Motor Insurance advertisements issued by General Insurers on i) extra services of Third P

IRDAI vide reference no. IRDAI/NL/CIR/MISC/100/05/2022 has issued a Circular on ‘Motor Insurance Advertisements issued by General Insurers on i) extra services of Third Party Service Providers ii) discounts, savings amounts etc., dated May 13, 2022 (Circular).

IRDAI on perusal of advertisements released by general insurers identified certain instances which are inconsistent with the provisions of IRDAI (Insurance Advertisements and Disclosure) Regulations, 2021 dated April 7, 2021. Accordingly, Insurers are advised:

• to discontinue advertisement of certain assistance services which not related to insurance claims such as free pick up and drop of vehicle, body wash, interior cleaning, inspection of vehicle etc.
• to discontinue advertisement highlighting discount of motor premium based on extreme or exceptional scenarios with reference to comparison of rates of erstwhile tariff

Source category: IRDAI

Attachments

• /2022/38_MOTORI~1.PDF