LAW RELATING TO GENERAL INSURANCE
The Insurance act 1938 was a well thought out legislation and was passed to perform the control of working and activities of the companies carrying on the business relating to life, marine, fire and accident.
but the act has seen many amendments since it was passed required from experience in the implementation of the act .in 1963, the marine Insurance act was passed to regulate the contact of marine Insurance .
in 1971 the government nationalized the Insurance business and passed a General Insurance business (nationalization) act in 1972.a provision who made in the 1972 act relating to General Insurance (fire, marine, and miscellaneous) business being taken over by the central government.
The Insurance act 1938 was a well thought out legislation and was passed to perform the control of working and activities of the companies carrying on the business relating to life, marine, fire and accident.
but the act has seen many amendments since it was passed required from experience in the implementation of the act .in 1963, the marine Insurance act was passed to regulate the contact of marine Insurance .
in 1971 the government nationalized the Insurance business and passed a General Insurance business (nationalization) act in 1972.a provision who made in the 1972 act relating to General Insurance (fire, marine, and miscellaneous) business being taken over by the central government.