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
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: Unmetadated — Note: original site listing metadata was unavailable for this record; date was inferred from notice text or system record.
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