Insurance Concepts and IRDA [Insurance Regulatory and Development Authority] - Composition of IRDA
Composition of IRDA
The composition of IRDA (Insurance Regulatory and Development Authority), under section 4 of IRDA Act, 1999, signifies Authority.The Authority is a 10 member team who are appointed by the government of India. This 10 member team comprises of the following members:
(a) Chairman
(b) five whole-time members
(c) four part-time members
The IRDA regulations are enacted under the guidance of a statutory Advisory Committee.
Main Activities of IRDA
The main activities of IRDA can be grouped into the categories as enlisted below:
a) General
b) Intermediaries
c) Acturial
d) Administration & Operations
e) Financial Analysis
f) Analytical Research
References:
- Insurance Regulatory and Development Authority - (http://en.wikipedia.org/wiki/Insurance_Regulatory_and_Development_Authority)
- Insurance Regulatory & Development Authority (IRDA) - (http://www.banknetindia.com/finance/irda.htm)
- Insurance - (http://en.wikipedia.org/wiki/Insurance)
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Dr. Sameer Sippy. (2014, September 08). Insurance Concepts and IRDA [Insurance Regulatory and Development Authority] - Composition of IRDA. Medindia. Retrieved on Jan 02, 2025 from https://www.medindia.net/health/insurance/insurance-concepts-and-irda-composition.htm.
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