Chapter 34 Motor Insurance‚ Burglary‚ and Personal Accident Insurance Slide prepared prepared by: by: Slide AbdullahAl Al Yousuf Yousuf Khan Khan Abdullah Assistant Professor Professor -- IUBAT IUBAT Assistant McGraw-Hill/Irwin Copyright © 2006 by The McGraw-Hill Companies‚ Inc. All rights reserved. Motor Insurance • Motor insurance got recently a great momentum. • In the old times‚ persons who were injured or got killed by motor accident‚ for the negligence of the motorists‚ could not get financial
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LAW INSURANCE LAW ASSIGNMENT 3/10/2014 PART A: HISTORY OF INSURANCE LEGISLATION IN KENYA The notion of insurance in Kenya can be traced back to the “social insurance programme” which for a long time has been around Africa. However‚ the history of the development of commercial insurance in Kenya is closely related to its colonial heritage. Like some African and other developing countries‚ there was no specific insurance legislation in Kenya until 1960‚ when the Insurance Ordinance
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Implications of FDI in Insurance To study the impact of FDI in insurance we first look at the how the Indian insurance sector has evolved over the years. Indian insurance sector has experienced different phases from being an open competitive market to being nationalized and back to deregulation. The Indian insurance story began in India in the year 1818 with the establishment of the Oriental Life Insurance Company in Kolkata. In the year 1912 the Indian Life Insurance Companies Act came into existence
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management work wiped out in an instant by legal claim proceedings or class action filing. Insurance issues arise throughout the conduct of any legal claim action‚ from considerations on whether to file the claim in the first place‚ through settlement and to final resolution should the case proceed to trial. From the underwriter setting up the policy to the handling of the claim during the legal process‚ the duty of insurance companies should be one of UTMOST Good faith or “uberrima fides”. What happens when
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Introduction The global insurance industry seems to have escaped the worst of the financial crisis in comparison to other financial institutions. Day to day business has been relatively unaffected but the area that gave the most cause for concern has arisen from exposures to risky financial instruments. “The Reactions Magazine’s Global Insurance Conference 2009” was held in Swissotel‚ Zurich‚ Switzerland. At this conference the financial services industry tried to re set itself following the worst
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young children. You want to get life insurance to protect your children financially until they are old enough to produce their own incomes. Would term life insurance or permanent life insurance be a better choice in this situation? Why? (2-4 sentences. 1.0 points) 4. Describe two types of insurance that you have or are likely to have at some point in your life. What risks are these insurance plans protecting you against? Why do you think these types of insurance are important? (4-8 sentences. 3.0
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STAPLE CENTRE Case: GLIC Insurance Corporation decides to divest one of its business units. Considering the given case‚ we have decided to divest the All-World GLIC business unit to Aviva Life Insurance Company. Aviva is a leading insurance company in Asia which has 43million customers across 21 countries and operates in only savings‚ general and health insurance‚ and fund management products and services. Aviva focuses on growing their business
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Banking & Insurance Effect of Financial Crisis on Insurance Business João Ferreira Leandro Barbosa Luís Leão Mikolaj Mokwinski Index Introduction .........................................................................................................................................3 How do insurance companies work? ...................................................................................................4 Modern financial crisis affects the activity of insurers by 3 main mechanisms
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Agricultural Insurance in India Problems and Prospects Agriculture production and farm incomes in India are frequently affected by natural disasters such as droughts‚ floods‚ cyclones‚ storms‚ landslides and earthquakes. Susceptibility of agriculture to these disasters is compounded by the outbreak of epidemics and man-made disasters such as fire‚ sale of spurious seeds‚ fertilizers and pesticides‚ price crashes etc. All these events severely affect farmers through loss in production and farm
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http://findarticles.com/p/articles/mi_hb092/is_n3_v26/ai_n28654897/?tag=content;col1 future role of insurance industry in pakistan The insurance business in Pakistan and I would prefer to do describe it as a business rather than an industry - is an interesting application of this paradox. Over the years‚ the fatalism enjoined by Islam has been underwritten by a more pragmatic mechanism‚ which has offered various degrees of financial protection - on the assumption that whereas it may be advisable
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