Insurance Regulatory and Development Authority (IRDA)

• IRDA is the controlling and regulatory apex body in the country for insurance sector.
• Head Quarters, Hyderabad.

Functions of IRDA

1. Registration of insurance companies.
2. Licensing of insurance intermediaries such as agents.
3. Monitoring all products including pricing of products, terms and conditions etc.
4. Supervision of functioning of the companies and intermediaries.