This document discusses different types of insurers and marketing systems. It describes the main types of private insurers as stock insurers, mutual insurers, reciprocal exchanges, Lloyd's of London, Blue Cross/Blue Shield plans, HMOs, and captives. It also discusses agents and brokers, and the main life and property/casualty insurance marketing systems which include personal selling by agents, direct response, worksite marketing, and independent agencies.
Insurance companies face various risks including technical risk from inaccurate risk assessment, credit risk from policyholder loans, market risk from investments, and operational risks. They assess and mitigate risks through techniques like reinsurance, hedging, controlling large losses, and smoothing results. Regulations require controls for higher risk customers and transactions to prevent money laundering and terrorism financing. Risk management aims to allocate capital proportionate to risks for consistent returns.
Chapter 07 - Financial Operations of Insurers Willy BUN
This document discusses the financial operations of insurers, including their financial statements, methods for measuring financial performance, and ratemaking practices. It covers topics like the balance sheets, income statements, key financial ratios, reserves, and premium calculations for both property/casualty and life insurers. Ratemaking involves setting pure premium rates, loss ratios, debits/credits, and experience/retrospective ratings.
Chapter 03 - Introduction to Risk ManagementWilly BUN
This document provides an overview of risk management. It defines risk management and outlines its key objectives as identifying potential losses and selecting techniques to treat exposures. The main steps in the risk management process are identified as identifying exposures, measuring and analyzing exposures, selecting treatment techniques, and implementing a risk management program. Treatment techniques include risk control methods like avoidance, prevention and reduction, as well as risk financing methods like retention, non-insurance transfers and commercial insurance.
This document discusses various techniques for corporate risk financing, including risk transfer through commercial insurance, risk retention using internal funds, and hybrid techniques combining internal and external sources. It provides details on commercial insurance mechanisms and objectives. Key risk financing techniques include insurance, self-insurance through loss reserves, and captive insurance companies owned by an organization to insure its own risks. Choosing an approach involves considering expected losses, financing costs, control, and other factors to select the most cost-effective option.
This document discusses several fundamental legal principles of insurance:
- The principle of indemnity states that insurers will pay no more than the actual loss amount to prevent profiting from losses.
- The principle of insurable interest requires the insured to have a financial stake in the insured item/person.
- The principle of subrogation allows insurers to recover paid losses from responsible third parties to prevent double recovery.
- The principle of utmost good faith requires honesty between parties in an insurance contract.
It also outlines requirements for a valid insurance contract and characteristics like being aleatory and contracts of adhesion. The document closes by discussing agents' authority and limitations on waivers.
This document provides an overview of insurance and risk. It defines insurance as the pooling of fortuitous losses among a group to spread risk. Key points covered include the characteristics of an insurable risk, how insurance differs from gambling and hedging, the types of private and government insurance, and the social benefits and costs of insurance.
Chapter 6: FINANCIAL OPERATIONS OF I NSURERSMarya Sholevar
1-Liabilities: Loss Reserves
A loss reserve is the estimated cost of settling claims for losses that have already occurred but that have not been paid as of the valuation date . More specifically, the loss reserve is an estimated amount for (1) claims reported and adjusted but not yet paid, (2) claims reported and filed, but not yet adjusted, and (3) claims for losses incurred but not yet reported to the company .
Loss reserves in property and casualty insurance can be classified as case reserves, reserves based on the loss ratio method, and reserves for incurred but not reported claims.
2-Policyholders’ Surplus
Policyholders’ surplus is the difference between an insurance company’s assets and liabilities . It is not calculated directly—it is the “balancing” item on the balance sheet.
If the insurer were to pay all of its liabilities using its assets, the amount remaining would be policyholders’ surplus.
Surplus can be thought of as a cushion that can be drawn upon if liabilities are higher than expected.
Surplus represents the paid-in capital of investors plus retained income from insurance operations and investments over time.
The level of surplus is also an important determinant of the amount of new business that an insurance company can write.
3-Income and Expense Statement
The income and expense statement summarizes revenues received and expenses paid during a specified period of time .
