Insurance Regulatory and Development Authority - IRDA


 
 
Concept Explanation
 

Insurance Regulatory and Development Authority - IRDA

Insurance Regulatory and Development Authority (IRDA):

The Insurance Regulatory and Development Authority (IRDA) is a national agency of the Government of India and is based in Hyderabad (Andhra Pradesh). It was formed by an Act of the Indian Parliament known IRDA Act 1999, which was amended in 2002 to incorporate some emerging requirements. The mission of IRDA as stated in the act is "to protect the interests of the policyholders, to regulate, promote and ensure orderly growth of the insurance industry."

 
 


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