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(a) a Chairman;
(b) five whole-time members;
(c) four part-time members,
(all appointed by the Government of India)
INCORPORATION OF AUTHORITY
(1)With effect from such date as the Central
Government may, by notification, appoint, there shall
be established, for the purposes of this Act, an
Authority to be called "the Insurance Regulatory and
Development Authority".
(2)The Authority shall be a body corporate by the
name aforesaid having perpetual succession and a
common seal with power, subject to the provisions of
this Act, to acquire, hold and dispose of property, both
movable and immovable, and to contract and shall, by
the said name, sue or be sued.
INCORPORATION OF AUTHORITY
i.Insurance Policy
ii. Claim form
iii. FIR, Fire Brigade Report
iv.Accounting statements like past 3 years Balance
Sheets, Stock Registers, Purchase and Sales invoices,
Sales tax returns, Excise duty records, Profit and Loss
accounts etc.
v.Act of God Perils - newspaper cuttings, photographs
and meteorological reports
CLAIMS DOCUMENT