Is it not the responsibility of IRDA to protect the Insured?

Why Insured should look into such fine prints when IRDA can be an effective regulator and take care of the insured. The Insurance area itself is a fraud prone area and people are always taken for a ride. Doing business ignoring ethics and values has become the order of the day and the insurance companies whether they deal in life or other insurance are outsmarting all other businesses in taking the people for a ride. Even the educated and well informed people are duped by the insurance Companies and many silently suffer .Many are fighting endlessly to get justice. It is time IRDA conducts some surveys and get enough feed back on the need to be more effective in regulating the insurance companies.

Thiscomment appeared in Financial express dated 7/12/2015)