IRDAI:
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IRDA is an apex statutory body that regulates and develops insurance industry in India.
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It was constituted as per provisions of Insurance Regulatory and Development Authority Act, 1999.
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Its headquarter is in Hyderabad.
Functions of IRDA
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Protect the rights of insurance policy holders.
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Provide registration certification to life insurance companies
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Renew, modify, cancel or suspend this registration certificate as and when appropriate; promote efficiency in conduct of insurance business
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Promote and regulate professional organisations connected with insurance and reinsurance business; regulate investment of funds by insurance companies
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Adjudication of disputes between insurers and intermediaries or insurance intermediaries.