As a preliminary matter, insurance companies are generally required to follow all of the same laws and regulations as any other type of business. This would include zoning and land use, wage and hour laws, tax laws, and securities regulations. There are also other regulations that insurers must also follow.
Insurance regulation that governs the business of insurance is typically aimed at assuring the solvency of insurance companies. Thus, this type of regulation governs capitalization, reserve policies, rates and various other "back office" processes.
Acting as legal counsel to banks & finance companies in transactions relating to securitization of loans and the subsequent public offering of the securitized portfolio.
The Government of India has provided an added impetus to the banking industry by proposing to set up an Asset Reconstruction firm. With the setting up of such companies, the burden of those banks, which are saddled with Non-performing assets, will ease considerably. Amongst other measures, the Government of India has also permitted offshore banking units to be set up in Special Economic Zones. Structured finance deals whether in the form of domestic or cross-border securitization have gained momentum.
Law firm's advice is a comprehensive blend of business strategy, in-depth industry specific legal issues. Law firm represent a number of Banks, Financial Institutions, Financing and Insurance Companies in India.