Read Livelaw To Get all Latest Legal News And Updates on Insurance law in India
May 7, 2024 ⚊ 1 Min read ⚊ Views 13 ⚊ NEWSThe insurance law of India is the group of the laws and statutes that control the insurance sector and the relations between insurer, policyholder and beneficiary. Under Indian insurance law, various categories of insurance are in place, such as life insurance, general insurance (non-life insurance), and health insurance. The insurers are subject to strict regulatory guidelines regarding solvency, capital adequacy, investment rules, and claims settlement processes, aimed at retaining the financial stability and soundness of the insurance market. Insurance regulatory laws in India guarantee the right of policyholders by laying down the rules concerning the definition of policy terms and conditions, premium payment, claim settlement procedure, and redressal of grievances. Visit Livelaw for more details on insurance laws in India