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What is the full form of IRDA? In addition, what is the impact of it on insurance companies?

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by (225 points)

IRDA -  Insurance Regulatory and Development Authority of India

IRDA, a national agency was set up by the government if India with effect from April 1st, 2000

IRDA is involved in is bringing changes in the various  parts of the Insurance segment in India by method for frequent monitoring, guiding and directing over various happenings of the Insurance segment across the nation, which can be straightforwardly seen by analyzing at in the past situation of the Indian Insurance segment to the present situation

The IRDA impacts & adds value through the following,