What is Fire Insurance. A fire insurance policy involves an insurance company agreeing to pay a certain amount equivalent to the estimated loss caused by fire to the insured, within the time specified in the contract
This document provides an overview of fire insurance. It discusses key concepts such as utmost good faith, indemnity, insurable interest, and subrogation. It describes what can be covered by fire insurance including buildings, machinery, goods, and household contents. It also summarizes different types of fire insurance policies such as specific insurance, floating insurance, and standing insurance.
This document provides an overview of fire insurance in India. It discusses how fire is considered both pure and helpful for humans but also dangerous when uncontrolled. It then summarizes the key aspects of fire insurance such as its history in India dating back to London in 1666, the causes of fire risks, definition of fire insurance, features of fire policies, procedures for obtaining a policy, and differences between fire and life or marine insurance.
1) Fire insurance provides coverage for losses due to fire to both commercial and residential properties. It can cover buildings, machinery, equipment, inventory and other property.
2) There are different types of fire insurance policies including specific insurance policies that provide a fixed payout amount, reinstatement policies that cover rebuilding costs, and floating policies that cover inventory stored in multiple locations.
3) To make a claim, the insured needs to provide documents like the insurance policy, loss assessment reports, bills and invoices, and police reports in the case of arson. The insurance company will then pay the claim amount as per the policy terms.
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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 most popular and applicable Asset Insurance policy probably in the world. Cover your belongings against the risk of Fire, Earthquake and other Natural Calamities, Riots, Stikes and Malicious Damage. Get a quick quote by submitting your requirement at https://squareinsurance.in/contact
Motor insurance provides protection against physical damage and liability arising from traffic collisions. It is mandatory in India to insure vehicles before driving them. Insurance protects one's life, money, and liability to third parties by covering expenses in case of an accident. Premiums are decided based on factors like age, driving history, vehicle type, location, etc. Policies can be liability-only or comprehensive. Comprehensive policies provide coverage for damages from various causes while liability covers third party liability. Exclusions include contractual liability, war/nuclear risks, driving under influence. A case study describes an insurance company unjustifiably delaying and rejecting a claim for a stolen car.
The document discusses fire insurance, including:
1. Definitions of fire insurance and what constitutes fire under a policy.
2. Causes of fire such as physical hazards from electricity, welding, and carelessness, and occupational hazards from heating, machinery, and smoking.
3. Who can take out a fire insurance policy, including owners, shops, institutions, hotels, industries, and more.
4. Key aspects of fire insurance policies like the policy document, cover note, sum insured, and proposal form.
5. Properties that can be covered like buildings, machinery, stocks, and other contents.
This document provides an overview of fire insurance. It discusses key concepts such as utmost good faith, indemnity, insurable interest, and subrogation. It describes what can be covered by fire insurance including buildings, machinery, goods, and household contents. It also summarizes different types of fire insurance policies such as specific insurance, floating insurance, and standing insurance.
This document provides an overview of fire insurance in India. It discusses how fire is considered both pure and helpful for humans but also dangerous when uncontrolled. It then summarizes the key aspects of fire insurance such as its history in India dating back to London in 1666, the causes of fire risks, definition of fire insurance, features of fire policies, procedures for obtaining a policy, and differences between fire and life or marine insurance.
1) Fire insurance provides coverage for losses due to fire to both commercial and residential properties. It can cover buildings, machinery, equipment, inventory and other property.
2) There are different types of fire insurance policies including specific insurance policies that provide a fixed payout amount, reinstatement policies that cover rebuilding costs, and floating policies that cover inventory stored in multiple locations.
3) To make a claim, the insured needs to provide documents like the insurance policy, loss assessment reports, bills and invoices, and police reports in the case of arson. The insurance company will then pay the claim amount as per the policy terms.
,
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 most popular and applicable Asset Insurance policy probably in the world. Cover your belongings against the risk of Fire, Earthquake and other Natural Calamities, Riots, Stikes and Malicious Damage. Get a quick quote by submitting your requirement at https://squareinsurance.in/contact
Motor insurance provides protection against physical damage and liability arising from traffic collisions. It is mandatory in India to insure vehicles before driving them. Insurance protects one's life, money, and liability to third parties by covering expenses in case of an accident. Premiums are decided based on factors like age, driving history, vehicle type, location, etc. Policies can be liability-only or comprehensive. Comprehensive policies provide coverage for damages from various causes while liability covers third party liability. Exclusions include contractual liability, war/nuclear risks, driving under influence. A case study describes an insurance company unjustifiably delaying and rejecting a claim for a stolen car.
