GROWTH OF MOTOR INSURANCE Vehicle first appeared on the roads in United Kingdom (UK) during 1880’s‚ but the first motor insurance is issued during 1890’s. Therefore it is almost 10 years time people use a motor vehicle as a mode of transportation without insurance coverage. Therefore‚ through their (insurer) experiences on other classes of insurance such as fire‚ theft & liability‚ they introduce the motor insurance towards the use of transportation. Then they emphasis it (motor insurance) on the subject
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Insurance Sector in India Last Updated: August 2013 Brief Introduction Currently India is a US$41 billion industry. Currently‚ in India only two million people (0.2% of the total population of 1 billion) are covered under Mediclaim‚ whereas in developed nations like USA about 75% of the total population are covered under some insurance scheme. A robust insurance sector is a boon to a country’s economy. The sector facilitates long-term funds for infrastructure development and simultaneously
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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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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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1. What is insurance 2. Principles of insurance 3. Financing Health care in India and World wide 4. Financing oral health care in India and world wide 5. Health insurance evolution‚ trends‚ current trends 6. Need of insurance 7. Dental insurance around the world 8. Current scenario of dental insurance in india Review of literature 1. History/evolution of dental insurance 2. Current trends of insurance in various countries 3. Dental insurance in India
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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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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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returned because a policy of insurance is a contract of indemnity. Second if the insurer does not run the risk‚ the consideration for which the premium or money was put into his hand‚ fails‚ and therefore he ought to return it. Another rule is that if the risk of the contract of indemnity has once commenced‚ there shall be no apportionment or return of the premium afterwards. 2. Explain difference of insurance and wages ? (6/10) Answer : Insurance contract are : ❖ The
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Tiffanny Santos Week 4 Outline Intro: For someone like me who has no health insurance it is very hard to keep up with my healthcare‚ but with the new health care laws that are coming about it may be a little easier for people to stay healthy. Thesis: Healthcare is a very important part of life‚ it keeps people healthy‚ but is also non-affordable if you do not have any health insurance. A. Why is healthcare important? Longer more productive living for one To ensure a healthy
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Leveraging Time Indian Insurance Sector Innovate Now Or Stagnate fasfdor December 2011 www.deloitte.com/in Contents Indian Insurance sector poised for its next stage of growth The puzzle of untapped potential Redefining Customer Value Proposition Improving Operational Performance Key challenges in leveraging Innovation Improving the Innovation Quotient Conclusion Contacts 1 2 3 6 7 8 12 13 Indian Insurance sector poised for its next stage of growth The insurance sector in India has
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