Agency of the Government of India
http://www.irda.gov.in/Defaulthome.aspx?page=H1
The Insurance Regulatory and Development Authority (IRDA) is a national agency of the Government of India, based in Hyderabad, that regulates the insurance and re-insurance industry.
Key Facts
The mission of IRDA is "to protect the interests of the Policyholders, to regulate, promote and ensure orderly growth of the Insurance industry and for matters connected therewith or incidental thereto." Unit Linked Insurance Plans (ULIPs) are governed by IRDA, and not by the market regulator Securities and Exchange Board of India.
Additional Information
Duties, powers and functions of IRDA
Who it affects
Insurers, intermediaries and other organizations connected with the insurance business in India.
Wikipedia Entry
http://en.wikipedia.org/wiki/Insurance_Regulatory_and_Development_Authority