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
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this is supporting the organisation to remain the leading insurance market". Good afternoon ladies and gentleman. Welcome to the presentation. Today‚ I am going to discuss the following question: ”How being constantly original supports Lloyd’s to remain the leading insurance market?” Before I start describing and analyzing the true effect of this unique brand idea on maintaining the status of Lloyd’s as the world’s leading specialist insurance market‚ we need to understand what it really stands for
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INSURANCE 2020 – THE PATH AHEAD Introduction Insurance is a social device which help the public to transfer the risk which is integrated part of the human life. It’s been years this term called insurance generated. Now one of the most emerging and greening sector in India is insurance. The needs and preference of a customer is changing day by day. The people are more aware about the need for diverting the risk to a third party by taking insurance. They also consider insurance as an investment
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Insurance sector in India Index Topic Page numbers 1. Brief history of the Insurance sector in India 1 – 3 2. Life Insurance industry in India 3 – 31 - Market structure - Product mix and margins - Key factors driving growth and profitability - Market share dynamics – LIC v/s Private cos - Analysis of the big 5 private players - Life Re-insurance 3. Non-Life insurance industry in India 32 – 42 - Market structure and products - Market share dynamics - Impact
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in other industries. To the economist‚ a threat of substitutes exists when a product’s demand is affected by the price change of a substitute product. A product’s price elasticity is affected by substitute products - as more substitutes become available‚ the demand becomes more elastic since customers have more alternatives. A close substitute product constrains the ability of firms in an industry to raise prices. The competition engendered by a Threat of Substitute comes from products outside
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The Taliban is arguably one of the biggest hybrid threats that US forces face today. Every soldier knows them as our enemy. But what is their history? How have they been able to sustain themselves for so long? These are some of the questions I will try to answer while highlighting the threat they pose internally in Afghanistan and abroad. The first thought that comes to mind when thinking about the Taliban is terrorist organization. One cannot forget‚ however‚ that the Taliban was the recognized
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the impact of competition in the field of Insurance Industry Huge opportunity seen in pet life insurance Priya Sheth With rising veterinary costs‚ there is an increasing demand for health insurance for pets‚ although this product is currently not available. On the other hand‚ pet life insurance which is available‚ finds hardly any takers. “Pet health insurance as a product is not available in India today due to the small market size of pet insurance. Due to the high costs of maintaining a
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MARINE INSURANCE Marine insurance is the indemnity for the loss of cargo or damage to ships during the shipment. The risks that marine insurance covers are fire‚ seizures‚ wars‚ accidents or causalities which take place over the sea. The winds and waves are not included as risks in the marine insurance. The Indian Marine Insurance Act‚ 1963 is imbibed from the Marine Insurance Act‚ 1906. Though the Marine Insurance Act is deep in its insurance coverage‚ it does not provide for losses that occur
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Insurance Insurance a defensive measure used against future conditional losses to hedge the possible risks of the future. It is a legal contract that protects a person from contingent risk of losses through financial means and provides a means for individuals and societies to handle some of the risks faced in daily life. Policies the contracts of insurance that are provided by insurance companies. Premium the regular amount charged from customers by the insurance companies‚ which is
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Industry Profile * History of Insurance * Types of Insurance * Life Insurance * Non Life Insurance | * Development of Life Insurance in India * Development of Life Insurance in Rural India * IRDA (Insurance Regulatory Development Authority) * Advantage of Life Insurance * Limitation of Life Insurance | The History of Insurance Although insurance may have been used by the Babylonians‚ the Greeks and the Romans‚ insurance in the modern sense originated
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