uncertain events like theft‚ fire‚ accident‚ etc. Insurance is a financial service for collecting the savings of public and providing them with risk coverage. The main function of insurance is to provide protection against the possible chances of generating losses. It eliminates worries and miseries of losses by destruction of property and death. It also provides capital to the society as the funds accumulated are invested in productive heads. Insurance comes under the service sector and while marketing
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Prudential Insurance Company for $1 billion in cash and debt. The merger created the biggest healthcare company in the United States with 22.4 million customers (Freudenheim). In July of the same year‚ Aetna had just purchased NYLCare from New York Life Insurance to become the fourth largest managed-care company‚ and it was still in the process of integrating (3-99 CV 398-H). The Prudential Health Care merger was the second big merger for Aetna that year. However‚ Prudential Life Insurance‚ wanting
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marks) “At the heart of every insurance transaction is a requirement that both parties exercise utmost good faith towards each other….The principle is…sometimes expressed by saying that insurance contracts are contracts uberrimae fidae.” (Petony‚ Graw‚ Lennard and Parker‚ Understanding Business Law‚ 5th ed‚ Lexis Nexis‚ 2011‚ p702) Required: a. Explain what is meant by “utmost good faith” and why it is of particular importance in the context of insurance contracts. (10 marks) b. How is
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Chapter 6 Progressive delivers the unexpected – Progressive Insurance Case description It’s a steamy Saturday in Houston‚ a day so piping hot that one would gladly consider diving into a vat of Texas chili for relief. But chili is a messy business‚ so instead‚ half the population seems to have taken refuge in their air-conditioned cars‚ choking Houston’s freeways as a result. For Kristen Botello‚ all those cars mean just one thing: lots of accidents. She’s not rooting for wrecks. But she knows
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GROUP INSURANCE NIRANJANA MAJITHIA DEGREE COLLEGE GROUP NAME: 09-ANIKET KAMBLE 10-GAURI KONDALKAR 11- MINAL MISTRY 13-DAKSHA PAWALE 14-VISHKHA RAWOOL 15- RONAK SATIKUWAR 16-TORAL SAWANT STD: SECOND YEAR BANKING & INSURANCE PROJECT NAME: GROUP INSURANCE SUBJECT: INNOVATION IN BANKING & INSURANCE GUIDED BY: PROFF. SHIVANGI TRIPATHI GROUP INSURANCE DEFINATION Group Insurance: insurance that is
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- Cheapest Insurance Quotes - 5 Tips When you at long last purchase the car you were planning to get‚ the energy can be tangible. Simply realizing that you now be able to journey around town in your new arrangement of wheels can be exceptionally energizing. That is the reason it is dependably somewhat of a frustration in the wake of purchasing a car to need to consider purchasing car insurance. You are without a doubt going to need to purchase the cheapest-conceivable car insurance - but then you
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What is Workmen’s Compensation Insurance Workmen’s Compensation Insurance is insurance paid by companies to provide benefits to employees who become ill or injured on the job. Through this program‚ workers are provided with benefits and medical care‚ and employers have the assurance that they will not be sued by the employee. Who Can be Insured This insurance policy is essential for each and every employer‚ either as the principal or the contractor who engages “workmen” as defined by the Workmen’s
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Insurance Reforms in India: FDI Cap to relax to 49 Percent 15 September‚ 2009‚ Business News - No Comment Ads by Google The Indian Government is keen on getting the current Foreign Direct Investment (FDI) cap raised from 26% so as to enable foreign investors up their stakes in insuranceorganisations in India. While the Insurance Regulatory Authority of India (IRDA) has been holding the FDI cap steady at 26%‚ there have been lobbying from various stake holders in the insurance industry to increase
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Overview Gibson Insurance Company has tasked Rebecca Hampton‚ the controller‚ with reviewing the company ’s allocation of corporate support costs in order to better assign the cost attributed to product lines and business units. This is important because it would help to provide better information for pricing decisions‚ sales compensation‚ and focus on areas in cost improvement. Gibson sells two categories of financial products: annuities and life insurance. They are both sold by in-house sales
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To understand the internal Recruitment process at ICICI Prudential Life Insurance To identify areas where there can be scope for improvement To give suitable recommendation to streamline the hiring process METHODOLOGY The insurance sector is marked with a high level of attrition and therefore recruitment process becomes a crucial function of the organization. At ICICI Prudential Life Insurance‚ recruitment is all time high during May-June and Oct-Nov. The attrition is high
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