Revenues are cash inflows that the company can claim as income. The two principal sources of revenues for an insurance company are premiums and investment income.
Earned premiums represent the portion of the premiums for which insurance protection has been provided .
Expenses Partially offsetting the company’s revenues were the company’s expenses, which are cash outflows from the business.
The major expenses for an Insurance Company:
Adjusting claims
Paying the insured losses
Underwriting
4-Measuring Profit or Loss
A simple measure that can be used is the insurance company’s loss ratio and expense ratio.
The loss ratio is the ratio of incurred losses and loss adjustment expenses to premiums earned .
Loss ratio= (Incurred losses+Loss adjustment expenses)/Premiums earned
The expense ratio is equal to the company’s underwriting expenses divided by written premiums .
Expense ratio=Underwriting expenses/Premiums written
5-Rate-Making Methods
Insurance companies face various risks including technical risk from inaccurate risk assessment, credit risk from policyholder loans, market risk from investments, and operational risks. They assess and mitigate risks through techniques like reinsurance, hedging, controlling large losses, and smoothing results. Regulations require controls for higher risk customers and transactions to prevent money laundering and terrorism financing. Risk management aims to allocate capital proportionate to risks for consistent returns.
Chapter 07 - Financial Operations of Insurers Willy BUN
This document discusses the financial operations of insurers, including their financial statements, methods for measuring financial performance, and ratemaking practices. It covers topics like the balance sheets, income statements, key financial ratios, reserves, and premium calculations for both property/casualty and life insurers. Ratemaking involves setting pure premium rates, loss ratios, debits/credits, and experience/retrospective ratings.
Chapter 03 - Introduction to Risk ManagementWilly BUN
This document provides an overview of risk management. It defines risk management and outlines its key objectives as identifying potential losses and selecting techniques to treat exposures. The main steps in the risk management process are identified as identifying exposures, measuring and analyzing exposures, selecting treatment techniques, and implementing a risk management program. Treatment techniques include risk control methods like avoidance, prevention and reduction, as well as risk financing methods like retention, non-insurance transfers and commercial insurance.
This document discusses various techniques for corporate risk financing, including risk transfer through commercial insurance, risk retention using internal funds, and hybrid techniques combining internal and external sources. It provides details on commercial insurance mechanisms and objectives. Key risk financing techniques include insurance, self-insurance through loss reserves, and captive insurance companies owned by an organization to insure its own risks. Choosing an approach involves considering expected losses, financing costs, control, and other factors to select the most cost-effective option.
This document discusses several fundamental legal principles of insurance:
- The principle of indemnity states that insurers will pay no more than the actual loss amount to prevent profiting from losses.
- The principle of insurable interest requires the insured to have a financial stake in the insured item/person.
- The principle of subrogation allows insurers to recover paid losses from responsible third parties to prevent double recovery.
- The principle of utmost good faith requires honesty between parties in an insurance contract.
It also outlines requirements for a valid insurance contract and characteristics like being aleatory and contracts of adhesion. The document closes by discussing agents' authority and limitations on waivers.
This document provides an overview of insurance and risk. It defines insurance as the pooling of fortuitous losses among a group to spread risk. Key points covered include the characteristics of an insurable risk, how insurance differs from gambling and hedging, the types of private and government insurance, and the social benefits and costs of insurance.
Chapter 6: FINANCIAL OPERATIONS OF I NSURERSMarya Sholevar
1-Liabilities: Loss Reserves
A loss reserve is the estimated cost of settling claims for losses that have already occurred but that have not been paid as of the valuation date . More specifically, the loss reserve is an estimated amount for (1) claims reported and adjusted but not yet paid, (2) claims reported and filed, but not yet adjusted, and (3) claims for losses incurred but not yet reported to the company .
Loss reserves in property and casualty insurance can be classified as case reserves, reserves based on the loss ratio method, and reserves for incurred but not reported claims.
2-Policyholders’ Surplus
Policyholders’ surplus is the difference between an insurance company’s assets and liabilities . It is not calculated directly—it is the “balancing” item on the balance sheet.
If the insurer were to pay all of its liabilities using its assets, the amount remaining would be policyholders’ surplus.
