The Insurance Regulatory and Development Authority of India ( “IRDAI / Authority” ) has issued a gazette notification on delegation of powers on April 21, 2024, bearing reference number IRDAI /DoP/4/218/2026, dated April 15, 2026 (“ Notification ”).
The Notification is issued in exercise of powers conferred under sub-section (1) of Section 23 of the IRDAI Act, 1999.
The key highlights of the Notification are as follows:
- The Authority in its 135th meeting held dated March 30, 2026 has delegated its powers under Secction 34 of the Insurance Act, 1938.
- Section 34 of the Insurance Act, 1938 outlines the power of the Authority to issue directions.
- The delegation of powers approved by the Authority are as follows:
| Section No. | Nature of Power | Power delegated to |
|---|---|---|
| Section 34 of the Insurance Act, 1938 | Issuance of directions to any insurer or insurance intermediary in particular, in an enforcement proceeding for identified violations. | Panel of two (2) Whole Time Members, constituted by the Chairperson |
| Section 34 of the Insurance Act, 1938 | Issuance of direction on any other matter under Section 34 of the Insurance Act, 1938. | Chairperson |
A copy of the Notification is attached herewith for your ready reference.
Source category: IRDAI
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