Taxmann Insurance Laws Manual Edition 2024

This book provides comprehensive coverage of Insurance Laws in India. It covers updated & amended text of the following Laws:

• Insurance Regulatory and Development Authority Act, 1999 (IRDA), as amended up to date
• 70+ 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 on December 7, 2021)

It also includes a ‘Guide to Insurance Laws’ to give an overview of Insurance Laws in India.

The Present Publication is the 25^th Edition & amended up to 31^st December 2023. This book is edited by Taxmann’s Editorial Board, with the following detailed 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 of India (Actuarial Report and Abstract for Life Insurance Business) Regulations, 2016
• Insurance Regulatory and Development Authority of India (Insurance Advertisements and Disclosure) Regulations, 2021
• 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 of India (Assets, Liabilities and Solvency Margin of General Insurance Business) Regulations, 2016
• Insurance Regulatory and Development Authority of India (Assets, Liabilities and Solvency Margin of Life Insurance Business) 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 of India (Investment) Regulations, 2016
• Insurance Regulatory and Development Authority (Preparation of Financial Statements and Auditor’s Report of Insurance Companies) Regulations, 2002
• 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 of India (Protection of Policyholders’ Interests) Regulations, 2017
• Insurance Regulatory and Development Authority (Distribution of Surplus) Regulations, 2002
• Insurance Regulatory and Development Authority (Manner of Receipt of Premium) Regulations, 2002
• 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 of India (Micro Insurance) Regulations, 2015
• Insurance Regulatory and Development Authority (Sharing of Database for Distribution of Insurance Products) Regulations, 2010
• Insurance Regulatory and Development Authority (Treatment of Discontinued Linked Insurance Policies) Regulations, 2010
• Insurance Regulatory and Development Authority (Scheme of Amalgamation and Transfer of General Insurance Business) Regulations, 2011
• Insurance Regulatory and Development Authority of India (Issuance of Capital by Indian Insurance Companies Transacting Life Insurance Business) Regulations, 2015
• Insurance Regulatory and Development Authority (Scheme of Amalgamation and Transfer of Life Insurance Business) Regulations, 2013
• Insurance Regulatory and Development Authority (Life Insurance-Re-insurance) Regulations, 2013
• Insurance Regulatory and Development Authority of India (Health Insurance) Regulations, 2016
• Insurance Regulatory and Development Authority of India (Unit Linked Insurance Products) Regulations, 2019
• Insurance Regulatory and Development Authority of India (Non-Linked Insurance Products) Regulations, 2019
• Insurance Regulatory and Development Authority of India (Issuance of Capital by Indian Insurance Companies Transacting other than Life Insurance Business) Regulations, 2015
• 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
• Insurance Regulatory and Development Authority of India (Fee for Registering Cancellation or Change of Nomination) Regulations, 2015
• Insurance Regulatory and Development Authority of India (Fee for Granting Written Acknowledgement of the Receipt of Notice of Assignment or Transfer) Regulations, 2015
• Insurance Regulatory and Development Authority of India (Obligation of Insurer in Respect of Motor Third Party Insurance Business) Regulations, 2015
• Indian Insurance Companies (Foreign Investment) Rules, 2015
• Insurance Regulatory and Development Authority of India (Places of Business) Regulations, 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 (Obligations of Insurers to Rural and Social Sectors) Regulations, 2015
• Insurance Regulatory and Development Authority of India (Minimum Limits for Annuities and Other Benefits) Regulations, 2015
• Insurance Regulatory and Development Authority of India (Acquisition of Surrender and Paid-up Values) 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 (Registration and Operations of Branch Offices of Foreign Re-insurers other than Lloyd’s) Regulations, 2015
• 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 Regulatory and Development Authority of India (Issuance of e-Insurance Policies) Regulations, 2016
• Insurance Regulatory and Development Authority of India (Loans or Temporary Advances to the Full Time Employees of the Insurers) Regulations, 2016
• Insurance Regulatory and Development Authority of India (Lloyd’s India) Regulations, 2016
• Insurance Regulatory and Development Authority of India (Inspection and Fee for Supply of Copies of Returns) 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 Regulatory and Development Authority of India (Outsourcing of Activities by Indian Insurers) Regulations, 2017
• 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 (Manner of Assessment of Compensation to Shareholders or Members on Amalgamation) Regulations, 2021
• Insurance Regulatory and Development Authority of India (Other Forms of Capital) Regulations, 2022
• Insurance Regulatory and Development Authority of India (Registration of Indian Insurance Companies) Regulations, 2022
• Insurance Regulatory and Development Authority of India (Appointed Actuary) Regulations, 2022
• Insurance Regulatory and Development Authority of India (Payment of Commission) Regulations, 2023
• Insurance Regulatory and Development Authority of India (Expenses of Management of Insurers transacting Life Insurance Business) Regulations, 2023
• Insurance Regulatory and Development Authority of India (Expenses of Management of Insurers transacting General or Health Insurance Business) Regulations, 2023

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 on December 7, 2021)