As per the Rules of Bar Council of India, law firms are not permitted to solicit work and advertise. The only objective of this website is to provide information about Intellectual  Property Laws.
   

By clicking on the " I Agree" below the user acknowledges that :

  • He is visiting the site voluntarily for information only and that the contents of this website will not be taken or considered as legal advice.

  • He was not induced or invited by the firm or any of its associates for solicitation of any work of any sort through this website.

  • All the decisions taken by him relying on the information provided under this website are his personal decisions and the firm shall not be held liable for any consequence of any action thus taken by him.

   
I Agree
S.S.Rana-IPR-Law-Firm
ssrana-facebook   ssrana-twitter   ssrana-googleplus   ssrana-linkedin   ssrana-googleblog
Client Login
  Skip Navigation Links  



























LAWS RELATING TO INSURANCE IN INDIA

 
COMPETITION LAW
LAW RELATING TO START UPS
FOOD LAWS
INFORMATION TECHNOLOGY LAW
REAL ESTATE LAW
COMPANY FORMATION LAW
GOODS SERVICE TAX
FDI LAW
TECHNOLOGY TRANSFER & JOINT VENTURE LAW
COMMERCIAL AGREEMENTS & CONTRACTS LAW
LAWS RELATING TO INSURANCE
Laws Affecting The Insurance Industry
LEGAL METROLOGY
LABOUR LAW
SPORTS LAW
MEDIA & COMMUNICATION LAW
TELECOMMUNICATION LAW
ECOMMERCE BUSINESS LAW
CORPORATE LAW FIRM
COMMERCIAL LAW FIRM
ENVIRONEMENT LAW
GAMBLING LAWS
INDIAN STANDARD'S LAW (BIS)
 

The Insurance sector in India operates under the aegis of the Ministry of Finance and is regulated by the Insurance Regulatory and Development Authority (“IRDA”). It helps in mobilizing the savings while acting as a financial intermediary and promoter of investment activities at the same time. It stabilizes financial markets and plays the role of a risk manager.

The insurance industry in India can be mainly classified into:

  1. Life Insurance; and

  2. Non-life Insurance.

The Foreign Direct Investment (“FDI”) regime promoted by the Department of Industrial Policy and Promotion (DIPP) allows the Insurance sector in India to invite private participation from foreign players as well. The insurance industry in India at present consists of 52 insurance companies of which 24 are in life insurance business and 28 are in non-life insurance business.

Regulatory Body

The Insurance Regulatory and Development Authority (IRDA) is the regulatory authority for the Insurance industry in India. It was set up as an autonomous body under the IRDA Act, 1999. It frames regulations for the insurance industry in terms of Section 114A of the Insurance Act, 1938. It functions as an arm under the Ministry of Finance in India.

 

  |   |   |   |   |   |   |   |   |   |  


© Copyright 2010-17, S.S. Rana & Co. All rights reserved