LL.B. (Three Years) Insurance Law Syllabus - SPPU 2026

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Syllabus for Insurance Law

Semester 2 · First Year · Elective course, any one · 4 credits

Objectives of the Course

This course provides an in-depth analysis of the principles, regulations, and practices governing insurance law. Students will gain a thorough understanding of the legal framework that governs insurance contracts, claims, and the rights and responsibilities of insurers and policyholders.

Module 1: Introduction to Insurance Law

1. Historical development of insurance law & Growth of Insurance in India, Nationalization of life and general insurance, Opening up of the insurance sector, foreign investment in insurance
2. Definition, Nature and Significance of Insurance.
3. Classification of Insurance: Voluntary and compulsory insurance
4. Insurance Regulatory and Development Authority of India, its constitution, role, powers and functions
5. The Life Insurance Corporation of India, the General Insurance Corporation of India, the General and the Life Insurance Councils
6. Registration of insurers, Capital and voting structure; Investments by insurers
7. Functions and benefits of insurance

Module 2: General Principles of Insurance

1. Indemnity - Meaning, application in different types of insurance, double insurance, subrogation, contribution
2. Insurable interest, wagering agreements
3. Utmost Good Faith
4. Doctrine of proximate cause
5. Risk & Risk Handling: Risks, Risk-handling

Module 3: Contract of Insurance

1. Contract of insurance, subject-matter of insurance; Contingent nature insurance contract
2. Formation of insurance contract - proposal and acceptance, documents involved in formation - proposal, cover note, slips, policy, certificate of insurance, the process of formation of the insurance contract until issuing of policy
3. Reinsurance: Role and importance of reinsurance, Types of reinsurance agreements
4. Insurance agents and insurance brokers, and their role in contract formation
5. Premium, calculation, return and forfeiture of premium, Tariff
6. Nomination and Assignments

Module 4: Life & Health Insurance

1. History & evolution of Life Insurance
2. Kinds of Life Insurance-Whole life Policy, Endowment Policy, Term Policy, Unit-Linked Insurance Plans (ULIPs)Free Look Period Provisions
3. Types of Health Insurance: Individual Health Insurance, Family Floater Health Insurance: Senior Citizen Health Insurance, Group Health Insurance

Module 5: Fire & Marine Insurance

1. Meaning, Need and Advantages of Fire Insurance-
2. Special terminologies in Fire Insurance Claims: Insurer/Insurance Company, Insured/Policyholder, Premium, Salvage, Insurance Policy, Sum Assured, Under Insurance, Average Clause, Claim.
3. Definition & Meaning of Marine Insurance
4. Types of marine insurance- cargo and hull insurance-
5. Types of marine policies: specific policy, open policy-, duty policy, special storage policy, annual policy

Module 6: The Motor Vehicle Insurance

1. Scheme of compulsory insurance
2. Certificate of insurance, Transfer of insurance policy
3. Right of an insurer to defend Duty to satisfy judgments
4. Road Safety Measures:
5. Categories of offences
6. National transportation policy
7. Motor Vehicle Accident Fund

Module 7: Agricultural Insurance

1. Characteristic Features of Indian Agriculture and Farmers’ Community
2. Risk Perceptions of Indian Farmers.
3. Past Experience with Crop Insurance Schemes in India: Comprehensive Crop Insurance Scheme (CCIS) Experimental Crop Insurance (ECI) Farm Income Insurance Scheme FIIS National Agriculture Insurance Scheme (NAIS)
4. Unified Package Insurance Scheme: Pradhan Mantri Fasal Bima Yojana (PMFBY)

Module 8: Emerging Issues in Insurance Law, Insurance Fraud And Ethics

1. Cyber insurance and data protection
2. Climate change and insurance implications
3. Insurtech and digital disruption in the insurance industry
4. Types of insurance fraud
5. Measures to prevent and detect insurance fraud
6. Ethical considerations in insurance practices

References

1. Principles and Practice of Non-Life Insurance by P.K. Gupta, Himalaya Publication House.
2. Insurance Principles and Practice by M.N. Mishra, S. Chand.
3. Mishra. M.N.: Insurance Principles and Practice, (Delhi, Vikas Publishing house)
4. R.N Choudhary’s, General Principles of Law of Insurance, Central Law Publications
5. Periya Swamy; Principles and Practice of Life Insurance
6. Raman B, Your Life Insurance Hand Book
7. William C. Arthur, Risk Management and Insurance
8. Krishna Swamy: A Text book on Principles and Practices of Life Insurance
9. Gopal Krishnan, Liability Insurance
10. Aramvalarthan: Risk Management I.K. Intl
11. Mishra M.N, Insurance Principles and Practice
12. Bose A.K, Engineering Insurance
13. Fire Insurance Claim: Insurance institute of India
14. P. K Gupta; Insurance & Risk Management I
15. Insurance Institute of India, National Insurance Academy

Reproduced from the Savitribai Phule Pune University Revised CBCS Rule and Syllabus for LL.B., the 2023 pattern as amended on 18 July 2024. Wording is as printed in that syllabus. Module numbering is as printed there too.

The complete syllabus

Every subject above is cut from the revised syllabus. Open the document here if you want the whole thing rather than a single subject.

PDF Complete LL.B. syllabus Revised syllabus (CBCS 2023 pattern), as amended on 18 July 2024 Read full PDF Read

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