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Important Legislations Governing Non-life General Insurance Business in India

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Important Legislations Governing Non-life General Insurance Business in India:

  1. Insurance Act, 1938 and Insurance Rules, 1939, as amended
  2. General Insurance Business (Nationalisation) Act, 1972 with amendments
  3. The Indian Contract Act, 1872
  4. Marine Insurance Act, 1963
  5. Public Liability Insurance Act, 1991
  6. The Carriers Act, 1865
  7. Multi-modal Transportation Act, 1993
  8. The Motor Vehicles Act, 1988
  9. The Indian Ports (Major Ports) Act, 1963
  10. The Carriage of Goods by Sea Act, 1925
  11. The Inland Steam – Vessels (Amendment) Act, 1977
  12. The Merchant Shipping Act, 1958
  13. The Bill of Lading Act, 1856
  14. Indian Railways Act, 1989
  15. The Carriage by Air Act, 1972
  16. The Indian Post Office Act, 1898
  17. The Indian Stamp Act, 1899
  18. The Consumer Protection Act, 1986
  19. The Exchange Control Regulations: The Exchange Control Regulations governing the general insurance business in India are set out in a Memorandum which is issued by the RBI under section 73(3) of the FERA, 1973.

Some more Acts relevant to Insurance:

  1. The Arbitration and Conciliation Act, 1996
  2. Employees’ Compensation Act, 2010
  3. Consumer Protection Act, 1986

 

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