WHAT IS INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA (IRDAI) ?

The Insurance Regulatory and Development Authority of India (Irdai) is an autonomous and statutory body which is responsible for managing and regulating insurance and re-insurance industry in India.
 
Irdai is a 10-member body- a chairman, five full-time members and four part-time members. It was constituted under an Act of Parliament in 1999 and the agency’s headquarters is in Hyderabad.

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