Insurance Regulatory and Development Authority (IRDA) is a regulatory body established by an Act of Parliament to protect the interests of the policyholders, to regulate, promote and ensure orderly growth of the insurance industry and for matters connected therewith or incidental thereto. It has come to the notice of the IRDA that a company by the name and style of “Aetna Healthcare Networks (India)”, claiming to be a unit of “Aetna Inc., 151 Farmington Avenue, Hart Ford CT 06156, USA”, is selling health insurance and collecting money from the applicants subscribing to the same. The said entity is operating from the following address: “Vittal Malya Road, Bangaluru (Karnataka) - 560 001. The general public is hereby informed that the above named company has not been issued any license/certificate of registration by the IRDA under any of the provisions of the Insurance Act, 1938 and the IRDA Act, 1999, for carrying on the said business. Therefore, the issuance of such health insurance plans without obtaining the mandatory license or certificate of registration from the IRDA in terms of provisions of the Insurance Act, 1938 and the IRDA Act, 1999 amounts to a violation of the said statutes for which appropriate action, civil or criminal under the Insurance Act and the IRDA Act may be taken up by the IRDA against such company. In view of the above, the general public is hereby cautioned not to deal with or to purchase or subscribe to any of the plans stated to provide medicare health cover and/or life insurance benefit of the said company or through any person claiming to be its Agent/Advisor/Representative. Any person doing so would be acting at his/her own risk. Sd/- Date: 17th March 2010
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