Surplus can be thought of as a cushion that can be drawn upon if liabilities are higher than expected.
Surplus represents the paid-in capital of investors plus retained income from insurance operations and investments over time.
The level of surplus is also an important determinant of the amount of new business that an insurance company can write.
3-Income and Expense Statement
The income and expense statement summarizes revenues received and expenses paid during a specified period of time .
Revenues are cash inflows that the company can claim as income. The two principal sources of revenues for an insurance company are premiums and investment income.
Earned premiums represent the portion of the premiums for which insurance protection has been provided .
Expenses Partially offsetting the company’s revenues were the company’s expenses, which are cash outflows from the business.
The major expenses for an Insurance Company:
Adjusting claims
Paying the insured losses
Underwriting
4-Measuring Profit or Loss
A simple measure that can be used is the insurance company’s loss ratio and expense ratio.
The loss ratio is the ratio of incurred losses and loss adjustment expenses to premiums earned .
Loss ratio= (Incurred losses+Loss adjustment expenses)/Premiums earned
The expense ratio is equal to the company’s underwriting expenses divided by written premiums .
Expense ratio=Underwriting expenses/Premiums written
5-Rate-Making Methods
Insurance protects individuals and businesses from financial loss by paying compensation for damage to or loss of valuable property and assets. It works by pooling risks among many policyholders, so that the costs of claims made by a few are shared among all. There are important principles that govern insurance, such as insurable interest, utmost good faith, indemnity, contribution, subrogation and average clauses.
The document discusses various types of insurance and risk management strategies. It provides information on auto, health, property, life and disability insurance. It also covers insurance terminology like premiums, deductibles, and factors that influence policy costs. Additionally, the document discusses estate planning tools like wills, trusts, and powers of attorney to transfer assets and minimize taxes after death.
Introduction to risk management and insuranceVipul Kumar
This document provides an introduction and overview of risk management concepts. It defines key terms like risk, peril, and hazard, explaining that risk refers to the possibility of loss, peril is the cause of loss, and hazard increases the possibility of loss. It also distinguishes between pure risk, which only involves the possibility of loss or no loss, and speculative risk, which involves the possibility of both gain and loss. The document discusses different types of pure risks like personal risks, property risks, and liability risks. It also covers the risk management process and various ways of managing risk.
Get helpful insights on types of insurance policy like life insurance, child insurance, investment plans, ulip plans, pension and others. For more information visit - www.aegonreligare.com
This document discusses the relationship between risk and return in investments. It defines total risk as the sum of systematic and unsystematic risk. Systematic risk stems from external market factors that affect all investments, while unsystematic risk is specific to a particular company. The expected return and risk of individual stocks varies, with higher risk investments generally offering higher returns. A portfolio combines multiple assets to reduce overall risk through diversification. The portfolio risk depends on the covariance and correlation between the individual assets' returns. Diversifying across assets with low correlation is an effective way to reduce risk.
Types of insurance By SHAMSIKADALUR MBAshamsikadalur
This document provides an overview of the many different types of insurance that exist. It discusses categories such as life insurance, health insurance, property insurance, auto insurance, and home insurance. Within these categories, it further outlines specific types of insurance like term life, whole life, dental, disability, fire, flood, earthquake, and more. It also explains what types of risks or losses each insurance is intended to cover.
This document provides an overview of marine insurance and key concepts related to business risk management. It defines marine insurance as a contract where the insurer agrees to indemnify the insured for losses from marine adventures. Some key points covered include the meaning and purpose of marine insurance policies, principles like utmost good faith and insurable interest, types of policies and clauses, insured perils and exclusions, losses like total/partial/average losses, and warranties. The document also compares the different levels of coverage under the Institute Cargo Clauses A, B and C.
,
marine insurance
,
types of marine insurance policy
,
features of marine ins. contract
,
marine perils
,
general average loss vs particular average loss
,
differences bet. the marine and fire ins
The document discusses the history and development of insurance in India. It provides definitions of insurance and describes different types of insurance like life, health, automobile, fire insurance. It summarizes the key players in the insurance sector including LIC, private insurers, and the regulatory body IRDA. It also outlines the products offered by LIC and investment policies of insurance companies.
