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

Organization 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


Roles of the IRDA :

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

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

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

Contact details :
Insurance Regulatory and Development Authority of India
3rd Floor, Parisrama Bhavan, Basheer Bagh HYDERABAD 500 004
Telangana State (INDIA )

Ph: (040) 23381100