Diploma in Insurance Law and Practice

Post Graduate Diploma Courses

Eligibility – Any Degree

Duration – 6 months

Fees – Rs 15000/-  for Study Materials and One Final Test (Students who score 40% – Pass class,50% – Second class,60% – First class,75% – Distinction)

For online coaching classes – Separate fees of Rs 15000/-

Diploma Certificate is awarded at the end of the course. Mentioning the class obtained(Diploma not recognized by government – Useful only for Private Institutions).

Google pay, Paytm, Phonepe – 9994449001 – P. Jaganathan

Diploma in Insurance Law and Practice

Syllabus

Module 1: Introduction to Insurance Law and Practice

• Concept and Importance of Insurance
• Historical Development of Insurance in India
• Basic Principles of Insurance:
  • Utmost Good Faith
  • Insurable Interest
  • Indemnity
  • Contribution
  • Subrogation
  • Proximate Cause
• Overview of Insurance Business – Life, General, and Health Insurance

Module 2: Legal Framework Governing Insurance in India

• The Insurance Act, 1938 – Key Provisions and Amendments
• The Insurance Regulatory and Development Authority of India (IRDAI) Act, 1999
• Role and Functions of IRDAI
• The Indian Contract Act, 1872 – Essential Elements of Insurance Contracts
• Consumer Protection in Insurance under the Consumer Protection Act, 2019

Module 3: Life Insurance Law and Practice

• Concept of Life Insurance – Types and Features
• The Life Insurance Corporation Act, 1956
• Types of Life Insurance Policies:
• Term Insurance
• Whole Life Insurance
• Endowment Plans
• Unit Linked Insurance Plans (ULIPs)
• Assignment, Nomination, and Surrender of Life Insurance Policies
• Claim Settlement Process in Life Insurance

Module 4: General Insurance Law and Practice

• Concept and Types of General Insurance:
  • Fire Insurance
  • Marine Insurance
  • Motor Vehicle Insurance
  • Health Insurance
  • Miscellaneous Insurance (Travel, Liability, Cyber, etc.)
  • Legal Principles Governing General Insurance
  • The Motor Vehicles Act, 2019 – Compulsory Third-Party Insurance
  • Risk Assessment and Underwriting in General Insurance

Module 5: Health Insurance and Mediclaim Policies

• Meaning and Importance of Health Insurance
• Types of Health Insurance Plans – Individual, Family Floater, and Group Health Insurance
• The Employees’ State Insurance Act, 1948 – Social Security and Health Coverage
• Pre-Existing Diseases, Waiting Periods, and Exclusions in Health Insurance
• Claim Procedure and IRDAI Guidelines on Health Insurance

Module 6: Insurance Contracts and Policy Documentation

• Features and Essentials of an Insurance Contract
• Structure and Components of an Insurance Policy Document
• Proposal Form, Policy Wording, and Endorsements
• Policy Renewals, Lapses, and Reinstatements
• Case Laws on Interpretation of Insurance Contracts

Module 7: Insurance Claims and Dispute Resolution

• Types of Insurance Claims – Cashless and Reimbursement
• Claim Investigation and Fraud Detection
• Repudiation of Claims and Legal Remedies
• Role of Ombudsman, Consumer Courts, and IRDAI in Dispute Resolution
• Judicial Precedents on Insurance Claims

Module 8: Reinsurance and Risk Management

• Concept of Reinsurance and Its Importance
• Types of Reinsurance – Facultative and Treaty
• Risk Management Strategies in Insurance
• Role of International Insurance Organizations (Lloyd’s, GIC, etc.)

Module 9: Emerging Trends in Insurance

• Digitalization in the Insurance Sector
• Micro-Insurance and Rural Insurance
• Cyber Insurance and Data Protection
• Impact of Climate Change on Insurance Policies
• InsurTech – Artificial Intelligence and Blockchain in Insurance

Module 10: Practical Aspects of Insurance Law

• Drafting of Insurance Policies and Claim Forms
• Filing Insurance Complaints and Dispute Resolution Procedures
• Interpretation of Insurance Policies – Practical Exercises
• Case Study Analysis of Insurance Claims and Settlements

This syllabus provides a comprehensive understanding of insurance law and practice with a practical approach.