Insurance products 2 ( General Insurance)Rohit Kumar
General Insurance refers to non-life insurance that covers risks other than death, such as home, auto, commercial risks. It is also called property and casualty insurance. General insurance policies are formed through an offer and acceptance process, where the insured pays a premium in exchange for the insurer's promise to provide indemnity. Common types of general insurance include health, liability, motor, marine, and property insurance. Health insurance covers medical costs, while liability insurance covers legal responsibilities. Motor insurance covers car risks, and marine insurance covers shipments. Property insurance protects homes and possessions.
This document discusses various topics related to insurance in the Philippines, including life insurance, non-life insurance, investment of insurance funds, the Insurance Commission as the regulatory body, key provisions of the Insurance Code of the Philippines, and the organizational structure and functions of the Insurance Commission. The summaries provide an overview of the high-level information covered.
In this power Point Presentation i will discuss about the Risk and Different types of Risk. when a Investor invest in a security than what type of Risk he have from the Security.
The Capital Market Line (CML) and Security Market Line (SML) are both half-lines that connect the risk-free asset to the market portfolio. The CML is defined in terms of expected return and total risk, while the SML is defined using expected return and systematic risk. Efficient portfolios lie on the CML, offering the highest return for a given level of risk, while all portfolios should lie on the SML according to the Capital Asset Pricing Model equation.
The document provides an overview of life insurance products in India. It begins by defining insurance and life insurance, and outlines the key principles of insurance including insurable interest, utmost good faith, and indemnity. It then describes various types of life insurance policies like whole life, term life, endowment plans, annuities, and group life insurance. The document concludes by summarizing popular life insurance products offered by LIC and private insurers in India.
The document discusses the meaning and characteristics of insurance. It outlines some key points:
1. Insurance involves pooling losses from many individuals so average losses can be substituted for actual losses of a few. It provides payment for unexpected, accidental losses.
2. Risk is transferred from the insured to the insurer, who is in a stronger position to pay losses. Indemnification means restoring the insured to their pre-loss position.
3. For a risk to be insurable, losses must be measurable, large numbers must be exposed, losses cannot be catastrophic, and the chance of loss must be calculable so premiums can be affordable.
The document provides an overview of the insurance sector in India. It discusses key topics such as the definition of insurance, major types of insurance policies including life and general insurance, evolution of the insurance sector in India including nationalization in 1956 and liberalization in 1999 with the establishment of IRDAI as the regulatory body. It also summarizes the major players in life and general insurance, their products and leadership, as well as ongoing trends and challenges in the growing Indian insurance market.
Fire insurance protects people from financial losses caused by fires. It involves sharing fire-related losses incurred by some through contributions to a common fund by all who are exposed to fire risk. Fire insurance pays for losses that are unexpected and occur due to chance. It aims to restore the insured's financial position prior to the loss through the principle of indemnity.
1. The document discusses the history and development of the insurance sector in India. It traces insurance in India back to 1818 and discusses key developments like nationalization of insurance in 1956 and privatization in 1999.
2. The roles, types (life, general, health etc.), and major players (both public and private) of insurance are described. It also compares the market share and business of public sector giant LIC versus private insurers.
3. Benefits of insurance planning and investment opportunities in insurance are highlighted. Laws and regulations governing the insurance sector in India are also briefly outlined.
This document discusses types of insurers and marketing systems in the insurance industry. It describes the major types of private insurers, including stock insurers, mutual insurers, Lloyd's of London, and Blue Cross Blue Shield plans. It also discusses agents, brokers, and different marketing distribution systems for selling life and property/casualty insurance, such as independent agencies, exclusive agencies, and direct writers.
Insurance protects individuals and businesses from financial loss by paying compensation for damage to or loss of valuable property and assets. It works by pooling risks among many policyholders, so that the costs of claims made by a few are shared among all. There are important principles that govern insurance, such as insurable interest, utmost good faith, indemnity, contribution, subrogation and average clauses.
