INTRODUCTIONThe IRDA (Insurance Regulatory and Development Authority) is the national regulatory body for Insurance industry (both Life and Non-Life Insurance Companies) under the auspices of Government of India, situated at Hyderabad.

IRDA was established by an act enacted in Indian Parliament known as IRDA Act 1999 and was amended in 2002 to in corporate some emerging requirements as well as to over come some deficiencies in the entire process.

MISSIONa) To protect the interests of the policyholdersb) To promote, regulate and ensure orderly growth of the insurance industry and formatters connected therewith or incidental theretoc) Conduction of insurance businesses acrossIndia in an ethical manner