Legal and Regulatory Aspects of Insurance

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This book discusses how insurance law has evolved and why there was a requirement to amend it from time to time. The book traces the linkages between insurance act(s) and regulations and their peer relation with other acts and laws. Law is a set of rules or norms of conduct Insurance legal institutions are sought to be simplified by introducing quasi-judiciary ombudsman system and other grievance redressal mechanisms. It mandates, proscribes, or permits specified relationships among people and organizations. It provides methods for ensuring impartial treatment of people/organizations involved in these relationships. Key Feature Developed to help students and insurance professionals to become self-reliant in undertaking research, problem solving, and problem formulation Will assist users to acquire expertise to determine their own priorities, to interpret and use insurance concepts effectively, and to monitor the training skills in their executives Case studies and illustrations weaved through out the series to give theoretical as well as practical insight into various aspects of insurance operations Table of Contents 1. Definition and Sources of Law 2. Judicial Set-up in India 3. Insurance as a Contract 4. Doctrine of Insurance and Their Legal Implications 5. Insurance Act, 1938: Important Provisions 6. Insurance Act, 1938: Suggested Amendments 7. InsuranceRegulatory and Development Authority Act, 1999 8. Other Important Legislations