Insurance Regulatory and Development Authority of India (IRDAI)

The Insurance Regulatory and Development Authority of India (IRDAI) is the governmental agency that oversees and regulates the insurance industry in India. Its primary role is to ensure that insurance companies operate fairly, maintain financial stability, and protect policyholders' interests. IRDAI sets rules for insurers, grants licenses, and monitors their activities to promote healthy growth, competition, and transparency in the sector. By doing so, it helps ensure that consumers have access to reliable insurance products and funds are managed securely.