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Define insurance.
Differentiate between compulsory and non-compulsory insurance
Why would businesses need insurance
Difference between insurance and assurance
principles of insurance
Concepts in insurance
Grade 12 subject content
Define insurance.
Differentiate between compulsory and non-compulsory insurance
Why would businesses need insurance
Difference between insurance and assurance
principles of insurance
Concepts in insurance
Grade 12 subject content
Hazards Risk and Perils, a complete explanation .Sagar Garg
A complete description of risk hazard and perils with gif pictures.
download it for the best view. as gif images on work when it was run on power point platform
Definition and basic characteristics of insurance. Requirements of an insurable risk. Types of insurance. Benefits and Costs of insurance to society. Fundamental legal principles of insurance. Functions of insurer. IRDA and recent trends in insurance sector in India.
Insurance is a social device for spreading the chance of financial loss among
a large number of people. Insurance protects against pure risk.
Risk is the possibility of losing economic security.
Risk can be of two kinds: speculative or pure And only pure risks are insurable
Pure risk involves only two possible outcomes:
loss or no loss, with no possibility of gain or profit
Speculative Risk
involves three possible outcomes: loss, no loss or profit
The Law of Large Numbers:
The average of the results obtained from a large number of trials should
be close to the expected value.
Underwriting:
The process of selecting certain types of risks that have historically
produced a profit.
Peril:
A potential cause of loss. Accident, fire, and theft are common perils.
Hazard:
Anything that increases the seriousness of a loss or increases
the likelihood that a loss will occur.
Adverse Selection:
Is the tendency of person with a higher than average chance
of loss to seek insurance at the average state, which if not
Controlled by underwriting, result in higher than expected
Loss levels.
Insurance is not same as gambling. Gambling is creat a new
speculative risk and socially is unproductive but insurance
Deals with pure risk and socially is productive.
Insurance is not same as hedging. Insurance involves the
Transfer of pure risk and reduce objective risk but hedging
Involves just the transfer of speculative risk not risk
Reduduction.
Types of Insurance:
Private insurance, consist of health insurance, property and
liabilty insurance.
Government Insurance, cnosist of social insurance and other
Government insurance programs.
How does insurance work?
You pay a fee called a premium, and in exchange,
the insurance company agrees to pay you a certain
amount of money
-Basic Characteristics Of Insurance
Pooling of losses
Payment of fortuitous losses
Risk transfer
Indemnification
-Pooling of losses
Spreading of losses incurred by the few over the entire group.
• Key mechanism is “law of large number”.
• Future losses are predicted based on law of large number.
Note
• Pooling of loss is the spreading of losses incurred by the few over the
entire group so that in the process average loss is substituted for actual loss.
• The primary purpose of pooling is to reduce the variation in possible
Outcomes , which reduces risk.
-Payment of fortuitous losses
A fortuitous loss is one that is unforeseen and
unexpected and occurs as a result of chance.
Insurance policies do not cover intentional losses
-Risk Transfer
Risk transfer means that a pure risk is transferred from
the insured to the insurer,who typically is in a stronger
Financial position to pay the loss than the insured.
-Indemnification
Means that the insured is restored to his or her approximate
financial position prior to the occurrence of the loss.
- Insurable Risk
Insurer normally insure only pure risk.
While insuretech has become a major area of interest among VCs, we recognize that few investors in the space have comprehensive knowledge of the industry. To better understand the complexities and opportunities in the space, we have compiled the research report posted below. The report provides an overview of the auto, homeowners, life, and health insurance sectors. We hope you find the presentation insightful and welcome comments and questions.
HUB's supplement guide explains how a business interruption policy covers your lost income during a disaster and how it fits with your overall business insurance solutions.
Learn more at: https://www.hubinternational.com/products/business-insurance/business-interruption-insurance/
Hazards Risk and Perils, a complete explanation .Sagar Garg
A complete description of risk hazard and perils with gif pictures.
download it for the best view. as gif images on work when it was run on power point platform
Definition and basic characteristics of insurance. Requirements of an insurable risk. Types of insurance. Benefits and Costs of insurance to society. Fundamental legal principles of insurance. Functions of insurer. IRDA and recent trends in insurance sector in India.
Insurance is a social device for spreading the chance of financial loss among
a large number of people. Insurance protects against pure risk.
Risk is the possibility of losing economic security.
Risk can be of two kinds: speculative or pure And only pure risks are insurable
Pure risk involves only two possible outcomes:
loss or no loss, with no possibility of gain or profit
Speculative Risk
involves three possible outcomes: loss, no loss or profit
The Law of Large Numbers:
The average of the results obtained from a large number of trials should
be close to the expected value.
