Taxmann Insurance Laws Manual 29th Edition January 2026

Insurance Laws Manual 29th Edition January 2026

Insurance Laws Manual 29th Edition January 2026

The Present Publication is the 29th Edition | 2026, amended up to 15th January 2026. This book is edited by Taxmann’s Editorial Board, with the following noteworthy features:

• [Complete Insurance Law Ecosystem] Consolidates the Insurance Act 1938, IRDA Act 1999, RBI directions, and an extensive body of IRDAI regulations into a single, unified reference
• [Post-2024 Regulatory Architecture Captured in Full] Reflects the new IRDAI regulations (2024–2025) covering corporate governance, insurance products, expenses and commissions, foreign reinsurers, digital marketplaces, regulatory sandboxing, data governance, and policyholder protection
• [Operational-level Regulatory Depth] Goes beyond framework principles to include granular compliance requirements—proposal handling, servicing manuals, turnaround times, biometric authentication, claims workflows, grievance mechanisms, disclosures, and reporting
• [Board-led Governance & Accountability Focus] Incorporates regulations mandating Board-approved policies, committee oversight, stewardship obligations, ESG and climate risk frameworks, compliance reporting by CCOs, and auditor oversight
• [Technology-enabled Insurance Regulation] Includes regulations governing Bima Sugam (Insurance Electronic Marketplace), electronic servicing, outsourcing, data governance, and controlled innovation through regulatory sandbox mechanisms

The Manual consolidates and presents, in full statutory text:

• Core Statutes
  • Insurance Act 1938 with detailed provisions on registration, capital structure, foreign investment, accounts, audits, actuarial oversight, policyholder data protection, and regulatory enforcement
  • Insurance Regulatory and Development Authority Act 1999, establishing IRDAI’s powers, supervisory authority, rule-making competence, and enforcement jurisdiction
• IRDAI Rules & Regulations – Including but not limited to:
  • Maintenance & Sharing of Information Regulations 2025 – Policyholder data accuracy, confidentiality, and security obligations
  • Regulatory Sandbox Regulations 2025 – Controlled experimentation with innovative insurance products and distribution models
  • Corporate Governance for Insurers Regulations 2024 – Board composition, committees, fit-and-proper norms, internal controls, and accountability
  • Insurance Products Regulations 2024 – Product design, approvals, disclosures, prospectus requirements, and withdrawal norms
  • Protection of Policyholders’ Interests Regulations 2024 – Detailed rules on sales practices, mis-selling prevention, claims settlement, grievance redressal, and service standards
  • Expenses of Management Regulations 2024 – Commission caps, expense ratios, and reporting
  • Rural, Social Sector & Motor TP Obligations Regulations 2024
  • Registration, Capital Structure & Amalgamation Regulations 2024
  • Foreign Reinsurers & Lloyd’s India Regulations 2024
  • Actuarial, Finance & Investment Functions Regulations 2024
  • Licensing of Insurance Agents Regulations 2000
  • 25+ Additional IRDAI Regulations covering outsourcing, intermediaries, servicing centres, claims, investments, reporting, and inspections
• Allied Regulatory Instruments
  • RBI’s FED Master Direction on Insurance
  • Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act 2025