EVOLUTION OF INSURANCE COMPANIES IN INDIAN, AND IT’S REGULATION
DOI:
https://doi.org/10.29121/shodhkosh.v4.i2.2023.3251Keywords:
Claims, Premium, Compensation, IRDAAbstract [English]
Insurance is a helpful instrument. If one person is providing for his / her own resources to another person and it is no need to consider as insurance. Because, losses are shared and distributed to groups or those who are willing to bear. Insurance agreements must be mutual faith and supporting each other. It has to exchange all type of information to each other. Main objective of this article is to understand the evolution of Indian insurance company. This evolution is classified into three major parts: (1) Pre independence Period or British- India Period (1818 – 1947) (2) Post Independence Period (1947 – 1991) and (3) Liberalization period (1991 – till date). This study is based on the secondary data. This source of data was collected from books, journals, government of reports and websites.
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Madabhushi Sridhar (2007), “Transactional Life Insurance, an Emerging Category; An Interesting
Interface between Insurable Interest, Life and Death”, The ICFAI Journal of Insurance Law, 5(4), p.16
Government of India (2012). "Insurance Regulatory and Development Authority of India Act 1999" (PDF).
Department of Financial Services, Government of India Retrieved.
Neelam Gulati and C.M. Jain, (2013), “A Study of Impact of Liberalization of Indian Insurance Sector on
the Strategies of Life Insurance Corporation (LIC) of India since 2001” VSRD International Journal of Business and Management Research, 3(2).
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