The document discusses fire insurance, including:
1. Definitions of fire insurance and what constitutes fire under a policy.
2. Causes of fire such as physical hazards from electricity, welding, and carelessness, and occupational hazards from heating, machinery, and smoking.
3. Who can take out a fire insurance policy, including owners, shops, institutions, hotels, industries, and more.
4. Key aspects of fire insurance policies like the policy document, cover note, sum insured, and proposal form.
5. Properties that can be covered like buildings, machinery, stocks, and other contents.
Fire Insurance explained in depth. Who can be Insurer, Rights of Insurer, Types of Fire Insurance Losses Covered, Properties that are covered, etc are explained in detail.
This document outlines 8 key principles of insurance:
1) Insurable interest requires the insured to have a financial stake in the insured property/subject.
2) Uberrima fidei requires utmost good faith, where fraud or misrepresentation can void the contract.
3) Material facts must be disclosed about the insured property/subject.
4) Indemnity provides compensation to return the insured to their pre-loss status, without the potential for profit.
5) Contribution prevents double recovery where multiple insurance applies to the same loss.
6) Subrogation allows the insurer to recover costs from liable third parties.
7) Loss minimization requires the insured take reasonable steps to reduce
Reinsurance involves insurance companies insuring each other's risks. There are two main types of reinsurance - facultative, which applies to individual risks, and treaty, which applies to a company's entire book of business. Reinsurance can be proportional, where the reinsurer takes a share of each policy, or non-proportional, where the reinsurer covers losses over a certain amount. The reinsurance market in India is dominated by GIC, the sole domestic reinsurer, which reinsures a portion of policies with international reinsurers. Some challenges for reinsurers in the Indian market include higher premium rates and a lack of desirable quotes from Indian reinsurers for small deals.
Motor insurance provides protection against risks associated with motor vehicle accidents, such as injuries to others, damage to other vehicles or property, or damage to the insured vehicle itself. It is mandatory in India under the Motor Vehicles Act to purchase a Liability Only policy that covers bodily injury and property damage to third parties. Insurers also offer optional policies that provide additional coverage like compensation for injuries to the owner-driver or damage to the insured vehicle. India has seen rapid growth in both motor vehicles and road accidents in recent decades, making motor insurance an important product for both individuals and the insurance industry.
Fire insurance provides coverage against losses from fire and other specified risks. There must be an actual loss for a claim to be made, and the fire must be accidental. Fire insurance policies are typically valid for one year and involve a written contract between the insurer and insured. The insured can recover the actual amount of loss up to the sum insured, but is not allowed to profit from insurance. Fire insurance provides a protection element but lacks an investment component.
Chapter 01 concepts and principles of insuranceiipmff2
The document defines insurance as a social device where individuals transfer risk to an insurer who pools losses to make statistical predictions and provide payments from premium contributions. Legally, it is a contract where an insurer provides security to an insured against specified events in exchange for a premium proportionate to the risk. Key elements are risk transfer from insured to insurer, insurance as a business to meet costs and make profit, and an insurance contract as a legally enforceable agreement. Fundamental principles include utmost good faith, indemnity, subrogation, contribution, and proximate cause. There are various types of insurance and governing laws regulate the insurance sector in India.
This document provides an overview of fire insurance. It discusses key principles of insurance like utmost good faith, indemnity, and insurable interest. It also describes different types of fire insurance policies like valued policies, floating policies, declaration policies, and adjustable policies. The document outlines the scope of fire insurance and covers losses from fire and other perils. It also discusses the rights of insurers like salvage, subrogation, and contribution. Specific policy and average policy are also summarized.
Public and product liability insurance policies provide insurance cover in respect of insured's liability for loss or damage caused negligently to third parties, who are not the insured, as a result of an occurrence in connection with the insured business.
