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Section 2
Definitions
In this Act, unless the subject or context requires otherwise:- (a) "Committee" means the insurance committee established in accordance with section 3. (b) "Chairman" means the chairman of the committee. (c) "Member" shall mean a member of the Committee and the term shall also refer to the Chairman of the Committee. (d) "Insurer" shall mean an organized body registered under section 10 and the term shall also refer to a reinsurer. (e) "Insurance Business". ' means life insurance business or non-life insurance business and the word also refers to reinsurance. (f) Life insurance business means that if a certain amount is paid in installments based on the life of a person, he or in case of his death, his rightful person will receive a certain amount. (g) "Non-life insurance business" means insurance business other than life insurance business. (i) "Insurance article" means the document in which the related rights and obligations are mentioned in the insurance contract. (k) "Insured" shall mean a person or organization providing life insurance and non-life insurance. (d) "Surveyor" means a person licensed as per section 30A for financial assessment of damaged property and that term also refers to adjusters and loss assessors. (d1) "Broker" means insurance business. In the relationship, the insurer should be considered a person licensed to act as an intermediary between the insurers in accordance with section 30B."Year" means the period from the 1st day of the month of Shravan to the end of the month of Ashadha of each year.