#1
21st December 2016, 10:56 AM
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Call from IRDA
Can you provide me the contact number of IRDA (Insurance Regulatory and Development Authority) Grievance Call Centre?
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#2
21st December 2016, 11:38 AM
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Re: Call from IRDA
Insurance Regulatory and Development Authority (IRDA) set up as autonomous body under the IRDA Act, 1999 to protect the interests of policyholders, to regulate, promote and ensure orderly growth of the insurance industry and for matters connected therewith or incidental thereto. The agency operates from its headquarters at Hyderabad, Telangana where it shifted from Delhi in 2001. It sought to raise the foreign direct investment (FDI) limit to 49% in the insurance sector from the current 26%. The FDI limit in insurance sector was later raised to 100% in June 2016. Contact Number Toll Free Number: 155255 (or) 1800 4254 732 Timings: 8 AM to 8 PM -- (Monday to Saturday) Functions and Duties of IRDA Section 14 of the IRDA Act, 1999 lays down the duties, powers and functions of IRDA. Registering and regulating insurance companies Protecting policyholders’ interests Licensing and establishing norms for insurance intermediaries Promoting professional organisations in insurance Regulating and overseeing premium rates and terms of non-life insurance covers Specifying financial reporting norms of insurance companies Regulating investment of policyholders’ funds by insurance companies Ensuring the maintenance of solvency margin by insurance companies Ensuring insurance coverage in rural areas and of vulnerable sections of society Organizational Structure Section 4 of IRDAI Act' 1999, specifies the composition of the Authority. It is 10 member body consisting of a chairman, 5 whole-time members and 4 part-time members, which are all appointed by the Government of India The members of the IRDA as of September 2016 are: • Chairman: T.S. Vijayan. • Whole-time members: P.J. Joseph, Nilesh Sathe, V.R. Iyer, Pournima Gupte, D.D. Singh |
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