On April 13, 2022, the Insurance Regulatory and Development Authority of India (Irdai) issued a public interest notice warning against purchasing health insurance policies from an unauthorized and unregistered website, even. in. The name of the entity is “Even Healthcare Pvt Ltd”.
The regulator further clarified that the policies offered by Even Health are not health insurance schemes and that said entity is not registered with Irdai.
The public notice issued by Irdai via circular stated: “It has come to the attention of Irdai that an entity named ‘Even Healthcare Pvt Ltd’, which has a registered office at No. 311 6th Main Road, HAL 2nd Stage, Indira Nagar, Bengaluru, Karnataka- 560038, and a website www.even.in, offers health plans This is to inform the public that the plans offered by Even Health are not plans health insurance and that said entity is not an Irdai registered entity. The public subscribing to these ‘Even Healthcare Pvt Ltd’ plans are advised to note that they transact at their own risk.”
“It is clarified that only insurance companies registered with Irdai or their appointed insurance agents and insurance intermediaries can sell insurance products. The public is urged to exercise caution when dealing with unregulated entities and avail of health insurance products and services from Irdai-registered insurance companies,” the insurance regulator said.
The list of insurance companies registered with Irdai can be accessed at https://www.irdai.gov.in/ADMINCMS/cms/NormalData_Layout.aspx?page=PageNo264&mid=3.2.10, said the regulator.
The regulator issues public interest notices warning the public not to purchase health and life insurance policies from “fake” or “unregistered” websites from time to time. Furthermore, in order to protect the interests of consumers against fake calls and fraudulent offers, Irdai also requires life insurers to prominently display public notices on their websites. At the same time, television commercials must carry the message for at least 5 seconds of space.