This document discusses the key principles of insurance. It defines insurance as a form of risk management that involves the equitable transfer of risk from one entity to another in exchange for payment. The main entities in an insurance agreement are the insurer, who sells the insurance, and the insured, who buys the insurance policy. Premiums are the amounts charged for a certain level of insurance coverage. Several acts govern insurance in India. The document also discusses insurable risks, types of insurance, fundamental insurance principles like indemnity and insurable interest, and circumstances under which an insurer must return paid premiums.
General insurance provides coverage for various risks and eventualities to protect assets and health from financial loss. The main types of general insurance discussed in the document are car, health, travel, personal accident, and home insurance. Car insurance is compulsory in India and covers risks like natural disasters, accidents, and third party liability. Health insurance covers expensive medical costs for accidents, illnesses, and surgeries. Travel insurance protects against costs for medical issues, trip delays, lost luggage, and trip cancellations while traveling. Personal accident insurance provides benefits for death, disability, or dismemberment from an accident. Home insurance protects against property damage or loss of possessions from events like fires or natural disasters.
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.
Burglary insurance originated in 1887 at Lloyds in London to cover losses due to theft, robbery, or larceny. It is an important add-on insurance policy for small businesses to protect their livelihoods and property. Burglary insurance covers various classes of theft including residence theft, bank burglary, safe deposit box losses, and interior office and store robbery.
The six principles of insurance are: 1) Utmost good faith, which requires full disclosure between the applicant and insurer; 2) Insurable interest, which requires the insured to have a stake in the insured property or subject; 3) Indemnity, which provides compensation up to but not exceeding the actual loss amount; 4) Proximate cause, which determines liability based on the original or primary cause of loss; 5) Subrogation, which allows the insurer to recover losses from responsible third parties; and 6) Contribution, which requires multiple insurers to share liability when more than one policy covers a loss. These principles represent the legal guidelines for insurance contracts and claims handling.
The document provides an overview of how insurance works. It explains that insurance involves individuals pooling funds through premium payments to cover losses experienced by a few. When many individuals face the same risks, insurance allows for losses to be shared across the community in a manageable way for all. Premiums collected are invested, and surpluses are used to pay future claims or returned to policyholders. Examples illustrate how insurance protects against risks of fire or death by having many share the costs of losses affecting a few.
Hi guys! I have uploaded the power point presentation for Principles of Insurance, If any one has queries in regards to this topic, you can comment below,
Thanks!
Sanmeet.
Insurance is a contract where an insurer agrees to compensate a policyholder in the event of a specified loss or liability in exchange for premium payments. Key principles of insurance include utmost good faith, indemnity, and insurable interest. There are various types of insurance like life, fire, marine, personal accident, health, and property insurance which are governed by the general principles of contract law and aim to socialize risk while protecting policyholders from financial losses.
This document provides an overview of the many different types of insurance. It lists and describes several major categories of insurance including life insurance, home insurance, property insurance, auto insurance, and health insurance. Within each category, it outlines specific types of insurance such as term life, whole life, and annuities for life insurance or fire, flood, and earthquake insurance for property insurance. The document serves as an exhaustive reference for the various risks that can be insured against.
This document discusses different types of fire insurance policies. It explains that a fire insurance policy involves an insurance company agreeing to pay for losses caused by fire. It then summarizes different types of property that can be insured, such as buildings, machinery, goods in factories, and household contents. The document also outlines the claims process and types of documentation required to file a claim. It describes valued policies, reinstatement policies, floating policies, and specific policies - providing examples of when each type would be suitable. Finally, it discusses some advantages fire insurance provides to both businesses and homeowners.
Fire Insurance explained in depth. Who can be Insurer, Rights of Insurer, Types of Fire Insurance Losses Covered, Properties that are covered, etc are explained in detail.
This document outlines 8 key principles of insurance:
1) Insurable interest requires the insured to have a financial stake in the insured property/subject.
2) Uberrima fidei requires utmost good faith, where fraud or misrepresentation can void the contract.
3) Material facts must be disclosed about the insured property/subject.
4) Indemnity provides compensation to return the insured to their pre-loss status, without the potential for profit.
5) Contribution prevents double recovery where multiple insurance applies to the same loss.
6) Subrogation allows the insurer to recover costs from liable third parties.
