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Regulatory Activities:
a. Suggest the government on formulation of insurance policy,
b. Draft insurance Acts & Regulations as per best practice,
c. Develop and amend the Insurance related directives,
d. Develop and amend investment Guidelines for insurers,
e. Approve the terms and conditions of new products,
f. Issue and renew the license of Insurers, Surveyors, Insurance Agents and Brokers.
Supervisory Activities:
a. Off-site inspection,
b. On-site inspection (full scope and focused),
c. Formulation of supervisory frame works,
d. Legal action against Insurers, Surveyors, Insurance Agents and Brokers.
Development Activities:
a. Public awareness activities,
b. Human resource development activities (training, workshop, seminar talk programs etc.
c. International relations in insurance through IAIS, ICDC, SAIRF, etc.
Semi-judiciary activities:
a. To arbitrate in the dispute which arises between the Insurer and the Insured,
b. To make decision on the complaints filed by the Insured against the Insurer regarding to the settlement of liability of the Insurance.
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Who is regulatoryauthoriity in insurance?
Insurance Regulatory Development Authority (IRDA) is the regulatory authority in Insurance India. Similiar body exists in insurance all over the world.
What is the fullform of irda?
Insurance Regulatory and Development Authority
Who is the chairman of Insurance Regulatory Development Authority?
c.s.rao
What is the form of IRDA?
Insurance Regulatory and Development Authority
Which country's regulatory insurance authority is SIC?
USA
What is IRDA stands for?
Insurance Regulatory and Development Authority
What is the role of IRDA?
IRDA - Insurance Regulatory & Development Authority of India is the National Agency that governs and supervises the Insurance Sector in India. What SEBI is to the Stock Markets, IRDA is to the Insurance industry.
Full form of IRDA?
Insurance Regulatory and Development Authority
Which agency regulates the insurance markets in India?
IRDA - = Insurance Regulatory and Development Authority =
Which organisation regulates all insurance companies in India?
IRDA (insurance regulatory and development authority)
Who regulates the insurance sector in India?
Insurance sector in India is regulated by 'Insurance Regulatory Development Authority (IRDA).
What are the challenges facing insurance regulatory authority?
In fact, the insurance regulatory authority has to look after the interests of both Insurance Company and the insured persons. While policy matters are formulated to such an extent that the insurers are not loosers vis a vis the insured persons are not deprieved of their fundamental rights in getting claims while in distress. This dual challenges post enorous responsibility on the insurance regulatory authorities.
