What is one of the roles of IRDA in relation to

Solution

Explanation: Key Roles of IRDA: Licensing and Registration: IRDA is responsible for granting licenses to insurance companies, insurance intermediaries (such as insurance brokers and agents), and other insurance-related entities. It sets eligibility criteria, conducts examinations, and issues registrations to ensure the competence and integrity of market participants. Regulation and Oversight: IRDA regulates and supervises insurance companies operating in India. It issues licenses to insurance companies, monitors their financial stability, and ensures compliance with regulations and guidelines. IRDA's role is to maintain stability and integrity in the insurance market while safeguarding the interests of policyholders. Policyholder Protection: IRDA focuses on the protection of policyholders' rights and interests. It establishes regulations related to policy terms, conditions, and claims settlement practices. IRDA ensures that insurance companies operate fairly and transparently, provide accurate information to policyholders, and handle claims promptly and fairly.