Taxmann's Insurance Laws Manual – Definitive | Up-to-date Legal Reference on Insurance Law—Consolidating Acts | IRDAI/RBI Rules | Case Law in a Single Volume
About this ebook
This book is intended for the following audience:
• Legal Professionals – Advocates, solicitors, and legal consultants advising on insurance-related litigation, claims, and policy interpretation
• Compliance Officers & In-house Counsels – Legal teams within insurance companies, banks, NBFCs, and other financial institutions
• Insurance Practitioners & Agents – Insurance brokers, agents, underwriters, and risk managers who must comply with updated IRDAI regulations
• Corporate & Financial Services Executives – Professionals involved in managing corporate insurance portfolios, reinsurance contracts, and risk assessment
• Students & Academics – Law students, researchers, and faculty members needing a thorough reference guide on the Indian insurance framework
The Present Publication is the 28th Edition | 2025, amended up to 6th June 2025. This book is edited by Taxmann's Editorial Board, with the following noteworthy features:
• [Complete Coverage of IRDAI Regulations]
o Incorporates Insurance Regulatory and Development Authority Act 1999
o Fully updated rules and regulations framed thereunder, such as:
§ Insurance Regulatory and Development Authority of India (Maintenance of Information by the Regulated Entities and Sharing of Information by the Authority) Regulations 2025
§ Regulatory Sandbox Regulations 2025
§ Bima Sugam – Insurance Electronic Marketplace Regulations 2024
§ Others
• [Updated Regulatory Landscape] Reflects the latest reforms, including Corporate Governance for Insurers Regulations 2024 and Expenses of Management, including Commission, of Insurers Regulations 2024
• [Comprehensive Statutory Materials]
o Insurance Act 1938
o 15+ IRDA Regulations, Rules under the Insurance Act, and RBI's FED Master Directions on Insurance
• [Practical Commentary & Case Law]
o Detailed guidance on contract interpretation, claims settlement, repudiation grounds, third-party liability, and no-fault liability principles
o Summaries of landmark Supreme Court and National Commission rulings
• [GST and FEMA Implications]
o A thorough discussion of GST applicability on insurance premiums, exemptions, reverse-charge mechanism, co-insurance, reinsurance, and FEMA provisions
• [User-friendly Presentation]
o Clear arrangement of sections, subject indices, and cross-references for quick navigation
o 'Guide to Insurance Laws' for conceptual clarity
The coverage of the book is as follows:
• IRDA Act 1999 & Rules/Regulations
o Licensing & Registration Regulations
o Reinsurance & Co-insurance Regulations
o Corporate Governance & Disclosure Norms
o Insurance Products & Policyholders' Protection
o Digital Initiatives & Innovation
• Insurance Act 1938
o Updated text of the principal Act
o Detailed subject index
• RBI & FEMA Directions
o RBI's FED Master Direction on Insurance and foreign exchange regulations specific to insurance business
• Case Law Insights
o Detailed discussion on claim repudiation, 'no fault liability,' interpretation of policy terms, coverage of third-party risks, etc.
• GST on Insurance Services
o Rate structures, exemptions for specific insurance schemes, reverse-charge scenarios, and co-insurance/reinsurance clarifications
• Miscellaneous & Allied Rules
o Insurance Ombudsman Rules 2017
o Insurance Advisory Committee Regulations 2000
o Special Economic Zone (Insurance Business) Rules
o Other integral legislative instruments affecting the insurance sector
The structure of the book is as follows:
• Introductory Pages
o List of Acts/Rules/Regulations for easy reference
o Guide to Insurance Laws explaining key concepts, definitions, and contextual background
• Main Sections
o Part I – Insurance Regulatory and Development Authority Act 1999
§ Arrangement of Sections, Text of the Act, Subject Index
o Part II – Rules & Regulations framed under IRDA Act 1999
§ Each regulation is presented with an arrangement of clauses, full text, and interpretative notes
o Part III – Insurance Act 1938
§ Full text, arrangement of sections, relevant rules, appendices, subject index
o Part IV – Master Direction | Insurance (RBI)
§ The complete text of FED Master Direction No. 9/2015-16 (Updated up to December 7, 2021)
• Annotations & Footnotes
o Critical commentary on each statutory provision, linking to important case laws and clarifications from IRDAI and RBI
• Appendices & Subject Indexes
o Detailed indexes, references, and an appendix on compliance guidelines to facilitate quick navigation and in-depth research
Ratings and reviews
About the author
At the core of Taxmann's commitment to delivering insightful and reliable information is a highly skilled Research & Editorial Team consisting of Chartered Accountants, Company Secretaries, and Lawyers. Guided by Editor-In-Chief Mr Rakesh Bhargava, this team upholds Taxmann's role as a leading content provider in the professional knowledge space.
Operating with Six Sigma-inspired precision, the team is driven to eliminate errors and maintain excellence across all content outputs. Their content creation follows strict editorial principles to ensure authority, depth, and insight. Key guidelines include:
• Verified Sourcing – All statutory content is carefully curated from credible, authorized sources, ensuring authenticity and dependability
• Up-to-Date Information – With a commitment to timely updates, the team ensures readers are informed of the latest judicial and legislative changes
• Analytical Depth – Focused on high-impact issues, the team provides deep analysis to help readers understand the implications and nuances of recent developments
• Precise and Accurate Communication – Each publication is crafted for clarity and precision, making complex topics accessible and practical for professionals
• Rigorous Referencing – Analytical insights are thoroughly referenced with relevant sections, circulars, notifications, and rulings, enhancing trustworthiness
• Consistency and Quality – Taxmann adheres strictly to standards of style, grammar, and format, ensuring a smooth and professional reading experience
• Reader-Friendly Design – Both print and digital formats are designed with legibility in mind, enhancing accessibility across platforms
By adhering to these standards, Taxmann's Editorial Team strengthens its position as a trusted content company, empowering professionals with authoritative resources to make informed decisions.
