INDEX * EXCECUTIVE SUMMARY OF INSURANCE SECTOR * INTRODUCTION * HISTORY OF INSURANCE SECTOR * TYPES OF INSURANCE * PRINCIPLES OF INSURANCE SECTOR * STRATEGIC MANAGER * ROLE OF INSURANCE SECTOR * CONCLUSION * BIBLOGRAPHY. EXECUTIVE SUMMARY ON INSURANCE SECTOR : Insurance sector in India is one of the booming sectors of the economy and is growing at the rate of 15-20 per cent annum. Together with banking services‚ it contributes to about 7
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Indian Life Insurance Industry in Post Liberalization Dr.Anshuja Tiwari‚ Assistant Professor‚ Barkatullah University Babita Yadav‚ Faculty of Managment Abstract India is fast emerging on the world map as a strong economy and a global power. With a huge population and large untapped market‚ life insurance happens to be a big opportunity in India. Soon after the liberalization‚ there was a remarkable improvement in the Indian life insurance industry. After 1991‚ the Indian life insurance industry
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INSURANCE LAW PROJECT | HEALTH INSURANCE AND REGULATORY ISSUES UNDER IRDA ACT 1999 | Rudresh Pratap Singh Roll No. 49 Semester V RMLNLU | Contents INTRODUCTION 4 The Insurance Regulatory and Development Authority 5 Regulatory issues in the health insurance business 5 It should be the duty of the regulator (IRDA) to ensure that the new entrant in the health insurance sector: 5 II. Regulations Pertaining To Consumer
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Principles of Insurance Principles of Insurance An insurance contract is a type of a legal contract in which a type of risk is transferred to an insurance company in return of a premium by the policyholder. As by their nature‚ insurance contracts may be exposed to misconduct by both parties: the underwriter and the policyholder. Therefore six principles of insurance‚ which are recognised by law‚ were created to reduce this type of abuse. In the following pages I will explain these principles
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Life Insurance Life insurance is a contract that pledges payment of an amount to the person assured (or his nominee) on the happening of the event insured against. Life insurance or life assurance is a contract between the insurer and the policy owner (policyholder) whereby a benefit is paid to the designated Beneficiary (or Beneficiaries) if an insured event occurs which is covered by the policy. In return‚ the policy owner (or policy payer) agrees to pay a stipulated amount called a premium
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Automobile Insurance "Insurance is a legal contract that protects people from the financial costs that result from loss of life‚ loss of health‚ lawsuits or property damage."(Nielson.) This protection is given to the customer in exchange for a monthly payment to the company. This is a legal contract which is known as a policy‚ binds the customer to the insurance company for the duration of the policy. Insurance‚ whether it be life‚ health or auto‚ helps customers feel safe from everyday risks
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Seven Principles of Insurance With Examples The seven principles of insurance are :- Principle of Uberrimae fidei (Utmost Good Faith)‚ Principle of Insurable Interest‚ Principle of Indemnity‚ Principle of Contribution‚ Principle of Subrogation‚ Principle of Loss Minimization‚ and Principle of Causa Proxima (Nearest Cause). 1. Principle of Uberrimae fidei (Utmost Good Faith) Principle of Uberrimae fidei (a Latin phrase)‚ or in simple english words‚ the Principle of Utmost Good Faith
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Insurance & technology to better serve Emerging Consumers: Learning to improve access & service Zurich Financial Services Group Contents Acknowledgements A note on the authors Introduction I. A new data universe: understanding customers better Data mining Monitor behavior and trends Implications for insurance The bank in your hand: providing financial access through mobile phones Branchless banking SMS advertising and sales Implications for insurance 1 1 2 3 4 4 5 II. 6 6 8 9
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A Brief History of Insurance From the early days of civilisation men have formed societies whose members promised to help each other in the event of a misfortune. As early as 900 BC‚ the merchants of the Rhodes Island in the Mediterranean agreed to share certain risks among themselves. The modern concept of insurance — where insurers collect small premiums from their policy holders‚ pay claims to those of them who had incurred losses and make a profit for taking the risks after deducting business
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ABOITIZ SHIPPING CORPORATION V NEW INDIA ASSURANCE COMPANY‚ LTD. [CITATION] QUISUMBING; May 2‚ 2006 NATURE Petition for review on certiorari FACTS - Societe Francaise Des Colloides loaded a cargo of textiles and auxiliary chemicals from France on board a vessel owned by Franco-Belgian Services‚ Inc. - The cargo was consigned to General Textile‚ Inc.‚ in Manila and insured by respondent New India Assurance Company‚ Ltd. - While in Hongkong‚ the cargo was transferred to M/V P. Aboitiz
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