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Consult and get Expert Advice on Insurance Laws matters from the Insurance Lawyers in India.
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Consult Insurance Lawyers in India

Anish  Palkar

Anish Palkar

Exp
Mumbai suburban , Maharashtra

Specialization

  • Insurance
  • Banking
  • Divorce
  • Documentation
  • Bankruptcy and Debt
Total Answers Given : 939
Meenakshi  Periyahkaruppan

Meenakshi Periyahkaruppan

Exp
Chennai , Tamil Nadu

Specialization

  • Insurance
  • Civil
  • Family
  • Divorce
  • Property
Total Answers Given : 338
Prithvi  Raj Sikka

Prithvi Raj Sikka

Exp
Delhi , Delhi

Specialization

  • Insurance
  • Commercial
  • Contracts and Agreements
  • Intellectual Property, Copyright, Patent, Trademar
  • Arbitration and Mediation
Total Answers Given : 19
Anik

Anik

Exp
Bangalore , Karnataka

Specialization

  • Insurance
  • Cyber, Internet, Information Technology
  • Anticipatory Bail
  • Consumer Protection
  • Mutual Consent Divorce
Total Answers Given : 22488
Jaswant Singh Katariya

Jaswant Singh Katariya

Exp
Gurgaon , Haryana

Specialization

  • Insurance
  • Civil
  • Divorce
  • Adoption
  • Consumer Protection
Total Answers Given : 15
Abhimanyu  Shandilya

Abhimanyu Shandilya

Exp
Kolkata , West Bengal

Specialization

  • Insurance
  • Adoption
  • Civil
  • Criminal
  • Cyber, Internet, Information Technology
Total Answers Given : 4014
J. P. Singla

J. P. Singla

Exp
Faridabad , Haryana

Specialization

  • Insurance
  • Anticipatory Bail
  • Civil
  • Cheque Bounce
  • Domestic Violence
Shrikrushna  Tambde

Shrikrushna Tambde

Exp
Nagpur , Maharashtra

Specialization

  • Insurance
  • Civil
  • Adoption
  • Anticipatory Bail
  • Banking
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  • 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?


  • The Motor Vehicles Act 1988
  • The Insurance Laws (Amendment) Act 2015
  • Insurance Act 1938

Some important governance of Insurance Laws


  • 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.
  • 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.
  • 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.
  • 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.
  • 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%.
  • 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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