between insurance and hedging Insurance is generally an action taken to offset the impact of a negative event. Taking out insurance is a bet that something bad may happen and that protection against it is needed. Hedging is a type of insurance. However‚ hedging is a markedly different method of insurance from home‚ auto and flood insurance. Hedging refers to any series of actions taken to offset the potential risk of losses on a financial investment. Medical‚ home‚ auto and flood insurance policies
Premium Insurance
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‚
Premium Insurance Ship Cargo
INSURANCE AND RISK MANAGEMENT SOLUTIONS TO STUDY QUESTIONS CHAPTER 1: Nature of risk and its management 1. Explain the meaning of risk. In your explanation‚ state the relationship between risk and uncertainty. Risk is defined as a condition where there is the possibility of an adverse deviation from an expected outcome. That is‚ there is the possibility of loss. Risk is a state of the real world in which a possibility of loss exists‚ while uncertainty is a state of mind characterised
Free Insurance Risk
INDUSTRIAL ANALYSIS OF INSURANCE INDUSRTY INDEX 1. INTRODUCTION……………………………………………………………3 2. OBJECTIVES OF THE STUDY………………………………………..........8 3. GLOBAL SCENARIO……………………………………………………….9 4. INDIAN SCENARIO……………………………………………………….11 5. EMERGENCE OF IRDA…………………………………………………...19 6. MARKET STRUCTURE……………………………………………………36 7. PEST ANALYSIS…………………………………………………………...37 8. PORTERS FIVE FORCES………………………………………………….61 9. PERFORMANCE ANALYSIS……………………………………………..68 10. GLOBAL
Premium Insurance
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
Premium Insurance
CHAPTER - 1 INSURANCE 1.1 Introduction In law and economics‚ insurance is a form of risk management primarily used to hedge against the risk of a contingent‚ uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss‚ from one entity to another‚ in exchange for payment. An insurer is a company selling the insurance; an insured‚ or policyholder‚ is the person or entity buying the insurance policy. The insurance rate is a factor used to determine the amount to be charged
Premium Insurance
lead to greater operational threat.” Insurance is one of the tools for risk management that aims at reducing the risk on the day-to-day life of individuals‚ organisation and society. At the same time‚ it should also be appreciated that insurance cannot be utilised as a risk free tool for all types of situations. Insurance provides risk management solutions to many situations that fall within the competence of human judgement and managerial skills. Insurance is very important in today’s world there
Premium Insurance
A2 law: tort: Vicarious Liability Question 2-Fairness/Unfairness. Vicarious liability arises when one party is responsible for the tort of another. This situation occurs frequently when an employer is held responsible for the torts committed by an employee. An employer can only be held responsible for the torts of an employee‚ not for an independent contractor. There are also some rules that must be satisfied. First it must be proven that the tortfeaser is an employee. The act the tortfeaser
Premium Employment Tort law Strict liability
Souvik Guha Location : Mumbai ISB&M‚Kolkata(PGPBM 2011-13) April 23rd 2012 to September 23rd 2012 Topic: Research on Sales & Position of Insurance Products in India Institute Guide: This is to certify that the Project Work titled “Research on sales & position of Insurance Products in India” is a bonafide work of Souvik Guha (Roll No: P/MN/R/11/001) carried out in partial fulfillment for the award of PGPBM Trimester 4 of ISB&M‚
Premium Insurance
required to be followed. The following approaches were followed in conducting this term paper. 1.1 Origin of the Report: The report is a partial requirement of the course Risk Management & Insurance (FIN 410). That is why our honorable instructor assigned us to do a term paper on Reliance Insurance Company Limited. The report is conducted based on the financial statement and the website of the company. This report is a reflection of what we have learned in between the course. 1.2 Objective
Premium Insurance Financial ratio Balance sheet