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PRINCIPLES OF INSURANCE LAW
By
M N SRINIVASAN
The Law of Insurance has been a subject of considerable public importance since its beginning. Many new statutory enactments have been added to the existing statutory material on the subject. The prominent among them are the Public Liability Insurance Act, 1991 and the Insurance Regulatory and Development Authority Act, 1999 and various Rules and Regulations thereunder. Such degree of Legislative care further demonstrates the public importance of the subject. It is this vastness of the market which has attracted the foreign insurers and, in order to throw open the door to them, the exclusive monopoly of the L I C and the G I C has been diluted.
Apart from structural changes, the law of insurance has also been registering changes in respect of its basic and working principles. These changes have rendered the subject to be more functional than merely theoretical. Hence the new edition of the present book. THE SALIENT FEATURES OF THE PRESENT EDITION ARE: Statutory coverage.-The impact of the new legislation has been examined for the purpose of updating the existing text and also for the purpose of modifying it according to the requirements of new statutory framework. In new grand piece of legislation, namely the IRDA Act, 1999, in additions to its own new set of provisions, has brought about consequential amendments to the total number of Acts dealing with insurance. The impact of this new piece of legislation and its consequential amendments on the existing scheme has been thoroughly probed and analysed.
Thorough study of case law.-The most commonly accepted method of citing cases has been adopted. All decisions appearing in the country\\\'s primary reports have been brought in. An effort has been made to locate the principles running through them, to capture their ratio and to present the same so as to demonstrate significant trends in the movement of the subject. More detailed subject-index.-A book which proceeds according to principles and not according to the sequence of the provisions of a statutory enactment needs a very helpful subject-index for easy location of the point which is under search. An attempt has been made to present an exhaustive, comprehensive and complete subject-index.
Enlarged Appendix.-This edition provides in all 68 Appendices covering full text of Insurance Act & Rules, Insurance Regulatiory and Development Authority Act, Rules, Regulations, Life Insurance Corporation Act, Rules, General Insurance Business (Nationalisation) Act, Rules and Guidance Notes as issed by ICAI, Marine Insurance Act, Personal Injuries (Compensation Insurance) Act, Public Lifability Insurance Act, Rules, Relevant Extract form Motor Vehicle Act, English Life Assurance Act, English Gamming Act, and other Miscellaneous Acts and Rules covering or impinging upon the subject of law of insurance.
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