Underwriting:
The process of selecting certain types of risks that have historically
produced a profit.
Peril:
A potential cause of loss. Accident, fire, and theft are common perils.
Hazard:
Anything that increases the seriousness of a loss or increases
the likelihood that a loss will occur.
Adverse Selection:
Is the tendency of person with a higher than average chance
of loss to seek insurance at the average state, which if not
Controlled by underwriting, result in higher than expected
Loss levels.
Insurance is not same as gambling. Gambling is creat a new
speculative risk and socially is unproductive but insurance
Deals with pure risk and socially is productive.
Insurance is not same as hedging. Insurance involves the
Transfer of pure risk and reduce objective risk but hedging
Involves just the transfer of speculative risk not risk
Reduduction.
Types of Insurance:
Private insurance, consist of health insurance, property and
liabilty insurance.
Government Insurance, cnosist of social insurance and other
Government insurance programs.
How does insurance work?
You pay a fee called a premium, and in exchange,
the insurance company agrees to pay you a certain
amount of money
-Basic Characteristics Of Insurance
Pooling of losses
Payment of fortuitous losses
Risk transfer
Indemnification
-Pooling of losses
Spreading of losses incurred by the few over the entire group.
• Key mechanism is “law of large number”.
• Future losses are predicted based on law of large number.
Note
• Pooling of loss is the spreading of losses incurred by the few over the
entire group so that in the process average loss is substituted for actual loss.
• The primary purpose of pooling is to reduce the variation in possible
Outcomes , which reduces risk.
-Payment of fortuitous losses
A fortuitous loss is one that is unforeseen and
unexpected and occurs as a result of chance.
Insurance policies do not cover intentional losses
-Risk Transfer
Risk transfer means that a pure risk is transferred from
the insured to the insurer,who typically is in a stronger
Financial position to pay the loss than the insured.
-Indemnification
Means that the insured is restored to his or her approximate
financial position prior to the occurrence of the loss.
- Insurable Risk
Insurer normally insure only pure risk.
While insuretech has become a major area of interest among VCs, we recognize that few investors in the space have comprehensive knowledge of the industry. To better understand the complexities and opportunities in the space, we have compiled the research report posted below. The report provides an overview of the auto, homeowners, life, and health insurance sectors. We hope you find the presentation insightful and welcome comments and questions.
HUB's supplement guide explains how a business interruption policy covers your lost income during a disaster and how it fits with your overall business insurance solutions.
Learn more at: https://www.hubinternational.com/products/business-insurance/business-interruption-insurance/
Protecting Your Business with the Right InsuranceInsideUp
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This is a detailed guide to the differnt tyoes of insurance that you may need as a UK contractor or freelancer. The guide goes into great depth and clearly explains the reasons for protecting your business.
This is a detailed guide to the different types of insurance that you may need as a UK contractor or freelancer. The guide goes into great depth and clearly explains the reasons for protecting your business.
Commercial general liability (CGL) insurance operates as a crucial line of defense for businesses, safeguarding them from financial loss that could occur due to property damage, personal injury, and advertising injury for which their services, operations, or employees may be responsible.
Here we talk about the Business Insurance that why we need this, what are the different type of Insurances we required in our life, Worker Compensation and many more.
Public Liability Insurance With Instant Cover – Tradesman SaverDevon Teal
It’s unfortunate but true – accidents can happen. They come part and parcel with running a business. It doesn’t matter if it’s a member of the public tripping over the cable of a power tool or accidental damage to a client’s vehicle while completing works on their property,
Professional Indemnity Insurance Ultimate Guideakimalvora
https://blog.constructaquote.com/professional-indemnity-insurance-ultimate-guide/
Professional indemnity insurance is essential for you as a business professional or consultant as it could protect your business from legal disputes and accusations of negligence made by your clients. By having this insurance, you are protecting your business from potential claims sought from clients – making it worth the additional insurance premium.
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HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
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Vat Registration is a legal obligation for businesses meeting the threshold requirement, helping companies avoid fines and ramifications. Contact now!
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Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
This PowerPoint presentation is only a small preview of our Toolkits. For more details, visit www.domontconsulting.com
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
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Experience unparalleled EXTENDED STAY and comfort at Skye Residences located just minutes from Toronto Airport. Discover sophisticated accommodations tailored for discerning travelers.
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Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
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Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
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1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
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1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
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Business insurance
1. Business Insurance
Insurance coverage that protects businesses
from losses due to events that may occur during
the normal course of business. There are many
types of insurance for businesses including
coverage for property damage, legal liability
and employee-related risks.
