write note on insurance regulatory and development authority
Answers
Answer:
The Insurance Regulatory and Development Authority (IRDA) is a Statutory, autonomous and apex body to regulate the insurance sector in India. It was created upon the recommendations by the Malhotra Committee report of 1994. ... Therefore, IRDA was setup in 2000 as an autonomous body with its headquarters at New Delhi.
Answer:
Insurance Regulatory and Development Authority of India or the IRDAI (also referred to as IRDA) is a government body responsible for regulating and developing the insurance industry in India.
The Insurance Regulatory and Development Authority of India or the IRDAI is the apex body responsible for regulating and developing the insurance industry in India. It is an autonomous body. It was established by an act of Parliament known as the Insurance Regulatory and Development Authority Act, 1999. Hence, it is a statutory body.
The IRDAI is headquartered in Hyderabad in Telangana. Prior to 2001, it was headquartered in New Delhi.
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