Insurance Lawyers

Insurance Lawyers

Insurance Laws in India

Find Insurance Laws expert lawyer in India.

What is Insurance

What are Insurance Laws?

Who is an Insurer?

Who is an Insured?

What areas are covered by the Insurance Laws?

Vidhikarya will help you find a most suitable lawyer, for you in your city, who will be able to answer all your Insurance Laws related queries and also guide you on how to resolve this matter with ease.

About the Insurance Laws

As per Black’s law dictionary, insurance refers to a contract whereby, for a stipulated consideration, one party undertakes to compensate the other for loss on a specified subject by specified perils. The party agreeing to make the compensation is usually called the “insurer” or “underwriter;” the other, the “insured” or “assured;” the agreed consideration, the “premium;” the written contract, a “policy;” the events insured against, “risks” or “perils;” and the subject, right, or interest to be protected, the “insurable interest.”

What are the applicable laws to the Insurance Sector?

o The Motor Vehicles Act 1988

o The Insurance Laws (Amendment) Act 2015

o Insurance Act 1938

Some important governance of Insurance Laws

o Insurance Act 1938 – it is the essential law relating to insurance which prescribes the procedures and requirements to agree to by insurance organizations while doing the business of insurance and re-insurance. It likewise prescribes the arrangements relating to insurance affiliations, chambers and councils.

o The Motor Vehicles Act 1988 – it prescribes the arrangements related to the 3rd party insurances to be gotten by motor vehicle proprietors and furthermore the obligations of the insurers towards outsiders in instances of accidents.

o The Insurance Rules 1939 – accommodates licensing of different delegates and arrangement of different panels and the compliances to be seen by insurance organizations while working in the matter of insurance.

o Insurance Regulatory and Development Authority (IRDA) Act 1999, And, The IRDA Rules & Regulations – the obligations, powers and elements of the IRDA have been indicated under Section 14 of the IRDA Act 1999. The IRDA has the obligation to advance, regulate and ensure methodical development of the insurance and re-insurance business crosswise over India, subject to the arrangements of this Act and some other law being in compel. This Act additionally sets out the Code of Conduct for insurance delegates.

o The Insurance Laws (Amendment) Act 2015 – this amendment has been achieved with an expectation to help the insurance part in India. The most essential amendment delivered by the Act, its point is to build the FDI top in insurance companies in India from 26% to 49%.

o Foreign Exchange Management (Insurance) Regulations 2000 – grants a person resident in India to take or keep on holding a life insurance policy issued by an insurer outside India, gave that the policy is held under a specific or general authorization of the Reserve Bank of India. It likewise allows a man resident in India to keep on holding any life insurance policy by an insurer outside India when such individual was resident outside India, with no consent of the RBI

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Search Result : Expert Insurance Lawyers

Consult Expert Insurance Lawyers in India

Advocate Abhimanyu Shandilya Best Insurance Lawyer

Abhimanyu Shandilya

Kolkata |

Area of Practice

  • Insurance
  • Criminal
  • Anticipatory Bail
  • Military Laws
  • Adoption
Total Answers Given : 3210 View All Answers
Advocate Advocate Anik Best Insurance Lawyer

Advocate Anik

Bangalore |

Area of Practice

  • Insurance
  • Consumer Protection
  • Admiralty and Maritime
  • Arbitration and Mediation
  • Child Custody
Total Answers Given : 12745 View All Answers
Advocate Prithvi Raj Sikka Best Insurance Lawyer

Prithvi Raj Sikka

Delhi |

Area of Practice

  • Insurance
  • Intellectual Property, Copyright, Patent, Trademar
  • Civil
  • Writ
  • Family
Total Answers Given : 19 View All Answers
Advocate Anish Palkar Best Insurance Lawyer

Anish Palkar

Mumbai | Thane | Mumbai suburban | Navi Mumbai | Mumbai City |

Area of Practice

  • Insurance
  • Divorce
  • Contracts and Agreements
  • Civil
  • Debt Collection
Total Answers Given : 883 View All Answers
Advocate Shrikrushna Tambde Best Insurance Lawyer

Shrikrushna Tambde

Nagpur |

Area of Practice

  • Insurance
  • Arbitration And Mediation
  • Child Custody
  • Criminal
  • Divorce
Advocate Meenakshi Periyahkaruppan Best Insurance Lawyer

Meenakshi Periyahkaruppan

Chennai |

Area of Practice

  • Insurance
  • Divorce
  • Child Custody
  • Cyber, Internet, Information Technology
  • Trust and Society (NGO)
Total Answers Given : 328 View All Answers
Advocate Jaswan Singh Katariya Best Insurance Lawyer

Jaswan Singh Katariya

Gurgaon |

Area of Practice

  • Insurance
  • Adoption
  • Will
  • Mutual Consent Divorce
  • Documentation
Total Answers Given : 15 View All Answers