Insurance Regulatory and Development Authority of India (IRDAI)

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

­čöůIt was constituted by the Insurance Regulatory and Development Authority Act,1999,an Act of Parliament passed by the Government of India

­čÄ»Founded: 1999

­čö║Headquarters: Hyderabad

­čÄ»Chairperson: Subhash Chandra Khuntia

­čĺłFunctions:

­čôŹIssuing, renewing, modifying, withdrawing, suspending or cancelling registrations
­čôŹProtecting policyholder interests
­čôŹRegulating company investment of funds
­čôŹRegulating a margin of solvency
­čôŹSupervising the Tariff Advisory Committee etc….