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The insurance dispute lawyer settles insurance disputes under the government of the Insurance Regulatory and Developmental Authority of India. The IRDA was set up under the IRDA Act, 1999 as an autonomous body to protect the interests of policyholders and to promote ethical insurance practices. Legal advice from experts in the field can help us understand the body and its policies better. In 1991 the Government started closely studying the global scenario and proceeded to implement economic and financial sector reforms for the stronghold of the Indian market. In 1993, the Committee on Reforms in the insurance sector was set up under the supervision of R.N Malhotra (retired governor of Reserve Bank of India). In 1994, the Malhotra Committee suggested some reforms viz. private sector companies should be allowed to offer insurance services, foreign companies should be allowed and that government should vest its regulatory powers on a body that would lie under the jurisdiction of the Parliament. Thus, the IRDA was born. The IRDA frames regulatory policies for the Insurance industry under the jurisdiction of Insurance Act 1938, under terms of Section 114A. This body is responsible for the ethical and healthy functioning of the insurance companies and protection of the consumers. As consumers, we lie out of the loop of the practices as most of us are not very aware of our rights and the legal system that protects us. A body like IRDA was made to protect the interests of the insurance companies as well as clients availing their services. It’s important to have an in-depth understanding of the legal aspects of the insurance acts so that we can make well-informed judgements hence, the need for insurance dispute lawyers. Seeking counsel from distinguished insurance dispute lawyers is highly recommended. At Querease, we have on-board insurance dispute lawyer specialising in the field to help you. Get legal advice online from these insurance dispute lawyers, delivered through video chats on our highly-interactive interface.

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