INSURANCE LAWS MANUAL -TAXMANN- UPDATED EDITION 2025

This book provides a comprehensive and updated compendium for the legal framework that governs the insurance industry in India. It compiles and presents the texts of the Insurance Regulatory and Development Authority Act, 1999 (IRDA), the Insurance Act, 1938, and over 50 associated rules and regulations essential for the regulation, development, and operational governance of insurance companies, agents, and related entities. The book includes updated and amended versions of legal texts, such as:

• Insurance Regulatory and Development Authority Act, 1999, as amended up to date
• 50+ 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 of 7th December, 2021)

This book helps understand the legal landscape of the insurance sector, providing the regulatory requirements, compliance obligations, and procedural guidelines required for the industry’s smooth functioning.

The Present Publication is the 27^th Edition | 2025 and amended up to 26^th November 2024. This book is edited by Taxmann’s Editorial Board, with the following 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 (Licensing of Insurance Agents) Regulations, 2000
  • Insurance Regulatory and Development Authority of India (General Insurance – Re-insurance) 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 (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 (Licensing of Corporate Agents) Regulations, 2002
  • Tariff Advisory Committee (Election of Members, Meetings, Functions and Miscellaneous) Regulations, 2004
  • Insurance Regulatory and Development Authority (Treatment of Discontinued Linked Insurance Policies) Regulations, 2010
  • Insurance Regulatory and Development Authority (Life Insurance – Re-insurance) Regulations, 2013
  • 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
  • Indian Insurance Companies (Foreign Investment) Rules, 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 (Insurance Services by Common Public Service Centres) Regulations, 2019
  • 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 (Procedure for Holding Inquiry by Adjudicating Officer) Rules, 2016
  • Insurance Regulatory and Development Authority of India (Appointment of Insurance Agents) Regulations, 2016
  • 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 (Expenses of Management, including Commission of Insurers) Regulations, 2024
  • Insurance Regulatory and Development Authority of India (Rural, Social Sector and Motor Third Party Obligations) Regulations, 2024
  • Insurance Regulatory and Development Authority of India (Bima Sugam – Insurance Electronic Marketplace) Regulations, 2024
  • Insurance Regulatory and Development Authority of India (Registration, Capital Structure, Transfer of Shares and Amalgamation of Insurers) Regulations, 2024
  • Insurance Regulatory and Development Authority of India (Corporate Governance for Insurers) Regulations, 2024
  • Insurance Regulatory and Development Authority of India (Insurance Products) Regulations, 2024
  • Insurance Regulatory and Development Authority of India (Registration and Operations of Foreign Reinsurers Branches and Lloyd’s India) Regulations, 2024
  • Insurance Regulatory and Development Authority of India (Actuarial, Finance and Investment Functions of Insurers) Regulations, 2024
  • Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024
  • Insurance Regulatory and Development Authority (Sharing of Database for Distribution of Insurance Products) Regulations, 2010
• 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 of 7th December, 2021)