About IRDAI: Regulating and Promoting Insurance in India
Our company Policywings Insurance Broking Private limited is governed by the Insurance Broking regulations 2018 issued by The Insurance Regulatory and Development Authority of India (IRDAI).
The Insurance Regulatory and Development Authority of India (IRDAI) is the regulatory body overseeing the insurance sector in India. It comes under the Finance Ministry of Government of india.
Established in 1999, IRDAI is responsible for regulating and supervising insurance companies to ensure fair practices, consumer protection, and stability in the insurance industry.
It sets guidelines and norms for insurance companies to operate, issue licenses, and monitor their financial performance.
IRDAI plays a crucial role in safeguarding the interests of policyholders and promoting the growth and development of the insurance sector in India.
The esteemed regulator is very active in solving the greivances of policyholders. It has appointed an Ombudsman who acts as the final arbiter in disputes that arise from time to time between insurance customers and insurance companies.
IRDAI is based out of Hyderabad ( Andhra Pradesh). It’s current Chairman is Shri Debashish Panda.
You can visit the IRDAI website and read detailed information about the regulator and its activities at https://irdai.gov.in/home.
Latest Blogs
Introduction At the time of renewing or buying car insurance, people generally have two main options in front of...
Introduction A lot of people treat insurance as a last-minute purchase and buy it only because it feels necessary in...
Whether it’s a little scratch or a big accident, a car insurance claim can save time, money and a...
Before buying term insurance, most people ask how much cover do they really need. You can’t buy a plan...
Introduction Insurance planning is not a challenge but can surely feel confusing with so many options, terms and mixed...
Introduction A lot of people treat insurance as a last-minute purchase and buy it only because it feels necessary...
Insurance is a financial protection that secures your family, health and assets against unexpected events. The market today is...
With every year, healthcare is becoming more expensive. Whether it’s a routine check-up or a surgery, medical bills are...