The document discusses various types of insurance and risk management strategies. It provides information on auto, health, property, life and disability insurance. It also covers insurance terminology like premiums, deductibles, and factors that influence policy costs. Additionally, the document discusses estate planning tools like wills, trusts, and powers of attorney to transfer assets and minimize taxes after death.
Introduction to risk management and insuranceVipul Kumar
This document provides an introduction and overview of risk management concepts. It defines key terms like risk, peril, and hazard, explaining that risk refers to the possibility of loss, peril is the cause of loss, and hazard increases the possibility of loss. It also distinguishes between pure risk, which only involves the possibility of loss or no loss, and speculative risk, which involves the possibility of both gain and loss. The document discusses different types of pure risks like personal risks, property risks, and liability risks. It also covers the risk management process and various ways of managing risk.
Get helpful insights on types of insurance policy like life insurance, child insurance, investment plans, ulip plans, pension and others. For more information visit - www.aegonreligare.com
This document discusses the relationship between risk and return in investments. It defines total risk as the sum of systematic and unsystematic risk. Systematic risk stems from external market factors that affect all investments, while unsystematic risk is specific to a particular company. The expected return and risk of individual stocks varies, with higher risk investments generally offering higher returns. A portfolio combines multiple assets to reduce overall risk through diversification. The portfolio risk depends on the covariance and correlation between the individual assets' returns. Diversifying across assets with low correlation is an effective way to reduce risk.
Types of insurance By SHAMSIKADALUR MBAshamsikadalur
This document provides an overview of the many different types of insurance that exist. It discusses categories such as life insurance, health insurance, property insurance, auto insurance, and home insurance. Within these categories, it further outlines specific types of insurance like term life, whole life, dental, disability, fire, flood, earthquake, and more. It also explains what types of risks or losses each insurance is intended to cover.
This document provides an overview of marine insurance and key concepts related to business risk management. It defines marine insurance as a contract where the insurer agrees to indemnify the insured for losses from marine adventures. Some key points covered include the meaning and purpose of marine insurance policies, principles like utmost good faith and insurable interest, types of policies and clauses, insured perils and exclusions, losses like total/partial/average losses, and warranties. The document also compares the different levels of coverage under the Institute Cargo Clauses A, B and C.
,
marine insurance
,
types of marine insurance policy
,
features of marine ins. contract
,
marine perils
,
general average loss vs particular average loss
,
differences bet. the marine and fire ins
The document discusses the history and development of insurance in India. It provides definitions of insurance and describes different types of insurance like life, health, automobile, fire insurance. It summarizes the key players in the insurance sector including LIC, private insurers, and the regulatory body IRDA. It also outlines the products offered by LIC and investment policies of insurance companies.
Insurance products 2 ( General Insurance)Rohit Kumar
General Insurance refers to non-life insurance that covers risks other than death, such as home, auto, commercial risks. It is also called property and casualty insurance. General insurance policies are formed through an offer and acceptance process, where the insured pays a premium in exchange for the insurer's promise to provide indemnity. Common types of general insurance include health, liability, motor, marine, and property insurance. Health insurance covers medical costs, while liability insurance covers legal responsibilities. Motor insurance covers car risks, and marine insurance covers shipments. Property insurance protects homes and possessions.
This document discusses various topics related to insurance in the Philippines, including life insurance, non-life insurance, investment of insurance funds, the Insurance Commission as the regulatory body, key provisions of the Insurance Code of the Philippines, and the organizational structure and functions of the Insurance Commission. The summaries provide an overview of the high-level information covered.
In this power Point Presentation i will discuss about the Risk and Different types of Risk. when a Investor invest in a security than what type of Risk he have from the Security.
The Capital Market Line (CML) and Security Market Line (SML) are both half-lines that connect the risk-free asset to the market portfolio. The CML is defined in terms of expected return and total risk, while the SML is defined using expected return and systematic risk. Efficient portfolios lie on the CML, offering the highest return for a given level of risk, while all portfolios should lie on the SML according to the Capital Asset Pricing Model equation.
