Insurance Regulatory and Development Authority of India (IRDAI) is an autonomous apex statutory body which regulates and develops the insurance industry in India.

As you asking for Insurance Regulatory and Development Authority (IRDA) Functions and powers, so here I am telling for the same


Insurance Regulatory and Development Authority (IRDA) Functions and powers

IRDA issues the registration certificates to insurance companies and regulates them.

IRDA protects the interest of policy holders.

IRDA provides license to insurance intermediaries such as agents and brokers
after specifying the required qualifications and set norms/code of conduct for
them.

IRDA promotes and regulates the professional organisations related wIRDAh
insurance business to promote efficiency in insurance sector.

IRDA regulates and supervise the premium rates and terms of insurance covers.

IRDA specifies the condIRDAions and manners, according to which the
insurance companies and other intermediaries have to make their financial
reports.

IRDA regulates the investment of policyholder's funds by insurance companies.

IRDA also ensures the maintenance of solvency margin (company's abilIRDAy to
pay out claims) by insurance companies.

Addresses of Offices of IRDA

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