noun
Insurance Business Act
Refers to the Japanese law regulating the insurance business. A technical legal term.
保険業法に基づき、保険会社は厳しい規制を受けている。
Under the Insurance Business Act, insurance companies are subject to strict regulations.
Compound of 保険 (hoken, 'insurance'), 業 (gyō, 'business'), and 法 (hō, 'law').