The Insurance Regulatory and Development Authority of India has issued a notification dated 15 April 2026 delegating powers under Section 34 of the Insurance Act, 1938, in exercise of authority granted under Section 23(1) of the Insurance Regulatory and Development Authority Act, 1999. As approved in its 135th meeting held on 30 March 2026, the Authority has streamlined decision-making by distributing responsibilities between key officials. Specifically, the power to issue directions to insurers or insurance intermediaries in enforcement proceedings involving identified violations has been delegated to a panel of two Whole Time Members constituted by the Chairperson. Meanwhile, the power to issue directions on all other matters under Section 34 will remain with the Chairperson. This delegation aims to enhance administrative efficiency, ensure faster regulatory action, and strengthen enforcement mechanisms within the insurance sector by clearly demarcating authority for different categories of decisions.
INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA
NOTIFICATION
Hyderabad, the 15th April, 2026
F. No IRDAI /DoP/4/218/2026. – In exercise of the powers conferred by sub section (1) of section 23 of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999), the Authority in the 135th meeting held on 30.03.2026 has delegated its power under Section 34 of Insurance Act 1938.
The delegation of powers as approved by the Authority are as under:
| 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 |
J. MEENA KUMARI, Executive Director
[ADVT.-III/4/Exty./39/2026-27]
