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Insurance Law 101

Name of the Course: Insurance Law 101


Objectives of the Course:

●     To understand the concept of insurance law and the related basic concepts such as function, nature, principals and frauds related to insurance.

●     To learn about various kinds of insurance and the study in detail Life Insurance, Marine Insurance and Motor Vehicle Insurance.

●     To learn about some of the general insurances such as fire, burglary and consumer insurance.

●     To understand the principles of Motor Vehicle Insurance and claims and extent of compensation available and also study the same along the footings of the principle of vicarious liability.


Learning Outcomes of the Course:

➔    Analysis of principles of Insurance Laws in India along with the basic concepts.

➔    To understand various components and concepts of  Insurance law emphasing on some of its types such as Life Insurance and other General Insurances and Motor Vehicle and Marine Insurance.


Expectations/Requirements from the learner:

➢    You don’t have to be a lawyer and there are no prerequisites for this course academically. However, the course will be conducted at the level expected of advanced undergraduate students.

➢    Students are expected to have read the study materials provided before every session so as to facilitate advance learning.

➢    Students must be diligent with regards to completion of Assignment/ Project/ Presentations within the provided timeline.



E-learning, text based modules, powerpoint presentations, weekly assessments, projects, doubt clearance, video lectures and discussions.



●     Learn from the comforts of your home

●     Beginner friendly

●     Doubt clearance

●     CV building

●     Get a certificate issued by Ansh LexPraxis Legal Education LLP after the successful completion of the course.

●     Placement Assistance


Module I:  Introduction

Historical Development, Functions & Nature of Insurance, Kinds, Principals of Insurance, Premium, Risk, Assignment & Subrogation, Insurance Intermediaries, IRDA, Insurance Frauds.


Module II: Life & General Insurance

Concepts, Events insured in life, Circumstances affecting risk, Amounts received & persons entitled, Settlement of Claim , L.I.C of India, General Insurance especially Fire,  Burglary & Consumer Insurance.


Module III:  Marine Insurance      

Concepts, Principles & Classification of Marine Insurance, Assignment of Marine Insurance Policy, the Voyage, Peril of the Sea, Loss & Abandonment, Measures of Indemnity.


Module IV: Motor Vehicle Insurance  etc


Motor Vehicle Insurance, Claims, No Fault Liability etc, Extent of Statutory Liability,  Vicarious Liability & its extent, Compensation on structured formula basis, Consumer Claim & Insurers Liability, Ombudsman, Motor Vehicle Claims Tribunal.

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