Insurance Regulatory and Development Authority of India (IRDAI)

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🍃The 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.

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

🎯Founded: 1999

🔺Headquarters: Hyderabad

🎯Chairperson: Subhash Chandra Khuntia

💈Functions:

📍Issuing, renewing, modifying, withdrawing, suspending or cancelling registrations
📍Protecting policyholder interests
📍Regulating company investment of funds
📍Regulating a margin of solvency
📍Supervising the Tariff Advisory Committee etc….

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