1. PRESENTATION ON INSURANCE
REGULATORY & DEVELOPMENT
AUTHORITY
PRESENTED TO:
MANAGEMENT DEPARTMENT
PRESENTED BY:
REKHA RANI
MBA (3rd Sem.)
CT INSTITUTE OF MANAGEMENT AND
INFORMATION TECHNOLOGY , JALANDHAR
2. HISTORY
IRDA was setup in 2000 as an
autonomous body to regulate
and develop the business of
insurance and reinsurance in
the country as per the insurance
regulatory and development
authority act,1999.
The main objective of setting
up IRDA was to promote
market efficiency & ensure
consumer protection.
4. COMPOSITION OF AUTHORITY
IRDA is the controlling and
regulatory apex body in the
country for insurance sector and
its chairman and members are
appointed by Government of
India. IRDA’s HQ is located at
Hyderabad.
The Authority is a ten member
team of
I. a Chairman;
II. five whole-time members;
III. four part-time members,
(all appointed by the
Government of India)
5. DUTIES / POWERS / FUNCTIONS
Registration
Protection
Code of conduct
Efficiency
Information
Terms of business
Books of accounts
7. INSURERS UNDER IRDA
Type of
Business
Public
Sector
Private
Sector
Total
Life Insurance 1 23 24
General
Insurance
6 21 27
Re-insurance 1 0 1
Total 8 44 52