IRDA Details

Is there anyone who will give details about Insurance Regulatory and Development Authority (IRDA)? Tell me where the Head Office of Insurance Regulatory and Development Authority (IRDA) located in India?

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The Insurance Regulatory and Development Authority of India (IRDAI) is an autonomous, statutary agency tasked with regulating and promoting the insurance and re-insurance industries in India.

It was constituted by the Insurance Regulatory and Development Authority Act, 1999.

Its headquarters are in Hyderabad, Telangana, where it moved from Delhi in 2001.

IRDAI is a 10-member body including the chairman, five full-time and four part-time members appointed by the government of India.

Functions of IRDAI:
Adjudicating disputes between insurers and intermediaries or insurance intermediaries
Supervising the Tariff Advisory Committee
Specifying the code of conduct for surveyors and loss assessors
Protecting policyholder interests
Regulating company investment of funds
Issuing, renewing, modifying, withdrawing, suspending or cancelling registrations
Promoting and regulating professional organisations connected with the insurance and re-insurance industry
Specifying the percentage of premium income to finance schemes for promoting and regulating professional organisations
Specifying how books should be kept
Specifying the form and the manner in which books of accounts shall be maintained, and statement of accounts shall be rendered by insurers and other insurer intermediaries.
Regulating rates, advantages, terms and conditions which may be offered by insurers not covered by the Tariff Advisory Committee under section 64U of the Insurance Act, 1938 (4 of 1938)
Specifying qualifications, the code of conduct and training for intermediaries and agents
Promoting efficiency
Specifying the percentage of life- and general-insurance business undertaken in the rural or social sector
Regulating a margin of solvency
Inspecting and investigating insurers, intermediaries and other relevant organisations
Levying fees and other charges

Products Offered:
Life Insurers
General Insurers
Health Insurers

TOP MANAGEMENT:
Chairman:
Mr.T S Vijayan

Member (Non-Life) Mr.P J Joseph, Member (Non-Life)
Member(Life) Mr.Nilesh Sathe, Member(Life)
Member(Actuary) Ms. Pournima Gupte, Member(Actuary)

Head Quarter:
Head Office :
Insurance Regulatory and Development Authority of India
3rd Floor, Parisrama Bhavan, Basheer Bagh HYDERABAD 500 004
Telangana State (INDIA )
Ph: (040) 23381100
Fax: (040) 6682 3334

Delhi Office:
Insurance Regulatory and Development Authority of India
Delhi Office Gate No. 3
Jeevan Tara Building, First Floor
Sansad Marg, New Delhi-110001
Ph: (011) - 2344 4400
Fax: (011) - 2374 7650

Mumbai Office:
Insurance Regulatory and Development Authority of India
Mumbai Regional Office
Royal Insurance Building
12, J. Tata Road, Ground Floor
Mumbai 400 020.
Near Churchgate)
Phone No.: 022- 22898600