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INSURANCE Making a difference for life Presented By : KhusbooSureka Roll # 10115
Agenda: Introduction to Insurance. Elements of Insurance Contract. Historical Background. Types of Insurance. How Does An Insurance Works? Insurance & Its Effect In Our Daily Life. Insurance Gives Compensation Not Profit. Source : http://en.wikipedia.org/wiki/Insurance http://historiesofnepal.blogspot.com/2010/09/life-insurance-in-nepal.html 2
INTRODUCTION TO INSURANCE ,[object Object]
Three parties contract.
Written Agreement.
Distributes the risks.
Legal Agreement.
Assumes the Risk. 3
Element of insurance contract ,[object Object]
The insurer’s obligation to indemnify.
The insurer assumes the risk of loss.
As a consideration insured or policy holder have to pay a premium to the insurance company.4
HISTORICALBACKGROUND ,[object Object]
Nepal Insurance and Transport Company in 2016
Nepal Insurance Co. Ltd in 2048
RastriyaBeema Corporation under insurance Act 2025 .
In 2043 New Insurance Act was introduced
National life and general insurance Co. Ltd  from the private sector in 2043. Source : http://en.wikipedia.org/wiki/Insurance, http://historiesofnepal.blogspot.com/2010/09/life-insurance-in-nepal.html 5
TYPES OF INSURANCE Insurance Cover Various Types of Risk Underthe Four Heading. They are: ,[object Object]
Marine Insurance

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