7) Loss minimization requires the insured take reasonable steps to reduce
Reinsurance involves insurance companies insuring each other's risks. There are two main types of reinsurance - facultative, which applies to individual risks, and treaty, which applies to a company's entire book of business. Reinsurance can be proportional, where the reinsurer takes a share of each policy, or non-proportional, where the reinsurer covers losses over a certain amount. The reinsurance market in India is dominated by GIC, the sole domestic reinsurer, which reinsures a portion of policies with international reinsurers. Some challenges for reinsurers in the Indian market include higher premium rates and a lack of desirable quotes from Indian reinsurers for small deals.
Motor insurance provides protection against risks associated with motor vehicle accidents, such as injuries to others, damage to other vehicles or property, or damage to the insured vehicle itself. It is mandatory in India under the Motor Vehicles Act to purchase a Liability Only policy that covers bodily injury and property damage to third parties. Insurers also offer optional policies that provide additional coverage like compensation for injuries to the owner-driver or damage to the insured vehicle. India has seen rapid growth in both motor vehicles and road accidents in recent decades, making motor insurance an important product for both individuals and the insurance industry.
Fire insurance provides coverage against losses from fire and other specified risks. There must be an actual loss for a claim to be made, and the fire must be accidental. Fire insurance policies are typically valid for one year and involve a written contract between the insurer and insured. The insured can recover the actual amount of loss up to the sum insured, but is not allowed to profit from insurance. Fire insurance provides a protection element but lacks an investment component.
Chapter 01 concepts and principles of insuranceiipmff2
The document defines insurance as a social device where individuals transfer risk to an insurer who pools losses to make statistical predictions and provide payments from premium contributions. Legally, it is a contract where an insurer provides security to an insured against specified events in exchange for a premium proportionate to the risk. Key elements are risk transfer from insured to insurer, insurance as a business to meet costs and make profit, and an insurance contract as a legally enforceable agreement. Fundamental principles include utmost good faith, indemnity, subrogation, contribution, and proximate cause. There are various types of insurance and governing laws regulate the insurance sector in India.
This document provides an overview of fire insurance. It discusses key principles of insurance like utmost good faith, indemnity, and insurable interest. It also describes different types of fire insurance policies like valued policies, floating policies, declaration policies, and adjustable policies. The document outlines the scope of fire insurance and covers losses from fire and other perils. It also discusses the rights of insurers like salvage, subrogation, and contribution. Specific policy and average policy are also summarized.
Public and product liability insurance policies provide insurance cover in respect of insured's liability for loss or damage caused negligently to third parties, who are not the insured, as a result of an occurrence in connection with the insured business.
This document discusses the key principles of insurance. It defines insurance as a form of risk management that involves the equitable transfer of risk from one entity to another in exchange for payment. The main entities in an insurance agreement are the insurer, who sells the insurance, and the insured, who buys the insurance policy. Premiums are the amounts charged for a certain level of insurance coverage. Several acts govern insurance in India. The document also discusses insurable risks, types of insurance, fundamental insurance principles like indemnity and insurable interest, and circumstances under which an insurer must return paid premiums.
General insurance provides coverage for various risks and eventualities to protect assets and health from financial loss. The main types of general insurance discussed in the document are car, health, travel, personal accident, and home insurance. Car insurance is compulsory in India and covers risks like natural disasters, accidents, and third party liability. Health insurance covers expensive medical costs for accidents, illnesses, and surgeries. Travel insurance protects against costs for medical issues, trip delays, lost luggage, and trip cancellations while traveling. Personal accident insurance provides benefits for death, disability, or dismemberment from an accident. Home insurance protects against property damage or loss of possessions from events like fires or natural disasters.
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.
Burglary insurance originated in 1887 at Lloyds in London to cover losses due to theft, robbery, or larceny. It is an important add-on insurance policy for small businesses to protect their livelihoods and property. Burglary insurance covers various classes of theft including residence theft, bank burglary, safe deposit box losses, and interior office and store robbery.
The six principles of insurance are: 1) Utmost good faith, which requires full disclosure between the applicant and insurer; 2) Insurable interest, which requires the insured to have a stake in the insured property or subject; 3) Indemnity, which provides compensation up to but not exceeding the actual loss amount; 4) Proximate cause, which determines liability based on the original or primary cause of loss; 5) Subrogation, which allows the insurer to recover losses from responsible third parties; and 6) Contribution, which requires multiple insurers to share liability when more than one policy covers a loss. These principles represent the legal guidelines for insurance contracts and claims handling.
