1. Insurance Act-1938
The Insurance Act of 1938 is the first comprehensive legislation governed both life and non-life branches of insurance was enacted to provide strict state control over the insurance business in India.
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In 1928, an act was enacted to help the Government collect and compile statistical information about the life and non-life business in India by Indian and foreign insurance providers including provident insurance organizations.
The Insurance Act of 1938 was the first law governing both life and non-life branches of insurance was enacted to provide strict state control over the insurance business in India.