The Institute of Law, Nirma University (ILNU) organized a Guest Lecture on “Understanding Insurance and Its Legal Dimensions” for students of Insurance Law on 3rd October 2025. The session was delivered by Ms. Shatakshi Komal, Associate Director (Legal) at Girnar Insurance Broker Pvt. Ltd. (InsuranceDekho). Drawing from her vast industry experience, Ms. Komal explained the concept of insurance as a financial safety mechanism and emphasized the need for greater awareness, given that nearly 90% of India’s population remains uninsured. She discussed two landmark Supreme Court judgments—Reliance Life Insurance Co. Ltd. v. Rekhaben Nareshbhai Rathod and United India Insurance Co. Ltd. v. Manubhai Dharmasinhbhai Gajera—highlighting the principles of utmost good faith, consumer honesty, and insurer fairness.
Ms. Komal also traced the evolution of the insurance sector in India, from its colonial roots to post-liberalization reforms and the regulatory role of the IRDAI. She shared practical insights on grievance redressal through the Insurance Ombudsman, explaining its efficiency in resolving policyholder disputes. The lecture further covered the key players in the insurance ecosystem, recent industry trends, and the rising importance of innovative products. Combining legal analysis, real-life examples, and humour, Ms. Komal’s lecture offered students a comprehensive and engaging understanding of the insurance sector and its legal framework, making the session both informative and enjoyable.