Introduction to Insurance Laws

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Description
The overwhelming response and appreciation from teachers, students and insurance marketers has encouraged me to thoroughly revise and enlarge this book. The previous editions receiving patronage from esteemed readers proves that the book is a 'work complete itself". I received invaluable feedback from teachers and students from various parts of India that book not only adopts a fresh and novel approach to study the principles of insurance but also exhaustive, comprehensive and lucid intended primarily for students studying LL.B., LL.M. and Management Studies. The third edition was needed badly for so long as lots of amendments are made out in last few years in Insurance laws particularly in the year 2015 and thereafter. As per Union Budget 2019-2020, the FDI cap in insurance sector has been increased from 49% to 100%. IRDA has been renamed as IRDAI and has been given more regulatory powers to control the sector which are thoroughly discussed. In the present edition, some aspects are amended in accordance with Insurance Laws (Amendment) Act, 2015; various significant rules and regulations passed by IRDAI up to the year 2020 have been highlighted with necessary details. The principles of insurance are explained with the help of juristic opinions and latest judicial decisions (up to October 2020), both Indian and foreign, to illustrate and interpret the provisions of insurance laws. A large number of case studies have been added for class-room discussions. The Public Liability Act, 1991 has been discussed thoroughly in a commentary style. A new chapter on Insurance Ombudsman has been added. Some chapters have been updated adding subsequent developments till October 2020.
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Table of Contents
Part I : Concept of Insurance
Chapter 1 : An Introduction to Insurance
Chapter 2 : Functions of Insurance
Chapter 3 : Nature of Insurance
Chapter 4 : Historical Development of Insurance
Chapter 5 : Kinds of Insurance
Part II : Principles of Insurance
Chapter 1 : Principles of Insurance
Chapter 2 : The Premium
Chapter 3 : The Risk
Chapter 4 : Insurance Regulatory and Development Authority of India
Chapter 5 : Insurance Intermediaries
Part III : Life Insurance
Chapter 1 : Concept of Life Insurance
Chapter 2 : Events Insured in Life Insurance
Chapter 3 : Circumstances Affecting the Risk
Chapter 4 : Amounts Recoverable Under Life Policy
Chapter 5 : Persons Entitled to Payment
Chapter 6 : Settlement of Claim and Payment of Money
Chapter 7 : Life Insurance Corporation of India
Part IV : Marine Insurance
Chapter 1 : Concept of Marine Insurance
Chapter 2 : Classification of Marine Insurance
Chapter 3 : Assignment of Marine Insurance
Chapter 4 : Principles of Marine Insurance
Chapter 5 : The Voyage
Chapter 6 : Perils of the Sea
Chapter 7 : Loos and Abandonment
Chapter 8 : Measures of Indemnity
Part V : Public Liability Insurance Act
Chapter 1 : Nature and Scope of Public Liability Insurance
Part VI : Insurance Ombudsman
Chapter 1 : The Insurance Ombudsman Scheme
Appendices
Subject Index   
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Author Details
Naresh Mahipal, Assistant Professor Faculty of Law, University of Delhi