GuideUpdated Nov 2026 · 1 min read
The IRDA Act, 1999
The law that created the regulator.
The Insurance Regulatory and Development Authority Act, 1999 set up the regulator, now known as IRDAI, to protect policyholders' interests and to regulate and promote the orderly growth of the insurance industry.
What It Did
- check_circleCreated the Authority.
- check_circleOpened the market to private insurers.
- check_circleGave the regulator powers to make regulations.
FAQs
What is the main duty of IRDAI?expand_more
To protect policyholders' interests and regulate the orderly growth of the industry.
When was the IRDA Act passed?expand_more
In 1999.
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