The term “business insurance” pertains to
protecting against operational losses by a
business. What type of loss is covered by a
business insurance policy depends on the
insurance company, the policy wording, and
local limitations.
QUICKBIMA
2. Common Coverage Types
1. Key Person Insurance: A business Key Person is considered so important to the company that loss the person
could cause considerable damage to the company’s financial future. Benefits are paid if the Key Person covered
experiences a disability that prevents working or if the Key Person dies. The remaining partners or owners can use
the benefits only for legitimate business expenses, such as buying the disabled person’s stake in the business or
hiring and training expenses for a replacement. Key Person Insurance is sometimes also called a Buy/Sell
Agreement.
2. General Liability Insurance: This coverage protects the business against liability claims, negligence,
manufacturing or personnel error, bodily injury, or even property damage. Liability insurance often covers the
policyholder's legal fees if the liability or event is covered under the policy.
3. Product Liability: Coverage protects against faulty products and damage, injury, or death from use of the faulty
product.
3. How Asset Insurance Help in Business?
With the business asset insurance, business holders
can acquire different coverage such as rental
income loss, reduction in turnover, increased
operating and functioning costs and the list
continues. Every insurance company has its own
terms and conditions to provide benefits to
their customers. We understand the fact and
are capable of providing different insurance
quotes in the form of comparison.
QUICKBIMA
This type of insurance policy will be able to secure the assets of different
types against natural disasters like flood, fire and many others.
Business owners can also secure their business assets from getting
damaged or theft by getting coverage for them. We provide our
customers with the best and reasonable insurance quotes as we have
tie up with various insurance companies.
4. Benefits Of Professional Business Insurance
Times are hard and there is nothing certain about the future.
This is especially for all those running their own business.
Business is full of risks, whether it is a start up business or
established one. To make sure that the hard owned name
and finance it is important that the business owners should
secure their assets. When it comes to securing business,
there is nothing better than a business insurance. Insurance
can be considered as an investment and lifetime protection.
Insurance provides complete protection to assets, finance,
property and even employees of the company.
There are different types of coverage and liability is also
sometimes limited. Professional business insurance widely
varies. That is why it is recommended that you always
compare the quotes and choose the policy that fits into your
needs.
● Covers service related risks
● Saves your time and money
● Increases your business opportunities
QUICKBIMA
5. How Public Liability Insurance Help in Business?
QUICKBIMA
Benefits
Public liability insurance provides with a wide range of benefits, mentioned
below:
Protection against liability claims
Public liability cover will defend any type of business from legal
responsibility claims. There are chances in which business owners need
to suffer from liability issues.
Prevent business to go under
Accidents are unpredictable. No one knows what it will take place,
affecting your business. If you face any accidental issue, definitely you
will go to a personal accident injury lawyer to protect your case.
Defend employees
Accidents can happen at any time or anywhere while performing the
business activities and processes. In these cases, employees are in
danger as they get indulged in any type of case including a third party.
6. Benefits of Small Business Insurance
QUICKBIMA
Small business owners always think that it is difficult to get a health
insurance, but today there are several options available. Not only health
insurance but other type of professional business insurance is always
available. With us you will get coverage according to your needs. We have
renowned insurance partners associated with us.
Insurance is the most important thing that you will need for your business.
Its absence can keep small business away from economic opportunities.
Health insurance is one of the examples. This insurance will let business
owners.
Recruit high quality workers
Reduce turnover
Limit the worker's disability and much more
Tax advantages
7. What makes business insurance a necessity? How is it helpful for your business?
Quickbima.com provides all the answers.
Averting Natural Calamities is not in your Hands is not a Possibility:
What happens if a sudden fire or a natural calamity like a storm or a landslide destroys your premises or
causes damage to it?This is when a ready at hand policy would be of much use. You can simply process a
claim and land the amount you need for repairs and rectifications. Besides, if you have sought a business
loan, this amount would prove to be of help.
Burglaries and Thefts or Frauds could occur anytime:
Times are becoming more and more uncertain and thefts and burglaries are the order of the day. What
happens if your shop, restaurant or office is burgled? What if unknown entities enter your premises forcibly
and destroy your valuable equipment.
Other Costs would also be covered:
Machinery breakdowns or damages caused to movable items like computers and laptops would also be
covered.
Defend employees
Accidents can happen at any time or anywhere while performing the business activities and processes. In
these cases, employees are in danger as they get indulged in any type of case including a third party.
QUICKBIMA