Law And Practice of Insurance In India – R.K Nagarjun

Prof. R.K. Nagarjun’s Law and Practice of Insurance in India covers the insurance law paper with the balance of doctrine and practice the subject needs. It develops the general principles of insurance — insurable interest, utmost good faith, indemnity, subrogation, contribution and proximate cause — then the specific branches: life insurance, fire, marine and motor insurance, and the growing area of health and miscellaneous cover, each with its distinctive legal rules.

The regulatory dimension — the IRDAI framework, policyholder protection, and the resolution of claims and disputes including the Insurance Ombudsman — grounds the subject in current practice. Leading case law runs throughout. The 2025 edition reflects recent regulatory developments. A solid text for the insurance law paper and a useful reference for practice.

Allahabad Law Agency — genuine copies carry the holographic seal.

Law And Practice of Insurance In India by R.K Nagarjun is a law textbook published by Allahabad Law Agency.

Written with the needs of law students in mind, it explains the principles and provisions of the subject in a systematic and readable manner, making it a dependable companion for coursework and examination preparation.

Key highlights:

• Systematic, student-friendly treatment of the subject
• Suited to the LL.B. syllabus and competitive examinations
• A trusted Allahabad Law Agency title

What’s Inside — Complete Coverage Map (7 Parts)

Part I — Introductory: what insurance and insurance law are, the ingredients of a contract of insurance, the classes of insurance, the development of insurance law in India, and a set of decided precedents on practical questions — liability of the insurer on a fake or renewed licence, compulsory protective helmets, fire insurance, when a writ petition is not maintainable in an insurance matter, when the absence of a driving licence does not defeat a claim, and contributory versus culpable negligence.

Part II — Law of Insurance Generally: the Insurance Act, 1938 section by section, with the statements of objects and reasons for every amendment from 1950 to the Amendment Act of 2021. Covers the general concepts (endowment, term, whole-life, no-fault and title insurance, uberrimae fidei, construction of exemption clauses) then registration and capital requirements, deposits, accounts and audit, actuarial reports and returns, investment of assets (Ss. 27–31), managers and remuneration, obligations in the rural and social sectors and third-party motor risks, investigation and inspection, the Authority’s powers to issue directions and remove or appoint directors, search and seizure, amalgamation and transfer of insurance business, assignment and nomination of policies (Ss. 38–39), commission and rebates, agents and intermediaries, and Section 45 — when a policy may not be called in question after three years, treated at length with repudiation, onus of proof and the meaning of “material fact” · administrators, acquisition of undertakings, winding up, external companies, the Life and General Insurance Councils, the Tariff Advisory Committee and surveyors and loss assessors, solvency margin and advance payment of premium (Ss. 64V–64VC), re-insurance, and the penalty and miscellaneous provisions — followed by the Redressal of Public Grievances Rules, 1998 establishing the Insurance Ombudsman, with jurisdiction, procedure, recommendations and awards.

Part III — Law of General Insurance: the General Insurance Business (Nationalisation) Act, 1972 in eight chapters — salient features, transfer to public ownership, the General Insurance Corporation of India, amounts payable for acquisition, schemes for reorganisation, terms of service, functions and management, and the miscellaneous provisions including the statutory nature of third-party liability.

Part IV — Law of Life Insurance: the Life Insurance Corporation Act, 1956 — establishment and incorporation, the Board and disqualification of directors, disclosure of interest, related party transactions, adjudication of penalties, capital and shares, functions of the Corporation, transfer of existing life insurance business, management committees (executive, investment, nomination and remuneration, audit), finance, accounts and audit including internal and special auditors and actuarial valuations, utilisation of surplus, and the miscellaneous provisions with the three Schedules on compensation.

Part V — Marine Insurance: the Marine Insurance Act, 1963 in twelve chapters — insurable interest, insurable value, disclosure and representations, the policy and rules for its construction, double insurance, warranties including seaworthiness and legality, the voyage and deviation, loss and abandonment (actual and constructive total loss, notice of abandonment, salvage and general average), the measure of indemnity, subrogation and return of premium.

Parts VI–VII — Regulator and Regulations: the IRDA Act, 1999 — establishment, composition, tenure and removal, and the duties, powers and functions of the Authority · then the regulations in full: Licensing of Insurance Agents 2000 with forms, Surveyors and Loss Assessors (licensing, categorisation, code of conduct, training), the IRDAI (Insurance Brokers) Regulations, 2018 as amended — registration and renewal, corporate governance, capital and net-worth, professional indemnity, remuneration, co-broking, segregation of insurance money, online, telemarketing and distance selling, and the consequences of non-compliance, with the complete schedule of forms — plus the Insurance Advertisements and Disclosure Regulations, 2021.