Insurance Regulatory and Development Authority of India (IRDAI) is an autonomous apex statutory body constituted by a Parliament of India act called Insurance Regulatory and Development Authority Act, 1999

It regulates and develops the insurance industry in India.

The agency operates from its headquarters at Hyderabad, Telangana.

Duties, powers and functions of IRDAI

The Authority shall have the duty to regulate, promote and ensure orderly growth of the insurance business and re-insurance business.

Promoting efficiency in the conduct of insurance business

Issue to the applicant a certificate of registration, renew, modify, withdraw, suspend or cancel such registration

Protection of the interests of the policy holders in matters concerning assigning of policy

Selection by policy holders, insurable interest, settlement of insurance claim, surrender value of policy and other terms and conditions of contracts of insurance;

Specifying requisite qualifications, code of conduct and practical training for intermediary or insurance intermediaries and agents specifying the code of conduct for surveyors and loss assessors;

Promoting and regulating professional organisations connected with the insurance and re-insurance business;

Levying fees and other charges for carrying out the purposes of this Act

Regulating investment of funds by insurance companies

Regulating maintenance of margin of solvency

Adjudication of disputes between insurers and intermediaries or insurance intermediaries

exercising such other powers as may be prescribed

Contact-

Head Office :

Insurance Regulatory and Development Authority of India
3rd Floor, Parisrama Bhavan, Basheer Bagh HYDERABAD 500 004
Telangana State (INDIA )
Ph: (040) 23381100
Fax: (040) 6682 3334

Delhi Office:

Insurance Regulatory and Development Authority of India
Delhi Office – Gate No. 3
Jeevan Tara Building, First Floor
Sansad Marg, New Delhi-110001
Ph: (011) - 2344 4400
Fax: (011) - 2374 7650

Mumbai Office:

Insurance Regulatory and Development Authority of India
Mumbai Regional Office
Royal Insurance Building
12, J. Tata Road, Ground Floor
Mumbai 400 020.
Near Churchgate)
Phone No.: 022- 22898600