Course No.: 504 INSURANCE REGULATORY
FRAMEWORK
(IRFW XX)
Marks: 80 Hours: 40
Objectives:
This course acquaints the students with the Legislative Framework with regard
to Insurance.
Course
Contents:
UNIT-I:
Brief history of Insurance Regulation in India-Provisions relating to
registration, accounts and returns, investment and licensing of agents. 20 : 10 hrs
UNIT-II:
Establishment of LIC of India. Constitution of the Corporation. Capital of the
Corporation. Applicability of Insurance Act, 1938 provisions relating to
management under the LICI Act, 1956. 20 : 10 hrs.
UNIT-III:
IRDA,1999: Definition, composition of the authority. Terms of the Chairperson
and other members, duties, powers and Functions of the Authority 20 : 10 hrs
UNIT-IV:
Ombudsman Scheme- Appointment of ombudsman, power, function and duties, Filing
of complaint with ombudsman.
20: 10 hrs
Text
and Reference Books::
1.
Mishra M.N: Insurance Principles and Practice; S. Chand and Co, New Delhi.
2.
Vinayakam N., Radhaswamy and Vasudevan SV; Insurance- principles and Practice,
S. Chand and Co., New Delhi.
3.
Gupta OS: Life Insurance; Frank Brothers, New Delhi.
4.
Insurance Regulatory Development Act 1999. and other relevant Act.
5.
Rejda: Principles of Risk Management & Insurance, Pearson, New Delhi.
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