Question

What is the main statute that governs insurance law in india?

Answer 1

IRDA : The Insurance Regulatory and Development Authority of India (IRDAI) is an autonomous, statutory body tasked with regulating and promoting the insurance and re-insurance industries in India. It was constituted by the Insurance Regulatory and Development Authority Act, 1999,an Act of Parliament passed by the Government of India.The agency's headquarters are in Hyderabad, Telangana, where it moved from Delhi in 2001.