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1. PRINCIPAL AND PRACTICE OF INSURANCE

2. TOPIC
INSURANCE ; CONCEPT, PRINCIPLE, ITS
RELEVANCE IN DEVELOPING COUNTRY LIKE
INDIA AND ATTITUDE TOWARDS THE
INSURANCE COVER.

3. CONTENTS
 INTRODUCTION
 IMPORTANT TERMS IN INSURANCE
 SCOPE OF INSURANCE
 FUNCTION OF INSURANCE
 KINDS OF INSURANCE
 PRINCIPLE OF INSURANCE
 RELEVANCE OF INSURANCE
 INSURANCE AND ECONOMIC DEVELOPMENT
 ATTITUDE TOWARDS INSURANCE

4. INTRODUCTION
 Defination of insurance contents the
following feature;
 It is a contract
 Whereby an insurer assumes the risk of insured
 And promises to pay a certain amount of money
 On the happening of a specified event
 In consideration of the premium paid by insured

5. IMPORTANTTERMSININSURANCE
o Insurance policy
o Insurer
o Insured
o Premium
o Compensation
o Insured amount
o contingency

6. SCOPEOFINSURANCE
 Sharing of risk
 Co-operative instrument
 Evaluation of risk
 Payment is linked to contingency
 Contract
 Consideration
 Good faith
 The amount

7. Functionsofinsurance
Primary function
Secondary
function
Other function

8. KINDSOFINSURANCE
LIFE
INSURANCE GENERAL
INSURANCE

9. GENERALINSURANCE
 Marine insurance
 Fire insurance
 Social insurance
 Double insurance
 Reinsurance
 Over insurance
 Other insurance

10. PRINCIPLEOFINSURANCE
 Principle of insurable interest
 Principle of indemnity
 Principle of subrogation
 Principle of causa proxima
 Principle of contribution
 Principle of utmost good faith
 Principle of mitigation of losses

11. RELEVANCEOFINSURANCE
 Relevance and useful for individual
 Relevance and useful for business
 Relevance and useful for society

12. RELEVANCEANDUSEFULNESSFORINDIVIDUAL
 Provides saftey and security
 Acts as movitor
 Encourages saving
 Eliminates dependency
 Profitable investment
 Fulfills needs of a person

13. RELEVANCEANDUSEFULFORBUSINESS
 Uncertainty of business losses is contained
 Helpful in raising loans
 Helpful in raising motivation
 Helpful in partnership concerns
 Welfare of employee

14. RELEVANCEANDUSEFULTOSOCIETY
 Helpful in economic growth
 Protection of wealth

15. INSURANCEANDECONOMICDEVELOPMENT
 Providing fund for development
 Helping international trade
 Safety and security of property
 Encouraging saving
 Availability of capital
 Better creditworthiness
 Helping financial institutions
 Helping the service sector
 Protection against risk

16. ATTITUDETOWARDSINSURANCE
GENERAL ATTITUDES
FROM SOCIAL POINT OFVIEW
COMMOM PERECEPTION

17. THANK YOU