Function of Insurance Regulating Authority in India (IRDAI)
1. To regulate the rates, terms and Conditions of insurance, offered to their customer in general insurance business.
2. To regulate how insurance company invest their funds and maintain their margin of solvency.
3. To protect the policy holders.
4. To conduct investigation and Audits of insurance company and any other organization connected with insurance company.
5. Make guidelines & arrange trainings to agents.