IRDAI Regulation & Solvency Margin

IRDAI composition, statutory Solvency Ratio (minimum 150%), Bima Sugam portal, and Corporate Governance guidelines for insurers.

Target: EPFO APFC 2026•Topic-Level RAG Context Active•Model: Nemotron 3.5 Lightning 30B / 120B

Topic Overview

IRDAI composition, statutory Solvency Ratio (minimum 150%), Bima Sugam portal, and Corporate Governance guidelines for insurers.

Key Syllabus Concepts

IRDAI Act 1999: Statutory body regulating Insurance & Reinsurance in India
Solvency Ratio: Ratio of available solvency margin to required solvency margin (Mandatory minimum 1.5 or 150%)
Bima Sugam: Digital one-stop marketplace for insurance sales, service, and claim settlement
Insurance Ombudsman Scheme: Dispute resolution for claims up to ₹50 Lakhs

High-Yield Important Points & Rules

💡 Insurance companies in India must maintain a minimum Solvency Ratio of 150% (1.50) at all times.
💡 IRDAI is headquartered in Hyderabad, Telangana.

Historical UPSC EPFO PYQ Relevance

3 Matched PYQs

2025•EPFO APFC•General Ability Test• Q.83

Full Question

Mr. X earns wages of ₹20,000 per month. What will be the contributions to the ESI Scheme under the Employees' State Insurance Act, 1948?

2025•EPFO APFC•General Ability Test• Q.84

Full Question

Which one of the following is not a benefit provided to an employee under the Employees' State Insurance Act, 1948?

2025•EPFO APFC•General Ability Test• Q.94

Full Question

In which one of the following circumstances, can Ms. 'X', who is a government servant not claim maternity benefit of twenty-six weeks as prescribed under the Maternity Benefit Act, 1961?

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