The Insurance Regulatory Development and Authority is the statutory and independent and apex body that governs and supervise the Insurance Industry in India.

IRDA duties and role:

It issues the registration certificates to insurance companies and regulates them.
It protects the interest of policy holders.

The IRDA Authority shall have the duty to regulate, promote and ensure orderly growth of the insurance business and re-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, nomination 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 efficiency in the conduct of insurance business;

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;

All rules and duties of IRDA:

Address:

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