The document provides an overview of how insurance works. It explains that insurance involves individuals pooling funds through premium payments to cover losses experienced by a few. When many individuals face the same risks, insurance allows for losses to be shared across the community in a manageable way for all. Premiums collected are invested, and surpluses are used to pay future claims or returned to policyholders. Examples illustrate how insurance protects against risks of fire or death by having many share the costs of losses affecting a few.
Hi guys! I have uploaded the power point presentation for Principles of Insurance, If any one has queries in regards to this topic, you can comment below,
Thanks!
Sanmeet.
Insurance is a contract where an insurer agrees to compensate a policyholder in the event of a specified loss or liability in exchange for premium payments. Key principles of insurance include utmost good faith, indemnity, and insurable interest. There are various types of insurance like life, fire, marine, personal accident, health, and property insurance which are governed by the general principles of contract law and aim to socialize risk while protecting policyholders from financial losses.
This document provides an overview of the many different types of insurance. It lists and describes several major categories of insurance including life insurance, home insurance, property insurance, auto insurance, and health insurance. Within each category, it outlines specific types of insurance such as term life, whole life, and annuities for life insurance or fire, flood, and earthquake insurance for property insurance. The document serves as an exhaustive reference for the various risks that can be insured against.
This document discusses different types of fire insurance policies. It explains that a fire insurance policy involves an insurance company agreeing to pay for losses caused by fire. It then summarizes different types of property that can be insured, such as buildings, machinery, goods in factories, and household contents. The document also outlines the claims process and types of documentation required to file a claim. It describes valued policies, reinstatement policies, floating policies, and specific policies - providing examples of when each type would be suitable. Finally, it discusses some advantages fire insurance provides to both businesses and homeowners.
1) Bibhash Roy is seeking fire insurance for closing stock estimated at 71,000 under an insurance policy.
2) The document outlines the types of property that can be insured against fire loss, the causes of fire loss covered, documentation required to submit a claim, and types of fire insurance policies.
3) It provides a sample claim calculation showing estimated stock loss of 58,000 and a claim amount of 32,676 based on policy limits.
- Insurance is a means of protection from financial loss by hedging against the risk of uncertain losses. An insurance company or insurer provides insurance policies to individuals or entities known as insureds. If an insured experiences a loss covered by their policy, they can file a claim with the insurer.
- Theft insurance policies in India cover losses due to theft of personal or business property. They provide compensation for stolen items and damage to premises during theft. Coverage, premiums, and claim processes vary between policies and insurers. Theft insurance protects against financial losses from theft but excludes some high-value items or losses caused by certain people or events.
Allianz Hogar is a multi-risk insurance policy designed to provide protection against a wide range of risks related to your home and against the liabilities arising therefrom and from the people living therein.
This document provides information about hurricane insurance. It begins with definitions of hurricanes and categories of hurricane strength. It then discusses mitigation strategies to reduce hurricane damage, including protecting homes from wind and flood. The document reviews insurance coverage for hurricanes, including that flood insurance is separate. It provides tips for determining adequate insurance coverage and filing a claim after hurricane damage. Key details covered include insurance policy types, coverage options, and deductibles. Examples of destructive past hurricanes are also given.
This PPT explains about the basic accounting concepts of fire insurance claim with help of some numerical examples.it help the reader to understand the concepts in simplified manner.
It is only created for educational purpose.
1. Mr. Ankit took earthquake add-on cover in his Standard Fire and Special Perils Policy for his restaurant in Srinagar, J&K. This proved useful when an earthquake caused minor damages like breaking of the boundary wall and damage to interior materials.
2. The add-on covers Mr. Ankit had taken were earthquake cover and covers for debris removal and damage to interior materials.
3. Donna's cyber cafe suffered water damage from a storm. Her Standard Fire and Special Perils Policy included an earthquake add-on cover, allowing her insurance company to approve her claim for replacing damaged flooring based on her statement alone.
The document provides information about flood insurance policies in the United States. It discusses that the National Flood Insurance Program (NFIP) offers flood insurance and covers over 50 insurance companies. It describes the two types of coverage offered - building and contents. It also summarizes the different policy types for homeowners, business owners, and renters and what is covered under each. The document concludes by discussing how premiums are determined and the purchasing process.
