Legal and administrative framework of Insurance

Paper Code: 
FSI 616
Credits: 
3
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

To understand the legal and administrative framework of Insurance

9.00
Unit I: 

History of Insurance Legislation in India: Main features
Insurance Act 1938 –Salient features, Requirements as to capital, Deposits , Registrations, submission of returns , Limitations.

10.00
Unit II: 

Life insurance corporation Act 1956: Constitution, salient features, Transfer of services

8.00
Unit III: 

Consumer protection act1986: Scope, Consumer protection council, State consumer protection council, District forum, National commission

9.00
Unit IV: 

IRDA:.A Brief profile of IRDA, Rights ,Power and functions of IRDA. Important provisions of ,IRDA(Licensing of corporate Agents) Regulations 2002.

9.00
Unit V: 

Life Insurance Corporation of India-objective, function, causes of nationalization ,organization and management of LIC-Board of directors, Committee, The chairman, managing director, Central office ,Divisional office

Essential Readings: 

• MJ Mathew,”RiskManagement and Insurance”,RBSA Publications,Jaipur.
• Neelam C.Gulati,”Principles of Insurance Management”,Excel books

References: 

• Karam Pal,B.S.Bodla,M.C.Garg,”Insurance Management:Principles & Practices, Deep& Deep Publications
• Jyotsna sethi, Nishwan Bhatia,”Elements of banking and Insurance”,Prentice hall of India,Delhi

Academic Year: 
2018-2019
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