Insurance Laws Manual

This book provides a comprehensive and updated compendium for the legal framework that governs the insurance industry in India. It compiles and presents the texts of the Insurance Regulatory and Development Authority Act, 1999 (IRDA), the Insurance Act, 1938, and over 50 associated rules and regulations essential for the regulation, development, and operational governance of insurance companies, agents, and related entities. The book includes updated and amended versions of legal texts, such as:

Insurance Regulatory and Development Authority Act, 1999, as amended up to date
50+ Rules/Regulations framed under the IRDA Act
Insurance Act, 1938, as amended up to date, along with:
Applicability of Provisions of the Insurance Act to SEZs/IFSCs
Insurance (Appeal to Securities Appellate Tribunal (Rules), 2016
Master Directions ? Insurance, including FED Master Direction No. 9/2015-16, Dated 1-1-2016 (Updated as of 7th December, 2021)
This book helps understand the legal landscape of the insurance sector, providing the regulatory requirements, compliance obligations, and procedural guidelines required for the industry’s smooth functioning.

The Present Publication is the 27th Edition | 2025 and amended up to 26th November 2024. This book is edited by Taxmann’s Editorial Board, with the following coverage:

Insurance Regulatory and Development Authority Act, 1999
Arrangement of Sections
Text of the Insurance Regulatory and Development Authority Act, 1999, as amended up to date
Subject Index
Rules & Regulations Framed under Insurance Regulatory and Development Authority Act, 1999
Insurance Regulatory and Development Authority (Licensing of Insurance Agents) Regulations, 2000
Insurance Regulatory and Development Authority of India (General Insurance ? Re-insurance) Regulations, 2016
Insurance Regulatory and Development Authority (Meetings) Regulations, 2000
Insurance Regulatory and Development Authority (Insurance Advisory Committee) Regulations, 2000
Insurance Regulatory and Development Authority (Salary and Allowances Payable to, and Other Terms and Conditions of Service of Chairperson and Other Members) Rules, 2000
Insurance Regulatory and Development Authority (Conditions of Service of Officers and Other Employees) Regulations, 2000
Insurance Regulatory and Development Authority of India (Third Party Administrators ? Health Services) Regulations, 2016
Insurance Regulatory and Development Authority (Annual Report ? Furnishing of Return, Statements and Other Particulars) Rules, 2000
Insurance Regulatory and Development Authority (Form of Annual Statement of Accounts and Records) Rules, 2001
Insurance Regulatory and Development Authority of India (Re-insurance) Regulations, 2018
Insurance Regulatory and Development Authority of India (Re-insurance) Advisory Committee) Regulations, 2019
Insurance Regulatory and Development Authority (Licensing of Corporate Agents) Regulations, 2002
Tariff Advisory Committee (Election of Members, Meetings, Functions and Miscellaneous) Regulations, 2004
Insurance Regulatory and Development Authority (Treatment of Discontinued Linked Insurance Policies) Regulations, 2010
Insurance Regulatory and Development Authority (Life Insurance ? Re-insurance) Regulations, 2013
Insurance Regulatory and Development Authority (Sharing of Confidential Information Concerning Domestic or Foreign Entity) Regulations, 2012
Insurance Regulatory and Development Authority (Licensing of Banks as Insurance Brokers) Regulations, 2013
Insurance Regulatory and Development Authority of India (Insurance Web Aggregators) Regulations, 2017
Insurance Regulatory and Development Authority of India (Insurance Brokers) Regulations, 2018
Insurance Regulatory and Development Authority of India (Registration of Insurance Marketing Firm) Regulations, 2015
Indian Insurance Companies (Foreign Investment) Rules, 2015
Insurance Regulatory and Development Authority of India (Maintenance of Insurance Records) Regulations, 2015
Insurance Regulatory and Development Authority of India (Registration of Corporate Agents) Regulations, 2015
Insurance Regulatory and Development Authority of India (Insurance Services by Common Public Service Centres) Regulations, 2019
Insurance Regulatory and Development Authority of India (Regulation of Insurance Business in Special Economic Zone) Rules, 2015
Insurance Regulatory and Development Authority of India (Insurance Surveyors and Loss Assessors) Regulations, 2015
Insurance (Procedure for Holding Inquiry by Adjudicating Officer) Rules, 2016
Insurance Regulatory and Development Authority of India (Appointment of Insurance Agents) Regulations, 2016
Insurance Ombudsman Rules, 2017
Insurance Regulatory and Development Authority of India Guidelines on Transitory Provisions under Insurance Regulatory and Development Authority of India (Appointed Actuary) Regulations, 2017
Insurance Regulatory and Development Authority of India (Investment by Private Equity Funds in Indian Insurance Companies) Guidelines, 2017
Insurance Regulatory and Development Authority of India (Regulatory Sandbox) Regulations, 2019
Insurance Regulatory and Development Authority of India (Minimum Information Required for Investigation and Inspection) Regulations, 2020
Insurance Regulatory and Development Authority of India (Expenses of Management, including Commission of Insurers) Regulations, 2024
Insurance Regulatory and Development Authority of India (Rural, Social Sector and Motor Third Party Obligations) Regulations, 2024
Insurance Regulatory and Development Authority of India (Bima Sugam ? Insurance Electronic Marketplace) Regulations, 2024
Insurance Regulatory and Development Authority of India (Registration, Capital Structure, Transfer of Shares and Amalgamation of Insurers) Regulations, 2024
Insurance Regulatory and Development Authority of India (Corporate Governance for Insurers) Regulations, 2024
Insurance Regulatory and Development Authority of India (Insurance Products) Regulations, 2024
Insurance Regulatory and Development Authority of India (Registration and Operations of Foreign Reinsurers Branches and Lloyd?s India) Regulations, 2024
Insurance Regulatory and Development Authority of India (Actuarial, Finance and Investment Functions of Insurers) Regulations, 2024
Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024
Insurance Regulatory and Development Authority (Sharing of Database for Distribution of Insurance Products) Regulations, 2010
Insurance Act, 1938
Arrangement of Sections
Text of the Insurance Act, 1938, as amended up to date
Appendix I: Applicability of provisions of this Act to SEZs/IFSCs
Subject Index
Insurance (Appeal to Securities Appellate Tribunal) Rules, 2016
Master Directions ? Insurance
(FED Master Direction No. 9/2015-16, Dated 1-1-2016)

(Updated as of 7th December, 2021)