After liberalization and globalization, the world has become a global village. After the liberalization policy of India in 1992, many private companies both in life and general insurance sectors have come into operation. Since many insurance companies are operating in the market, there is now increasing competition among all the insurance companies. The Central Government has established the ‘Insurance Regulatory and Development Authority’ and ‘Insurance Ombudsman’ to regulate the functioning of all the insurance companies in India.
The insurance experts have forecasted that the growth of insurance industry in India will be phenomenal in the years to come and therefore, there will be great openings of employment opportunities in the Indian insurance sector. Therefore, the study of different types of insurances and insurance laws in detail has become the need of the hour.
In such a changing global scenario in insurance, we have brought out this timely edition – ‘Law of Insurance’ in simple and lucid language so that even a lay man with little knowledge of insurance can easily understand the different types of insurances and insurance laws.
At the same time, to meet the examination requirements of law students, we have presented the subject matter in the form of essays with answers for previous year questions of many South Indian and North Indian Universities. We have also covered the full Syllabic of the insurance subject so that the students of law can answer all the questions in the insurance examinations. We have also answered the previous year university question problems for practical understanding of the subject of insurance.