Hello sir I want to know what are the Main Objectives of IRDA so here can you please give me its details ?

Hey as per my IRDA is Insurance Regulatory and Development Authority of
India and here I am giving you its details

IRDA

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

It was constituted by a Parliament of India act called Insurance Regulatory and Development Authority Act, 1999


Objectives of IRDA:

To ensure speedy settlement of genuine claims and to prevent frauds and
malpractices

To bring transparency and orderly conduct of in financial markets dealing
with insurance.

To promote the interest and rights of policy holders.

To promote and ensure the growth of Insurance Industry.

Functions of IRDA

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

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

It protects the interest of policy holders.

It provides license to insurance intermediaries such as agents and brokers
after specifying the required qualifications and set norms/code of conduct for
them.
It promotes and regulates the professional organisations related with
insurance business to promote efficiency in insurance sector.



Organisational structure

A Chairman - T.S. Vijayan

Five whole-time members - R.K. Nair, M. Ram Prasad, S. Roy Chowdhary,
D.D. Singh

Four part-time members - Anup Wadhawan, S.B. Mathur, Prof. V.K.Gupta, CA. Subodh Kr. Agarwal