WELCOM TEAM INSURRANCE LAW Nguyễn Văn Bằng Hồng Thu Bình Nguyễn Văn Cảnh Đinh Văn Cương PRESENTATION PART      Insurance law Essential element of insurrance Legal principles of inssurrance IRDA act 1999 Duties, power, function of IRDA INSURRANCE   It is Shifting of transferring of a risk of loss or demange from owners and there by sharing of losses by all members of the group a contract of insurrance is a contract by which one party undertakes to make good the loss of another in consideration of some of money on the happening of a specifed event For eg: Fire accident or Death ESSENTIAL ELEMENT OF INSURRANCE     Proposal or Offer Acceptance Communication Consideration LEGAL PRINCIPLES OF INSURRANCE       Good faith ( uberrimae fide) Insurable Interest Principle of Indemnity Risk Mitigation of Loss Contribution LIFE INSURRANCE GENERAL INSURRANCE POLICY OTHER ISSUE Reinsurrance Double insurrance IRDA ACT 1999 DUTIES, POWER, FUNCTION OF IRDA     To regulate promote and ensure orderly growth of Insurrance Bussiness To mantain proper accounts and prepare annual statement of accounts as prescribed by central government to submit all financial statements to the central Government within month from completion of financial year To Follow the direction issued by central government DUTIES, POWER, FUNCTION OF IRDA ...PRESENTATION PART      Insurance law Essential element of insurrance Legal principles of inssurrance IRDA act 1999 Duties, power,