Course Curriculam

Course Code: BITL603 Credit Units L T P/S SW AS/DS FW No. of PSDA Total Credit Unit
Course Level PG 2 0 0 0 0 0 0 2
Course Title Laws of Insurance

Course This paper will examine the development of insurance laws and regulatory mechanism with special emphasis on India.
Description :

Course Objectives :

SN. Objectives
1 For the development of insurance laws and regulatory mechanism with special emphasis on India.

Pre-Requisites : General

SN. Course Code Course Name

Course Contents / Syllabus :

Modul
SN. Descriptors / Topics Weightage
e
Assessment of Companies- Contract of Insurance, Principles of Insurance, Feasibility analysis, Risk in planning new
ventures, General strategy for Insurance law Use of insurance in Maufacturing process, Employees, workman, Industrial
1 1 sectors What Does It Take to make a good insurance policy inside a business house? Risk management and Insurance: 25.00
Types, Objectives, groups, Payment policies and risk cover laws Research & Analysis of Insurance claims Removing the
Challenges to Problem Solving of Insurance law
Development of Insurance-Business, Management, Amalgamation & transfer of Insurance Business, investment &
Prohibitions. Concepts of Negligence, Damages and Compensation Getting into business of insurance with law Insurance
ideas vs. Law The nature and sequence of Insurance Types of Insurance Lead users of Insurance Case Discussion:
Insurance claims and denial by the Insurance Companies in India, Grounds to Claim Insurance cover, Maturity and
2 2 25.00
insurance, damages and compensation New insurance planning and creation Introduction to the insurance plan: purpose
and format, problems associated with the insurance schemes and planning to choose a perfect insurance policy as per law
Main components of the good and successful insurance plan The importance of the risk cover and insured and insurer,
nomination: Importance, legal ground to become a nominee, positions of legal hairs of a diseased/ insured.
Control and Supervisory Authorities,-Study Jurisdiction, powers, Awards and its implementation of Authorities Exposer to
Procedures of filing of Claims, Insurance Disputes and settlements of Claims Managing grounds of rejections of
3 3 25.00
hearing/award of claims/disputes Role of Motor Accident claims and its tribunals: Powers, Jurisdictions and filing of motor
accident claims, grounds of admission and rejections of claims
Statutory Framework in India relating to insurance - The Insurance Act , 1938 ; Life Insurance Corporation Act , 1956 ;
Marine Insurance Act, 1963 ; General Insurance Business Nationalization Act , 1956 , Life Insurance Corporation
(Modification of Settlement ) Act , 1976; Insurance Regulatory Development Authority Act , 1999 Legal Tools designed for
4 4 the special requirements of Settlements of insurance disputes in the form of BARE ACTS Tips for managing Settlement 25.00
cases for the lawyer and the claimants Methods for filing and drafting the claim petitions/applications under various acts
Analysis Insurance Laws and documentation for ventures of claims and disputes Case Study: coming out of claims disputes
of Insurance

Course Learning Outcomes :

SN. Course Learning Outcomes

Pedagogy for Course Delivery :

SN. Pedagogy Methods

The course will be conducted using lectures, assignments. The students will be acquainted with important case laws on the subject to understand
1
the intricacies involved in the Insurance Contracts /transactions.

Theory /VAC / Architecture Assessment (L,T & Self Work): 100.00 Max : 100

Attendance+CE+EE : 5+45+50

SN. Type Component Name Marks

1 Attendance 5.00
2 Attendance 5.00
3 Attendance 5.00
4 Attendance 5.00
5 Attendance 5.00
6 Attendance 5.00
7 End Term Examination (OMR) 50.00
8 End Term Examination (OMR) 50.00
9 End Term Examination (OMR) 50.00
10 End Term Examination (OMR) 50.00
11 End Term Examination (OMR) 50.00
12 End Term Examination (OMR) 50.00
13 Internal CLASS TEST 10.00
14 Internal VIVA VOCE 10.00
15 Internal PROJECT 25.00

Lab/ Practical/ Studio/Arch. Studio/ Field Work Assessment : 0.00 Max : 100

N/A

List of Professional skill development activities :

No.of PSDA : 0
SN. PSDA Point

Text & References :

SN. Type Title/Name Description ISBN/ URL

• Singh, Avtar, 2010, Law of Insurance,
1 Book Eastern Book Company, Lucknow, 2nd
edn.
 • Misra, Ranganath (ed.), 2006,
2 Book Srinivasan’s Principles of Insurance Law,
Wadhwa, New Delhi, 8th edn
• Murthy, K.S.N and K.V.S. Sarma, Modern
3 Book Law of Insurance in India, N.M. Tripathi,
Mumbai.
• Singh, Avtar, 2010, Law of Insurance,
4 Book Eastern Book Company, Lucknow, 2nd
edn.
• Misra, Ranganath (ed.), 2006,
5 Book Srinivasan’s Principles of Insurance Law,
Wadhwa, New Delhi, 8th edn
• Murthy, K.S.N and K.V.S. Sarma, Modern
6 Book Law of Insurance in India, N.M. Tripathi,
Mumbai.
• Singh, Avtar, 2010, Law of Insurance,
7 Book Eastern Book Company, Lucknow, 2nd
edn.
• Misra, Ranganath (ed.), 2006,
8 Book Srinivasan’s Principles of Insurance Law,
Wadhwa, New Delhi, 8th edn
• Murthy, K.S.N and K.V.S. Sarma, Modern
9 Book Law of Insurance in India, N.M. Tripathi,
Mumbai.
• Singh, Avtar, 2010, Law of Insurance,
10 Book Eastern Book Company, Lucknow, 2nd
edn.
• Misra, Ranganath (ed.), 2006,
11 Book Srinivasan’s Principles of Insurance Law,
Wadhwa, New Delhi, 8th edn
• Murthy, K.S.N and K.V.S. Sarma, Modern
12 Book Law of Insurance in India, N.M. Tripathi,
Mumbai.
• Singh, Avtar, 2010, Law of Insurance,
13 Book Eastern Book Company, Lucknow, 2nd
edn.
• Misra, Ranganath (ed.), 2006,
14 Book Srinivasan’s Principles of Insurance Law,
Wadhwa, New Delhi, 8th edn
• Murthy, K.S.N and K.V.S. Sarma, Modern
15 Book Law of Insurance in India, N.M. Tripathi,
Mumbai.
• Singh, Avtar, 2010, Law of Insurance,
16 Book Eastern Book Company, Lucknow, 2nd
edn.
• Misra, Ranganath (ed.), 2006,
17 Book Srinivasan’s Principles of Insurance Law,
Wadhwa, New Delhi, 8th edn
• Murthy, K.S.N and K.V.S. Sarma, Modern
18 Book Law of Insurance in India, N.M. Tripathi,
Mumbai.