOTICE
Caution to General Public on un-registered entity by name Bhartiya Cooperative General Insurance Limited.
IRDAI would like to bring to general notice that no registration has been granted to “Bhartiya Cooperative General Insurance Limited” for undertaking insurance business or solicitation of insurance business.
It has been brought to the notice of IRDAI that the said entity by the name “Bhartiya Cooperative General Insurance Limited” (having website address of www.bharatinsurance.org) is possibly soliciting insurance policies especially Crop Insurance etc., from the public. The general public are hereby advised not to undertake any transaction related to insurance business with “Bhartiya Cooperative General Insurance Limited”.
(A. Ramana Rao)
Chief General Manager (Non-Life)
