The Insurance Regulatory and Development Authority of India (IRDAI) was established in 1999 by the Insurance Regulatory and Development Authority Act, 1999, an act of Parliament passed by the government of India.

The Insurance Regulatory and Development Authority of India (IRDAI) is an autonomous, statutory agency tasked with regulating and promoting the insurance and re-insurance industries in India.

The agency's headquarters are in Hyderabad, Telangana.

IRDAI is a 10-member body including the chairman, five full-time and four part-time members appointed by the government of India.

The functions of the IRDAI are defined in Section 14 of the IRDAI Act, 1999,[2] and include:-

Protecting policyholder interests

Issuing, renewing, modifying, withdrawing, suspending or cancelling registrations

Specifying qualifications, the code of conduct and training for intermediaries and agents

Specifying the code of conduct for surveyors and loss assessors

Promoting efficiency

Promoting and regulating professional organisations connected with the insurance and re-insurance industry

Levying fees and other charges

Inspecting and investigating insurers, intermediaries and other relevant organisations

Regulating rates, advantages, terms and conditions which may be offered by insurers not covered by the Tariff Advisory Committee under section 64U of the Insurance Act, 1938 (4 of 1938)

Specifying how books should be kept

Regulating company investment of funds

Regulating a margin of solvency

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