aviation insurance
UNIVERSITY OF MUMBAI
PROJECT REPORT ON
AVIATION INSURANCE
T.Y.BBI (SEMESTER VI)
ACADEMIC YEAR: 2011– 2012
SUBMITTED BY:
PAYAL PEDNEKAR.
ROLL NO: 1182326
PROJECT GUIDE
PROF. PRATIBHA JITESH.
VIDYA PRASARAK MANDAL’S
R. Z. SHAH COLLEGE OF ART’S SCIENCE AND COMMERCE
MITNAGAR ROAD, MULUND (EAST) MUMBAI - 400081
DECLERATION I Payal Pednekar the student of Banking and Insurance Semester 6th (2011-12) hereby declare that I have completed the project on Aviation Insurance.
The information submitted is true and original to the best of my knowledge.
Signature
Date:
Place:
ACKNOWLEDGEMENT
Words fall short to express my deep sense of gratitude towards them all, who have imparted their valuable time, energy and intellect towards the beautification of my project. I express my sincere gratitude to our principal & our coordinator for their continuous support and encouragement. I extend my sincere gratitude to PROF. PRATIBHA JITESH my guide for guiding me throughout the project and for helping me whenever required. I also thank my collage library for providing me with necessary books and magazines. Last but not the least, I also thank My God, My parents and My friends for their contribution towards the project.
Objective of the project
This project has been undertaken with following objectives in mind:
To understand the Insurance Sector in India, it’s nature & functioning.
To understand the concept of Aviation Insurance.
To comprehend the impacts of the new norms on the functioning of the Insurance sector in India.
To understand how these norms are put to practice. This involves understanding of the coalition of input data, the process of data sorting, computing according to the norms, assessing different stress scenarios and the final output of such
PROJECT REPORT ON
AVIATION INSURANCE
T.Y.BBI (SEMESTER VI)
ACADEMIC YEAR: 2011– 2012
SUBMITTED BY:
PAYAL PEDNEKAR.
ROLL NO: 1182326
PROJECT GUIDE
PROF. PRATIBHA JITESH.
VIDYA PRASARAK MANDAL’S
R. Z. SHAH COLLEGE OF ART’S SCIENCE AND COMMERCE
MITNAGAR ROAD, MULUND (EAST) MUMBAI - 400081
DECLERATION I Payal Pednekar the student of Banking and Insurance Semester 6th (2011-12) hereby declare that I have completed the project on Aviation Insurance.
The information submitted is true and original to the best of my knowledge.
Signature
Date:
Place:
ACKNOWLEDGEMENT
Words fall short to express my deep sense of gratitude towards them all, who have imparted their valuable time, energy and intellect towards the beautification of my project. I express my sincere gratitude to our principal & our coordinator for their continuous support and encouragement. I extend my sincere gratitude to PROF. PRATIBHA JITESH my guide for guiding me throughout the project and for helping me whenever required. I also thank my collage library for providing me with necessary books and magazines. Last but not the least, I also thank My God, My parents and My friends for their contribution towards the project.
Objective of the project
This project has been undertaken with following objectives in mind:
To understand the Insurance Sector in India, it’s nature & functioning.
To understand the concept of Aviation Insurance.
To comprehend the impacts of the new norms on the functioning of the Insurance sector in India.
To understand how these norms are put to practice. This involves understanding of the coalition of input data, the process of data sorting, computing according to the norms, assessing different stress scenarios and the final output of such
Bibliography: The Insurance Act, 1938 The Insurance Act, 1938 was the first legislation governing all forms of insurance to provide strict state control over insurance business. General Insurance Business (Nationalization) Act, 1972 The General Insurance Business (Nationalization) Act 1972 was enacted to nationalize the 100 odd general insurance companies and subsequently merging them into four companies Insurance Regulatory and Development Authority Act, 1999 Till 1999, there were not any private insurance companies in Indian insurance sector Under the new dispensation Indian insurance companies in private sector were permitted to operate in India with the following conditions: Company is formed and registered under the Companies Act, 1956. 1.6 Role & Functions of IRDA: Section 14 of IRDA Act, 1999 lays down the duties, powers and functions of IRDA.