- Insurance has become a household term and maybe a basic part of life. there’s much legislation that regulates insurance law, but what matters is that the way each legislated rule and guideline is put into practical functionality. the subsequent statutes regulate the functioning of the insurance sector in India:
1) The Insurance Act, 1938
2) The life assurance Corporation Act, 1956
3) Marine Insurance Act, 1963
4) General Insurance Business (Nationalization) Act, 1972
5) Insurance Regulatory and Development Authority (IRDA) Act, 1999
- We also advise companies for outlining their strategy to enter into the insurance sector in India, including investment structuring, the insurance regulatory framework and obtaining the requisite approvals.
- We advise our clients on the precise laws applicable as per the things they face. aside from the insured ones, we even have a hit in representing certain insurance companies in Tribunals and other forums.
- we’ve also extensively worked with the insurance regulator i.e. Insurance Regulatory Development Authority (“IRDA”), on various policy and regulatory issues.