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INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA Section 14 of IRDA Act, 1999 lays down the duties, powers and functions of Insurance Regulatory and Development Authority of India (IRDAI). Subject to the provisions of this Act and any other law for the time being in force, the Authority shall have the duty to regulate, promote and ensure orderly growth of the insurance business and reinsurance business. IRDAI promotes and regulates conduct of insurance business, professional organisations, levying fees and other charges, calling for information, control and regulation of the rates, advantages, terms and conditions that may be offered by insurers, specifying the form and manner in which books of account shall be maintained, investment of funds by insurance companies and maintenance of margin of solvency. Its emblem has a blue ‘i’ with a red dot representing the insurance sector and a person, which is supported and nurtured on both sides by grey structures. Below this

GENERAL INSURANCE COUNCIL The General Insurance Council has been constituted under section 64C of the Insurance Act, 1938 since 2001 by the Insurance Regulatory and Development Authority of India (IRDAI). The General Insurance Council is an important link between the Insurance Regulatory and Development Authority of India and the non-Life insurance industry. As per Section 64C of the Insurance Act, 1938 (and amended in January 2015) all general insurers, health insurers and reinsurers granted registration and licence by IRDAI to carry out business in India are members of the General Insurance Council. After the passage of the Insurance Laws (Amendment) Act in April 2015, GI Council is a Self Regulatory Organization for the non-life insurance industry’s market conduct and practices. Its emblem is a blue square diagonally placed and is intercepted by a human figure, which is supported on both sides by grey arrow heads. At the bottom is a banner with the tagline ‘Together We