The Insurance Regulatory and Development Authority (IRDA) has changed its name to Insurance Regulatory and Development Authority of India.
The change of name was effected in the Insurance Laws (Amendment) Ordinance, 2014 was promulgated by the President of India on December 26, 2014.
The ordinance contains certain amendments to the Insurance Regulation and Development Act, 1999 and inserted the words “of India” after development authority.
``As a result of this Amendment, Insurance Regulatory and Development Authority has been renamed as Insurance Regulatory and Development Authority of India,’’ it said in a release.