The document provides an overview of life insurance products in India. It begins by defining insurance and life insurance, and outlines the key principles of insurance including insurable interest, utmost good faith, and indemnity. It then describes various types of life insurance policies like whole life, term life, endowment plans, annuities, and group life insurance. The document concludes by summarizing popular life insurance products offered by LIC and private insurers in India.
The document discusses the meaning and characteristics of insurance. It outlines some key points:
1. Insurance involves pooling losses from many individuals so average losses can be substituted for actual losses of a few. It provides payment for unexpected, accidental losses.
2. Risk is transferred from the insured to the insurer, who is in a stronger position to pay losses. Indemnification means restoring the insured to their pre-loss position.
3. For a risk to be insurable, losses must be measurable, large numbers must be exposed, losses cannot be catastrophic, and the chance of loss must be calculable so premiums can be affordable.
The document provides an overview of the insurance sector in India. It discusses key topics such as the definition of insurance, major types of insurance policies including life and general insurance, evolution of the insurance sector in India including nationalization in 1956 and liberalization in 1999 with the establishment of IRDAI as the regulatory body. It also summarizes the major players in life and general insurance, their products and leadership, as well as ongoing trends and challenges in the growing Indian insurance market.
Fire insurance protects people from financial losses caused by fires. It involves sharing fire-related losses incurred by some through contributions to a common fund by all who are exposed to fire risk. Fire insurance pays for losses that are unexpected and occur due to chance. It aims to restore the insured's financial position prior to the loss through the principle of indemnity.
1. The document discusses the history and development of the insurance sector in India. It traces insurance in India back to 1818 and discusses key developments like nationalization of insurance in 1956 and privatization in 1999.
2. The roles, types (life, general, health etc.), and major players (both public and private) of insurance are described. It also compares the market share and business of public sector giant LIC versus private insurers.
3. Benefits of insurance planning and investment opportunities in insurance are highlighted. Laws and regulations governing the insurance sector in India are also briefly outlined.
This document discusses types of insurers and marketing systems in the insurance industry. It describes the major types of private insurers, including stock insurers, mutual insurers, Lloyd's of London, and Blue Cross Blue Shield plans. It also discusses agents, brokers, and different marketing distribution systems for selling life and property/casualty insurance, such as independent agencies, exclusive agencies, and direct writers.
This document discusses different types of insurance providers classified as either private insurers or government insurers. Private insurers include stock insurers, mutual insurers, assessment mutual insurers, reciprocal insurers, Lloyd's of London, reinsurers, risk retention groups, fraternal benefit societies, home service insurers, and service insurers like HMOs and PPOs. Government insurers include programs like Social Security, Medicaid, and workers' compensation. It provides details on the characteristics and structures of these different private insurance organizations.
Non-banking financial services include insurance. There are two main types of insurance - life insurance and general insurance. Life insurance provides coverage for death and can include term life, whole life, endowment, and unit-linked plans. General insurance covers property and casualty risks like motor, health, home, and marine insurance. Insurance policies are regulated in India by IRDA and follow principles like utmost good faith, indemnity, and subrogation.
Credit management income and asset protectionJessaJamin
Contact non-profit credit counseling agencies, your state's vocational rehabilitation agency, or the Social Security Administration. They may be able to help you manage your finances, negotiate with creditors, find assistance programs, or receive disability benefits that can help you pay off debt over time.
The insurance industry in India has undergone significant changes since 1938:
- Life insurance was nationalized in 1956 and general insurance was incorporated into four public sector companies in 1972.
- Private sector participation was introduced in 1999 with the passage of the IRDA Act, which led to the entry of several private players.
- Today, the insurance industry is regulated by IRDA and offers various products like term plans, whole life, endowment, and ULIPs provided by public and private insurers. ULIPs faced controversies over high charges but reforms have since increased transparency.
ULIPs are innovative forms of life insurance that provide safety of your insurance cover with wealth enhancement opportunities. For more information visit - www.aegonreligare.com/ulip/ulip.php
In this presentation we will deal with Insurance organizations, their operational structure, insurer’s function and key business terms used in this sector.
