Insurance Law

Unit 1 — Principles of Insurance

Life Insurance introduction, Life Insurance Policies annuities, Conditions of Life Insurance Policy. Premium computations.

• 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

Unit 2 — Life Insurance Act. 1956

Definitions: Its establishment- function- Transfer of existing Life Insurance, Business to the corporation- Management, Finance, accounts & Audit Miscellaneous.

• The Life Insurance Corporation Act, 1956

Unit 3 — General Insurance- Corpn. of India- Scheme for reorganization of General insurance, business- Function of corporation and acquiring companies and their management Miscellaneous.

• General Insurance (Business) (Nationalization) Act, 1972
• Nationalization, Privatization and Globalization of Insurance Secto

Unit 4 — Marine Insurance Act. 1963.

• The Marine Insurance Act, 1963
• Marine Insurance: Nature and Scope — Classification of Marine policies — The salient features of the Marine Insurance Act, 1963, Insurable interest, Insurable value, Seaworthiness, Hull and Cargo Insurance
• Marine Insurance policy, Conditions and express Warranties, Voyage Deviation, Perils of sea, Loss — Kinds of Loss of ship and of freight