Roles of IRDA

• To protect the policyholder’s interests.

• To help speed up the growth of the insurance industry in an orderly fashion, for the
benefit of the common man.
• To provide long-term funds to speed up the nation’s economy.
• To ensure genuine claims are settled faster and efficiently.
• To build a dependable management system to make sure high standards of
financial stability are followed by insurers.
• To promote transparency, fairness and systematic conduct of insurance in the
financial markets.
Duties & Responsibilities

• To regulate, promote and ensure orderly growth of the insurance business and re-
insurance business.
• To issue a certificate of registration and powers to renew, modify, withdraw, suspend
or cancel the registration.
• Protection of the interest of the policy holders.
• To specify qualifications, code of conduct and practical training for intermediaries.
• To specify the code of conduct for surveyors and loss assessors.