File Name: insurance development and regulatory authority act 2010 .zip
Ministry of Finance A contract of insurance A contract of insurance is a contract between two parties whereby, one party is called the insurer , agrees to pay to the other party a certain sum of money on happening of a specified contingency, or agrees to indemnify the other party from losses arising from certain specific events.
Compilation No. This compilation includes commenced amendments made by Act No. The amendment made by Act No. About this compilation. This is a compilation of the Insurance Act that shows the text of the law as amended and in force on 5 March the compilation date. The notes at the end of this compilation the endnotes include information about amending laws and the amendment history of provisions of the compiled law.
This includes recent Parliamentary legislations and amendments to Rules and Regulations issued under the Central Acts and notified in official Gazette of the Government of India. Two set of highlighting colour has been used to distinguish closer amendments and Amendments within amendments. Move the cursor over the highlighted portion and you can see the footnote information about the amendments. Vital information about bare Acts and Rules with to regard to Statement of Object and Reasons, State Amendments, Forms of Charges under certain penal provisions of Acts has been organised in self folding sheets. Where any provision is substituted by an amendment the old provision is also given in Old Law. You can try the self folding sheets here below, just click any of the following bars to see results.
PART 1. Preliminary and General. Short title, commencement and collective citation. Interpretation and construction. Regulations and orders.
Annual Reports. Committee Reports. Press Releases. Public Notices. All Right Reserved.
Apprentices Act, Arbitration And Conciliation Act, Banking Cash Transaction Tax. Central Boards of Revenue Act, Charitable And Religious Trusts Act,
Text search. A circular is a written statement that provides information and guidelines on laws and procedures. Organisations Action: Open select menu. Sub: Transfer of Shares of the Insurance Companies. All the Interested and eligible candidates who may apply Online or offline have to check.
Most Popular You can select more than one. In case, you wish to buy a plan for your siblings, aunts, uncles or any other relatives, you can buy a separate plan for them. You can select more than one member. India is a vast country that offers great opportunities to varied segments one of which is the insurance sector. Let us understand the concept of insurance regulator in a simple way.
Insurance a system of spreading the risk of one to the shoulders of many. It is a contract whereby the insurers, on receipt of a consideration known as premium, agree to indemnify the insured against losses arising out of certain specified unforeseen contingencies or perils insured against. Insurance as a business began almost a century back. Insurance business gained momentum in East Pakistan during , when 49 insurance companies transacted both life and general insurance schemes. Ten insurance companies had their head offices in East Pakistan, 27 in West Pakistan, and the rest were located outside Bangladesh. These were mostly limited liability companies. Some of these companies were specialized in dealing in a particular class of business, while others were composite companies that dealt in more than one class of business.
Absorbed Areas Laws Act, Acquired Territories Merger Act, Actuaries Act,
The House passed two insurance laws in a bid to further strengthen the regulatory framework and make the industry operationally vibrant. The government has taken the pragmatic step to boost the insurance sector. This law is related to the matters of Insurance. The much talked about the Insurance Act has some notable provisions as follows:. The new Insurance Act raised the paid-up capital of life and non-life insurance companies to make them financially sound. The minimum paid-up capital of a life insurance company will now rise to Tk million from Tk 75 million and for nonlife the capital size will be Tk million from Tk million under Basel-II.