IL1011 | Insurance Law

Insurance Law is an elective subject by the Bar Council of India and UGC.

We live in a risky world. Forces that threaten our financial wellbeing constantly surround us and are largely outside our control. Some people experience the premature and tragic death of a beloved family member, loss or destruction of their property from both manmade and natural disasters. There is other group of people where there is no accident but are exposed to the traumatic effects of a liability lawsuit.

Insurance law is a subject of key import to individuals & the business sector. Insurance laws as an important tool in providing a sense of security to the society on a whole. Law of Insurance plays a significant role in regulating the conduct of the Insurance Companies and protecting the interests of the Policy Holders through the Insurance Regulatory and Development Authority. Insurance may be described as a social device to reduce or eliminate risk of life and property. Under the plan of insurance, a large number of people associate themselves by sharing risk through contributing small premiums attached to individuals. The risk can be insured against Life, Fire, Marine, Health, Motor Vehicle, Travel, Liability & burglary. Any risk contingent upon these may be insured against at a premium commensurate with the risk involved.