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Insurance Regulatory and Development Authority
"M I S S I O N"
To protect the interests of the policyholders, to regulate, promote and ensure orderly growth of the insurance industry and for matters connected therewith or incidental thereto.
About IRDA RDA :-
Duties,Powers and Functions of IRDA
Section 14 of IRDA Act, 1999 laysdown the duties, powers and functions of IRDA..(1) Subject to the provisions of this Act and any other law for the time being in force, the Authority shall have the duty to regulate, promote and ensure orderly growth of the insurance business and re-insurance business.
(2) Without prejudice to the generality of the provisions contained in sub-section (1), the powers and functions of the Authority shall include,
- issue to the applicant a certificate of registration, renew, modify, withdraw, suspend or cancel such registration;
- protection of the interests of the policy holders in matters concerning assigning of policy, nomination by policy holders, insurable interest, settlement of insurance claim, surrender value of policy and other terms and conditions of contracts of insurance;
- specifying requisite qualifications, code of conduct and practical training for intermediary or insurance intermediaries and agents;
- specifying the code of conduct for surveyors and loss assessors;
- promoting efficiency in the conduct of insurance business;
- promoting and regulating professional organisations connected with the insurance and re-insurance business;
- levying fees and other charges for carrying out the purposes of this Act;
- calling for information from, undertaking inspection of, conducting enquiries and investigations including audit of the insurers, intermediaries, insurance intermediaries and other organisations connected with the insurance business;
- control and regulation of the rates, advantages, terms and conditions that may be offered by insurers in respect of general insurance business not so controlled and regulated by the Tariff Advisory Committee under section 64U of the Insurance Act, 1938 (4 of 1938);
- specifying the form and manner in which books of account shall be maintained and statement of accounts shall be rendered by insurers and other insurance intermediaries;
- regulating investment of funds by insurance companies;
- regulating maintenance of margin of solvency;
- adjudication of disputes between insurers and intermediaries or insurance intermediaries;
- supervising the functioning of the Tariff Advisory Committee;
- specifying the percentage of premium income of the insurer to finance schemes for promoting and regulating professional organisations referred to in clause (f);
- specifying the percentage of life insurance business and general insurance business to be undertaken by the insurer in the rural or social sector; and
- exercising such other powers as may be prescribed.
IRDA Head office :
Insurance Regulatory and Development Authority
3rd Floor, Parisrama Bhavan, Basheer Bagh HYDERABAD 500 004
Andhra Pradesh (INDIA ).
Non-Life Insurers
S.NO |
NAME OF THE COMPANY |
1.
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Bajaj Allianz General Insurance Co. Ltd.
GE Plaza, Airport Road, Yerawada, Pune411 006.
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2.
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ICICI Lombard General Insurance Co. Ltd.
Zenith House,
Keshavrao Khade Marg,Mahalaxmi
MUMBAI-400 034.
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3.
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IFFCO Tokio General Insurance Co. Ltd.
4 and 5th Floors, IFFCO Tower, Plot No.3, Sector 29,
GURGAON-122001
(Haryana)
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4.
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National Insurance Co.Ltd.
3, Middleton Street, P.B. No. 9229, KOLKATA 700 071.
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5.
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The New India Assurance Co. Ltd.
New India Assurance Bldg. 87, M.G. Road, Fort,
Mumbai 400 001.
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6.
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The Oriental Insurance Co. Ltd.
A-25/27, Asaf Ali Road
New Delhi 110 002.
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7.
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Reliance General Insurance Co. Ltd.
570, Naigaum Cross Road ,
Next to Royal Industrial Estate, Wadala(West),
MUMBAI – 400 031 |
8.
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Royal Sundaram Alliance Insurance Co. Ltd
"Sundaram Towers" 45-46, Whites Road, Royapetah
CHENNAI-600 014.
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9.
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Tata AIG General Insurance Co. Ltd.
Peninsula Corporate Park,
Nicholas Piramal Tower, 9th Floor
Ganpatrao Kadam Marg
Lower Parel
MUMBAI 400 013. |
10.
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United India Insurance Co. Ltd.
24, Whites Road
CHENNAI – 600 014.
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11. |
Cholamandalam MS General Insurance Co. Ltd.
"Dare House" 2nd Floor, New No.2 (Old No. 234) N.S.C. Bose Road,
Chennai - 600 001
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12. |
HDFC ERGO General Insurance Co. Ltd.
6th Floor, Leela Business Park, Andheri Kurla Road,
Andheri (East),
Mumbai - 400 059.
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13. |
Export Credit Guarantee Corporation of India Ltd.
10th Floor, Express Towers,
Nariman Point,
Mumbai – 400021
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14. |
Agriculture Insurance Co. of India Ltd.
13th Floor, 14 K.G. Marg,
Connaught Place,
New Delhi - 110001 |
15. |
Star Health and Allied Insurance Company Limited
No.1, New Tank Street,
Vlluvarkottam High Road,
Nungambakkam,
Chennai - 600 034
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16. |
Apollo DKV Insurance Company Limited
Building No. 10B,
10th Floor
DLF Cybercity
Gurgaon 122001
Haryana, India
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17. |
Future Generali India Insurance Company Limited
001, Trade Plaza, Ground Floor,
414, Veer Sarvarkar Marg,
Prabhadevi, Mumbai 400 025 |
18 |
Universal Sompo General Insurance Co. Ltd.
310-311, Trade Centre,
Opp. MTNL Building,
Bandra Kurla Complex,
Bandra(E)
Mumbai-400 051.
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19 |
Shriram General Insurance Company Limited,
Greams Dugar,
5th Floor, No.-149,Greams Road,
Chennai-600 006
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20 |
Bharti AXA General Insurance Company Limited
RMZ Infinity, Tower B, II Floor,
Old Madras Road,
Bangalore – 560016 |
21 |
Raheja QBE General Insurance Company Limited,
Commerz, 10th Floor,
International Business Park,
Oberoi Garden City,
Western Express Highway,
Goregaon (East),
Mumbai-400 063. |
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