Section 2, Insurance Regulatory and Development Authority Act, 1999 [S1Z-VSN]
As at 7 September 2026. In force from 11 June 2000 by S.O. 2272(E) [N12-A78].
2. Definitions.—In this Act, unless the context otherwise requires,— (a) "insurer" means an Indian insurance company or a statutory body established by an Act of Parliament to carry on insurance business; (b) "policy-holder" includes a person to whom the whole of the interest of the policy-holder in the policy is assigned once and for all; (c) "Authority" means the Insurance Regulatory and Development Authority of India established under section 3 of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999); (d) "intermediary" includes insurance brokers, re-insurance brokers, insurance consultants, corporate agents, third party administrators, surveyors and loss assessors; (e) "premium" means the consideration payable under a policy; (f) "notification" means a notification published in the Official Gazette, and the expression "notified" shall be construed accordingly; (g) "prescribed" means prescribed by rules made under this Act.
Defined terms in this text (5)
Authority: Section 2, Insurance Regulatory and Development Authority Act, 1999 [S1ZVSN] (In this Act, unless the context otherwise requires,—): "Authority" means the Insurance Regulatory and Development Authority of India established under section 3 of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999)
Authority: 22 more definitions.
insurer: Section 2, Insurance Regulatory and Development Authority Act, 1999 [S1ZVSN] (In this Act, unless the context otherwise requires,—): "insurer" means an Indian insurance company or a statutory body established by an Act of Parliament to carry on insurance business
insurer: 7 more definitions.
intermediary: Section 2, Insurance Regulatory and Development Authority Act, 1999 [S1ZVSN] (In this Act, unless the context otherwise requires,—): "intermediary" includes insurance brokers, re-insurance brokers, insurance consultants, corporate agents, third party administrators, surveyors and loss assessors
intermediary: 25 more definitions.
policy-holder: Section 2, Insurance Regulatory and Development Authority Act, 1999 [S1ZVSN] (In this Act, unless the context otherwise requires,—): "policy-holder" includes a person to whom the whole of the interest of the policy-holder in the policy is assigned once and for all
policy-holder: 7 more definitions.
premium: Section 2, Insurance Regulatory and Development Authority Act, 1999 [S1ZVSN] (In this Act, unless the context otherwise requires,—): "premium" means the consideration payable under a policy
premium: 6 more definitions.
Made under this section, or naming it (1)
Insurance Regulatory and Development Authority of India (Licensing of The assessment of loss) Bye-laws, 2018 [R11-DZ5], 5 July 2018, in force. The text contains " (c) words and expressions used herein and not defined but defined in the Act shall have the meanings respectively assigned to them in the Act".
Cited by (3)
Section 2, IRDAI (Registration of Policy-holders) Regulations, 2009 [S2Q-BHG], 4 July 2009, Band A. " (c) words and expressions used herein and not defined but defined in the Act shall have the meanings respectively assigned to them in the Act".
Section 2, IRDAI (Registration of Insurance intermediaries) Regulations, 2006 [S2N-Y0S], 27 March 2006, Band A. " (c) words and expressions used herein and not defined but defined in the Act shall have the meanings respectively assigned to them in the Act".
Section 2, IRDAI (Records and Returns of Surveyors) Regulations, 2015 [S2T-6WW], 15 October 2015, Band A. " (c) words and expressions used herein and not defined but defined in the Act shall have the meanings respectively assigned to them in the Act".
Not held (0)
none
Duties published under this section (0)
none