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Old April 21st, 2016, 02:16 PM
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Default Insurance Regulatory And Development Authority Functions

Hello sir, I am Sanjay Mogra. I am from Mumbai. I want you to help me by giving me some information about the functions of the Insurance Regulatory and Development Authority of India (IRDAI). Can you help me?
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Old April 21st, 2016, 02:17 PM
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Default Re: Insurance Regulatory And Development Authority Functions

Insurance Regulatory and Development Authority of India (IRDAI) is a type
of an autonomous apex statutory body.

It was formed in the year 1999.

Itís headquarter is located in Hyderabad, Telangana, India.

It 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 and duly passed by the Government of

India



As you have asked about the functions of the Insurance Regulatory and
Development Authority of India (IRDAI, I am giving you some information
about it, check below for the details



Issue to the applicant a certificate of registration, renew, modify, withdraw,
suspend or cancel such registration;

Specifying the code of conduct for surveyors and loss assessors;

Promoting efficiency in the conduct of insurance business;

Promoting and regulating professional organisations connected with the
insurance and re-insurance business;

Regulating investment of funds by insurance companies;

Regulating maintenance of margin of solvency;

For more, you can refer to the image

IRDAI Powers and Functions

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