Home insurance protects a homeowner's property and possessions inside the home from risks like fire, theft, natural disasters and more. It is an essential investment that provides financial protection for one of the largest assets people own - their home. Comprehensive home insurance policies can also cover valuable contents, jewelry, and artwork inside the home. Additional add-on covers are available for risks like loss of rent and pet insurance.
Towergate Insurance is one of the UK's largest insurance brokers. They provide customized insurance solutions and a dedicated personal service to their private clients. Their experts help clients select the appropriate insurance coverage for their individual needs, which can include high-value items like art collections, jewelry, and listed properties. They offer products like private client household insurance, high-value motor insurance, travel insurance, and marine insurance to fully protect their private clients.
Christchurch Four Years On - Harrison Associates - Stu Harrison -Sum Insured EQCfix New Zealand
Stewart Harrison from Harrison Associates in Christchurch spoke to a large crowd at the Christchurch Cathedral on the 23rd February 2015 in relation to earthquake issues and insuring homes moving forward..
This document provides information about fire insurance in Bangladesh. It discusses the essential elements of a fire insurance contract, classifications of fire insurance and fire risk, types of insurance like material loss insurance and consequential loss insurance. It also outlines steps that can be taken to prevent fire hazards and moral hazards. Additionally, it discusses the extent of loss from fire in Bangladesh from 1999-2020, including financial losses, deaths, injuries, and homelessness. Some problems faced by fire insurance in Bangladesh are also presented, such as poor knowledge, illiteracy, religious superstitions, and lack of awareness, continuity, and funds. Finally, management strategies for these problems are mentioned.
This document provides an overview of insurance, including how it works, the roles of actuaries and risk pooling. It discusses that people seek security against economic risks like losses from accidents or natural disasters. Insurance provides a way to pool risks among many policyholders so that the costs of unlikely but expensive losses can be paid out of regular premiums. Actuaries use statistical analysis to set fair premiums and ensure the insurance company has sufficient assets to cover expected claims. The document also outlines several common types of insurance products and provides a brief history of the development of the insurance industry in India.
Consequential loss policy in relation with fire insuranceANMOL GULATI
This document discusses consequential loss insurance policies. It begins by explaining that standard insurance policies only cover direct physical damage, not financial losses from business interruptions. A consequential loss policy covers losses like reduced profits during periods where business operations are interrupted due to insured events like fire. The document defines key terms like indemnity period and gross profits. It also outlines what types of losses are covered, how claims are calculated, advantages and disadvantages of these policies. Major insurance companies offering consequential loss policies in India are also listed.
Non-life or general insurance provides coverage for risks other than human life. It includes various types of insurance like health, property, liability, marine, fire, motor, and credit insurance. Health insurance covers medical expenses while property insurance protects insured property from risks like fire, theft, and natural disasters. Liability insurance protects against claims by third parties for damages. Marine insurance covers risks for ships, cargo and freight. [END SUMMARY]
The Presentation on Engineering Insurance help us knowing more about the different types of Insurance Policies for various types of engineering projects as there are different types of product available under engineering insurance and referring this presentation will let you know about engineering insurance.
This document outlines key concepts and terms related to insurance. It defines risk management and explains the purpose of insurance is to transfer risk from the insured to the insurer. The main parties to an insurance contract are the insurer, who accepts the risk of loss in exchange for a premium, the insured, who is protected by the policy, and the policy itself, which is the contract. There are several types of insurance discussed, including life, property, health, automobile, and others. The document provides details on concepts like insurable interest, deductibles, and coinsurance. It also explains various types of policies and coverages in more depth.
Dan Tetzlaff from Hub International Insurance share his expert opinion and speaks on the most common pitfalls when insuring your property and a robust program on how to avoid them.
The document provides an overview of quantitative analysis. It discusses that quantitative analysis is the systematic study of an organization's structure, characteristics, functions, and relationships to provide executives with a quantitative basis for decision making. The characteristics of quantitative analysis include a focus on decision making, applying a scientific approach, using an interdisciplinary team, and applying formal mathematical models. The quantitative analysis process involves defining the problem, developing a model, acquiring data, developing a solution, testing the solution, and validating the model. Common tools used in quantitative analysis include linear programming, statistical techniques, decision tables, decision trees, game theory, forecasting, and mathematical programming.