To know more about Welingkar School’s Distance Learning Program and courses offered, visit:
http://www.welingkaronline.org/distance-learning/online-mba.html
This document discusses several fundamental legal principles of insurance:
- The principle of indemnity states that the insurer will pay no more than the actual amount of the loss to avoid profiting the insured.
- The principle of insurable interest requires the insured to have a financial stake in the insured item/person.
- The principle of subrogation allows the insurer to recover costs paid from responsible third parties to prevent double recovery.
- The principle of utmost good faith requires honesty between insurer and insured.
It also outlines requirements for a valid insurance contract and characteristics like being aleatory and conditional. The document concludes by covering agents' authority and limitations.
Ch 01 structure of the insurance industryutharanthava
The document discusses the structure of the insurance industry. It covers different types of insurance organizations like proprietary companies, mutual companies, and Lloyd's. It also discusses global perspectives on insurance and different sellers and distributors like direct insurers, brokers, agents, banks, and aggregators. The importance of customers, stakeholders, ethics, company growth through organic growth and mergers/acquisitions is explained. Outsourcing in the insurance industry is also summarized.
Life insurance corporation of India provides wide range of life insurance products its your time to decide which one you want as we all know life is precious protect it by taking right insurance product.
The document is a summer internship project report submitted by Suraj Kumar for their MBA degree. It includes an introduction to insurance, company profile of CARE Health Insurance, and details of the CARE Health Family Optima Plan product. The report contains sections on SWOT analysis, objectives, policy documents, and conclusions from the internship project analyzing the health insurance product.
This document discusses different types of non-depository financial institutions including insurance companies, pension funds, and mutual funds. It provides details on how each works, such as how insurance companies pool risk to make payments affordable, how pension funds invest to ensure funds for retiree pensions, and how mutual funds pool money from investors and are managed by professionals to generate capital gains or income. The document also discusses the first insurance companies in Ethiopia and lists some major modern Ethiopian insurance companies.
The document provides an overview of Life Insurance Corporation of India (LIC), the largest insurance company in India. It discusses LIC's history, objectives, products, subsidiaries, mission, vision, logo/recognitions and various life insurance products offered. Key points include that LIC was established in 1956 and is 100% government owned, has objectives around spreading insurance widely and maximizing savings, and offers various insurance products like term plans, endowment plans, whole life plans, and microinsurance.
Insurance involves spreading risk across many individuals or entities to minimize financial loss. It is a legal contract where one party agrees to pay a fixed amount if a specified uncertain event occurs. Underwriters evaluate risk to determine premium costs. Larger risk pools provide more predictable premiums if average health is similar. Reinsurance shares risk between insurers. Regulations protect policyholders and promote stable insurance markets.
Chapter 22_Insurance Companies and Pension FundsRusman Mukhlis
This document summarizes key topics related to insurance companies and pension funds. It discusses the fundamentals of insurance, types of insurance like life and health insurance, and how insurance companies are organized and regulated. It also covers the different types of pension plans like defined benefit and defined contribution, and how pension plans are regulated in the US by acts like ERISA.
ZKsync airdrop of 3.6 billion ZK tokens is scheduled by ZKsync for next week.pdfSOFTTECHHUB
The world of blockchain and decentralized technologies is about to witness a groundbreaking event. ZKsync, the pioneering Ethereum Layer 2 network, has announced the highly anticipated airdrop of its native token, ZK. This move marks a significant milestone in the protocol's journey, empowering the community to take the reins and shape the future of this revolutionary ecosystem.
Methanex is the world's largest producer and supplier of methanol. We create value through our leadership in the global production, marketing and delivery of methanol to customers. View our latest Investor Presentation for more details.
UnityNet World Environment Day Abraham Project 2024 Press ReleaseLHelferty
June 12, 2024 UnityNet International (#UNI) World Environment Day Abraham Project 2024 Press Release from Markham / Mississauga, Ontario in the, Greater Tkaronto Bioregion, Canada in the North American Great Lakes Watersheds of North America (Turtle Island).
Cleades Robinson, a respected leader in Philadelphia's police force, is known for his diplomatic and tactful approach, fostering a strong community rapport.