Insurance Law

Unit I

 Origin, History and Development of Life Insurance in India ·  Structural Set up of the Life Insurance Corporation. ·  Life Insurance Corporation Act, 1956 · Judgments: · 1. LIC v. Asha Goel (2001) 2 SCC 160 · 2. K.S. Usha v. Branch Div. Manager LIC of India 2000 Kant. 157 · 3. LIC v. G.M. Channabusavamma, AIR 1991 ACJ 303 SC · 4. LIC v. Prasanna Devraj, AIR 1995 Ker. 88 · 5. LIC v. Ajit Gangadhar Sham, AIR 1997 Kant 157

• 1. 1 Insurance: Definition, Nature, Scope, History, Its future, need and importance in India and across the globe
• Life Insurance — Nature, Principles and Scope Events insured against life, life insurance
• The Life Insurance Corporation Act, 1956

Unit II

Non-Life Insurance Contracts ·  Nature and Functions of Insurance Contract ·  Difference Between Insurance Contract and Wagering Contracts Proposal, Acceptance, · Competence of the Parties, Lawful Consideration, Lawful Object. · Judgments: · 1. Baburam Jain v. LIC, AIR 1990 MP 351 · 2. Shashi Gupta v. LIC, AIR 1995 SC 1367 · 3. Oberoi Forwarding Agency v. New India Assurance Co.Ltd., AIR 2000 SC 855 · 4. New India Assurance Co. Ltd. V. Satyanath Hazarika, AIR 1991 72 Comp. Cases 4647 · 5. Vania Silk Mills Pvt.Ltd. v. CIT, AIR 1991 SC 2104

• 1. 1 Insurance: Definition, Nature, Scope, History, Its future, need and importance in India and across the globe

Unit III

 Insurable Interest ·  Indemnity, Subrogation and Contribution ·  Doctrine of Utmost Good Faith. ·  Doctrine of Proximate Cause ·  Assignment and Nomination ·  Representation and Warranty · Judgments: · 1. Smt. Prema & Others v. LIC of India 2006 (CLJ 858 (P) · 2. Chief Executive Officer & Vice Chairman, Gujrat Marilline Board v. Habu Daud Haji · Harun Aku (1996) 11 SCC 23 · 3. United India Assurance Co. Ltd., v. Ajmer Singh General Mills, AIR 1999 SC 3027 · 4. B.V. Nagraj v. Oriental Insurance Co.ltd. (1996) 4 SCC 647 · 5. George D. Varghess v. G. Daniel, AIR 1996 Kel. 120

Unit IV

Insurance Regulatory and Development Authority Act, 1999 · Judgments: · 1. Smt. Gauri Sethi v. Divisional Manager of LIC and others · 2. M/S. Shree Ram Swara Centre v. St.of Bihar, AIR 2007 Pat. 97 · 3. National Insurance Co. Ltd. v. General Insurance Development Officers Association, · AIR 2008 SC 2657 · 4. United India Insurance Co. Ltd. v. Manubhai Dharmasinhbhai Gajera 2008 (9) SCR 778 · 5. National Insurance Co. Ltd. v. Boghara Polyfab Pvt. Ltd., 2009 (1) SCC 267

• Insurance Regulatory and Development Authority (IRDA) Act, 1999, IRDAI, its functions, role, structure