MARINE INSURANCE Marine insurance is the indemnity for the loss of cargo or damage to ships during the shipment. The risks that marine insurance covers are fire‚ seizures‚ wars‚ accidents or causalities which take place over the sea. The winds and waves are not included as risks in the marine insurance. The Indian Marine Insurance Act‚ 1963 is imbibed from the Marine Insurance Act‚ 1906. Though the Marine Insurance Act is deep in its insurance coverage‚ it does not provide for losses that occur
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OF INDEX MONSOON INSURANCE IN INDIA Literature review • AGRICULTURAL INSURANCE IN INDIA-A PERSPECTIVE By Dr. A. Amarender Reddy Scientist (Agricultural Economics) Indian Institute of Pulses Research‚ Kanpur-208024. Abstract Background the paper reviewed the innovative techniques in agricultural/rural insurance‚ which overcome some of the disadvantages of yield based group insurance and suggests rainfall (weather) index insurance as a better alternative/complement
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The Nature of Insurance came about to offset any loss that an individual or those engaged in business may suffer through the occurrence of some unforeseen event. To offset this loss the commercial world developed the contract of insurance. In return for a fee the individual‚ or the business enterprise‚ would be indemnified for the loss suffered on the occurrence of the event insured against. Contracts of insurance cover a wide field such as life assurance‚ personal accident public liability‚ damage
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Insurance may be describedas a social device to reduce or eliminate risk of life and property. Under the plan of insurance‚ a large number of people associate themselves by sharing risk‚ attached to individual. The risk‚ which can be insured against include fire‚ the peril of sea‚ death‚ incident‚ & burglary. Any risk contingent upon these may be insured against at a premium commensurate with the risk involved. Insurance is actually a contract between 2 parties whereby one party called insurer
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Introduction It is said that marine insurance started sometime by the end 12th century in North Italy though some writers opine that it was in 3000 BC (not in the present form) when the Chinese merchants were dispersing their shipments along with several vessels with a view to minimize the damage to the shipments. Then a time came when the insurance of ships and cargo came in the form of bottomry that was essentially a monetary protection in the case the cargo is lost at sea or damaged. Then‚
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Car insurance is at the top of the totem pole for anyone who owns a vehicle. You may find yourself completely overwhelmed when you are searching for insurance. Read on to find some useful tips on how to sort through all the information so that you can get the right amount of coverage for the best price. If you drive fewer miles per year‚ your insurance rates will decrease. The majority of car insurance companies offer a discount for drivers who log less miles. When purchasing auto insurance for
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security that in case unprecedented happens in their property or assets‚ they have a protection plan that can shoulder the expenses. Homeowner insurance is an insurance that protects your home and personal belongings from fire‚ theft‚ vandalism and other perils. It is an important purchase that protects your assets and satisfies your mortgage lender. You may have questions about Homeowner insurance and I would advise you need to consider the following factors: Who needs homeowner insurance/why should
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CHAPTER – I INTRODUCTION 1.1 GENERAL INTRODUCTION In a highly competitive market it is a great challenge for an industry to be amongst the list of top industries in a country like India. If the target goal is to be achieved there must be good industrial relations between management and labourers. From the time of production to sale of product‚ each and every member from the high level of executive to low level of worker should work together. Once the problems arise between the
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Types of Life Insurance Policy Term Policy Term life insurance is the most affordable type of life insurance available. It is designed to meet temporary life insurance needs; providing protection for a specified period of time‚ the term. For example‚ a term of 10‚ 20 or 30 years. This type of life insurance makes sense if you have financial needs that will diminish over time‚ such as a home mortgage or a child’s tuition. Each year‚ a premium is paid to cover the risk of death during that year
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CROP INSURANCE: A Tool to save Farmers from Calamities EXECUTIVE SUMMARY Crop insurance is one of the various types of insurance that are offered to the people. This insurance is directed to the farmers and agriculturists. This Crop insurance scheme has been going on since the time of Kharif 1985. This insurance offers financial assistance for risk management in agriculture. This insurance policy is a relief scheme for the farmers whose crops get spoiled during natural catastrophe. The
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