Insurance Regulatory and Development Authority - IRDA


 
 
Concept Explanation
 

Insurance Regulatory and Development Authority of India (IRDA)

  • The IRDA has changed its name to IRDAI. The change of name was effected in the insurance laws (Amendment) Ordinance, 2014 and was promulgated by the President of India on 26th Dec 2014. IRDAI was established in the year 1999, by the Indian Government, for two reasons - to safeguard the interest of the policy holders and for the up gradation of the entire insurance sector. Right from the approach adopted by the existing insurance companies towards their shareholders to the eradication of the shortcomings of the industry. The organization was setup under the guidelines of the Insurance Regulatory and Development Authority Act, 1999.
  • .... (More Text Available, Login?)
     
     


    Students / Parents Reviews [10]