Insurance & Reinsurance Law

Preach Law LLP possesses vast experience in the insurance sector, having handled the entire gamut of insurance law issues. As part of its insurance experience, the firm has advised and is advising companies in connection with entry strategy into the insurance sector in India, including investment structuring, the insurance regulatory frame work, and obtaining the requisite approvals. We also assists foreign insurance majors in choosing their joint venture partners and in conducting the requisite legal due diligence; negotiating joint ventures; drafting of various transaction documents, etc. Insurance has become a household term and is a basic part of life. There is much legislation that regulates insurance law, but what matters is the way each legislated rule and guideline is put into practical functionality. The following statutes regulate the functioning of the insurance sector in India:

1) The Insurance Act, 1938

2) The Life Insurance Corporation Act, 1956

3) Marine Insurance Act, 1963

4) General Insurance Business (Nationalization) Act, 1972

5) Insurance Regulatory and Development Authority (IRDA) Act, 1999

We also advise companies for defining their strategy to enter into insurance sector in India, including investment structuring, the insurance regulatory framework and obtaining the requisite approvals. We advise our clients on the specific laws applicable as per the situation they face. Apart from the insured ones, we also have a success in representing certain insurance companies in Tribunals and other forums. We have also extensively worked with the insurance regulator i.e. Insurance Regulatory Development Authority (“IRDA”), on various policy and regulatory issues.

Nature of Dispute

We provide legal advice and representation related to Insurance Laws as well as address insurance and reinsurance coverage issues arising out of a wide variety of claims, including:

Bad faith claims
Environmental related claims
Construction defect claims

Construction bodily injury claims
Personal injury claims
Employment-related claims

Product liability claims
Professional liability claims
General liability claims and

Claims related to storm, fire, water losses, etc.

Our services

The insurance sector has also been fast developing. Our Firm deals in insurance and financial institutions regulations. Preach Law LLP finance practice represent lenders, underwriters, arrangers, borrowers and other clients in their various roles in financing transactions and provide reasoned and timely advice concerning mergers and acquisitions, leveraged buyouts, tender offer financings, joint ventures, and other credit transactions. We also deal in obtaining licensing and regulatory approvals for unit trusts and investment companies.The insurance sector has also been fast developing. Our Firm deals in insurance and financial institutions regulations. We provide legal advice and representation related to Insurance Laws as well as address insurance and reinsurance coverage issues arising out of a wide variety of claims, including bad faith claims, environmental related claims, construction defect claims, construction bodily injury claims, personal injury claims, employment-related claims, product liability claims, professional liability claims, general liability claims and claims related to storm, fire, water losses, etc.

Our Firm’s finance practice represent lenders, underwriters, arrangers, borrowers and other clients in their various roles in financing transactions and provide reasoned and timely advice concerning mergers and acquisitions, leveraged buyouts, tender offer financings, joint ventures, and other credit transactions. We also deal in obtaining licensing and regulatory approvals for unit trusts and investment companies.