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Insurance Regulatory and Development Authority (IRDA)
June 07 , 2012

The Insurance Regulatory and Development Authority (IRDA) is the regulator for the insurance industry in India. It is empowered by the Indian Parliament to make rules regarding various aspects of the life and general insurance industry - rules for brokers, insurance companies, protection of consumers, etc.

As with other regulators, IRDA has a two pronged agenda: one is to facilitate the growth of the insurance industry by ensuring competition and fair play. The other is to protect consumers from mis-selling and unfair industry practices by having disclosure norms and dispute settlement procedures.

IRDA is based at Hyderabad, and is currently headed by Mr. T S Vijayan.

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