Insurance law firm in india, best insurance lawyers in india

Insurance Law firm in India

The insurance practice offered by King Stubb and Kasiva encompasses a comprehensive range of legal services catering to insurers, reinsurers, intermediaries, investment banks, investors, and policyholders. Our team possesses an extensive understanding of the legal, regulatory, and commercial challenges confronted by India’s insurance sector. We consistently engage in cutting-edge insurance work within the Indian landscape.

We boast a proven track record of handling intricate and diverse insurance matters. Our areas of expertise encompass the formulation and execution of strategies for entering and exiting the market, insurance registration, high-value M&A transactions (including those of a cross-border nature), private equity transactions (encompassing acquisitions of controlling interests, minority investments, and subsequent disposals/exits), group reorganizations and restructurings, distribution arrangements (such as bank-assurance setups and digital platforms), outsourcing agreements, regulatory matters involving interactions with the Insurance regulator, initial public offerings, debt issuances, and high-value litigation and disputes.

KSK’s experienced team of expert insurance attorneys in India with our deep understanding of our clients’ commercial objectives empowers us to deliver a responsive, high-quality service aimed at assisting clients in achieving their goals.

Our Services

King Stubb & Kasiva has been representing several reputed corporate agents, brokers, surveyors, and third-party administrators in India and providing them a wide array of services. Our services encompass both advisories as well as litigation-related matters.

The Firm represents a broad range of clients that are involved with insurance, including:

  • Licensed Corporate and Individual Agents
  • Approved Insurance Agents
  • Common Service Centres
  • Web-Aggregators

Document Drafting

Drafting and recalibrating policy documents

Dispute Resolution

Setting up dispute resolution mechanism as well as handling litigation


Advising clients on the procurement of licenses and approvals from the Insurance Regulatory and Development Authority of India (IRDA) and various other regulatory authorities.

Key Highlights

  • We offer guidance and support to clients on all aspects of insurance laws and practices in India.
  • Our assistance extends to various insurance disputes, ensuring the enforcement of policies and the recovery of compensation.
  • We provide counsel to clients in obtaining licenses and approvals from the Insurance Regulatory and Development Authority of India (IRDA) and other relevant regulatory bodies.
  • Our clientele comprises prominent insurers, financial institutions, brokers, and businesses who value our ability to deliver forward-thinking, timely advice to safeguard their interests in domestic and international contracts.

Key Professionals

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What Is The Primary Insurance Legislation In India?

The Insurance Regulatory and Development Authority of India regulates insurance and reinsurance firms, as well as insurance intermediaries in India. The Insurance Act of 1938 and the Insurance Regulatory and Development Authority Act of 1999 control the Indian insurance sector. The Insurance Act was amended by the Insurance (Amendment) Act 2021, and the Ministry of Finance issued the Indian Insurance Companies (Foreign Investment) Amendment Rules 2021, which amended specific provisions of the Indian Insurance Companies (Foreign Investment) Rules 2015 to expressly provide the norms applicable to insurance companies with foreign investment.

What Are The Registration Requirements In India?

The applicant must be an Indian company formed under the Indian Companies Act of 1956. As a result, anyone wishing to conduct insurance business in India must establish a separate company. As shares in the application form, a foreign corporation may not own more than 26 percent of the insurance company’s paid-up capital. Nonetheless, the Insurance Act and its accompanying regulations spell out how this 26 percent should be calculated. The applicant may run life insurance, general insurance, or reinsurance business. Separate corporations would be required if several firms were to be run. The application’s name must include the words “insurance company” or “assurance company”.

How Are Product Distribution Norms Applied?

Only authorized or registered insurance agents, brokers, and intermediaries may solicit and obtain insurance business on behalf of insurers. An Indian insurer may also collaborate with intermediaries and insurance intermediaries, such as insurance brokers, corporate agents, web aggregators, third-party administrators, surveyors and loss assessors, insurance marketing companies, motor insurance service providers, and point-of-sale individuals, under current regulations. Insurance companies may pay access to a database of authorized referral businesses in addition to being permitted to hire authorized telemarketers to seek and acquire insurance clients.

Which Regulations Apply To Advertisements In The Insurance Industry?

The IRDA (Insurance Advertisements) Regulations, 2000 control all insurance advertisements prepared per Rule 2 by an insurer, intermediary, or insurance agency. Every insurer, intermediary, and an insurance agent must set up and maintain a system of control over all policy-related advertisements. Furthermore, these advertisements must be reported to the Authority at the time of their initial dissemination. An insurer’s advertisement should not be deemed deceptive or unfair.

What Are Foreign Exchange Regulations In India?

The Exchange Control Department of the Reserve Bank of India is responsible for enforcing and regulating exchange regulations. The Foreign Exchange Management Act of 1999 governs India’s foreign direct investment policy. General insurance contracts denominated in foreign currency may be issued by IRDA-registered insurance companies, and they may also accept premium payments denominated in foreign currencies without prior authorization from the RBI. This is only permitted in certain cases, such as marine insurance for ships chartered by Indian firms but owned by foreign shipping organizations, and aviation insurance for planes brought in on a lease or hire basis from outside India for use in air taxi operations, among others. Authorized dealers may also settle claims on general insurance policies in foreign currencies under specified conditions.