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:
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a) General
b) Intermediaries
c) Acturial
d) Administration & Operations
e) Financial Analysis
f) Analytical Research
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