This document outlines five methods for managing conflict: accommodation, compromise, avoidance, competition, and collaboration. Accommodation is a lose/win approach where one party forfeits their position. Compromise is a win/lose-win/lose approach where all parties gain and lose through negotiation. Avoidance is a lose/lose approach where issues remain unresolved. Competition is a win/lose approach where one party attempts to dominate. Collaboration is a win/win approach that requires trust and understanding between all parties. Each approach is best suited to different conflict situations.
This document summarizes 10 key human capital trends from 2017 to 2020 according to annual surveys. The trends include the changing nature of careers, learning, talent acquisition, employee experience, performance management, leadership, digital HR, people analytics, diversity and inclusion, and the future of work involving new technologies. Organizations are shifting from hierarchies to empowered networks and teams and redesigning jobs to leverage both human and technological capabilities. Learning is becoming more continuous, personalized and integrated with work. Well-being, the hyper-connected workplace, data privacy, and social impact are also emerging as important issues.
Define conflict and conflict behavior in organizations
Distinguish between functional and dysfunctional conflict
Understand different levels and types of conflict in organizations
Analyze conflict episodes and the linkages among them
Explain why conflict arises, and identify the types and sources of conflict in organizations.
Describe conflict management strategies that managers can use to resolve conflict effectively.
Understand the nature of negotiation and why integrative bargaining is more effective than distributive negotiation.
,managing conflict ,politics ,and negotiation
This document discusses conflict management in an organizational context. It begins by defining conflict and outlining learning objectives around understanding conflict, dealing with typical conflicts that arise, and developing skills to resolve conflicts. It then presents a case study about the performance of three typists, Anabia, Sonia and Tania, and asks the reader to evaluate their performance. Additional details provided about each typist may affect the reader's evaluation. The document goes on to discuss causes of conflicts, effects of conflicts in organizations, different approaches to dealing with conflicts, and steps that can be taken to prevent and resolve conflicts. It concludes by noting that while conflict is inevitable and not entirely negative, poorly managed conflicts can have counterproductive results while well-managed
Differences between legal compliances and managing diversityJubayer Alam Shoikat
The document provides guidelines for developing an organizational code of ethics or code of conduct. It outlines several key components that should be addressed in a code, including personal integrity, compliance with laws, political contributions, confidential information, conflicts of interest, financial records, employment policies, securities transactions, use of company assets, gifts and entertainment, environmental issues, and compliance/enforcement. It stresses that codes are most effective when communicated, modeled by leadership, and enforced with accountability.
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capital budgeting
,
concept of capital budgeting
,
the capital budgeting process
,
significance of capital budgeting
,
classification of investment project proposals
,
techniques of capital budgeting
,
types of project
The document discusses database management systems (DBMS) and cybercrime. It defines a DBMS as software that enables the use of databases and provides methods for creating, updating, storing and retrieving data. The main components of a DBMS are software, hardware, data, procedures and database access languages like SQL. Cybercrime is defined as illegal activities involving computers, like hacking, phishing and spamming. Hackers may break into networks for recreational or financial reasons. Common online spying tools used by cybercriminals include cookies, spyware, web bugs and spam to track users and acquire personal information without consent.
basic organization of computer
,
input unit
,
output unit
,
storage unit
,
arithmetic logic unit (alu)
,
computer codes
,
computer for organization
,
business communication
,
payroll system
,
management information system
This document discusses different number systems including non-positional, positional, decimal, binary, octal, and hexadecimal systems. It provides examples of how to convert numbers between these bases using direct conversion methods or shortcuts. Key aspects covered include how the position and base of each digit determines its value in a number, converting a number to decimal and then to another base, and dividing binary, octal, or hexadecimal numbers into groups to convert to a different base number system.
operating system
,
os
,
what is an os?
,
types of os
,
logical architecture of a computer system
,
basic task perform by os
,
task switching
,
utility software
,
main functions of an os
This document provides an overview of data communications and computer networks. It discusses the basic elements of a communication system including senders, receivers, and transmission media. It then describes different types of transmission media such as twisted pair wire, coaxial cable, microwave systems, and optical fibers. The document also covers digital and analog data transmission, network topologies including star, ring, bus and hybrid networks. It defines local and wide area networks and describes some common networking devices like network interface cards.
The document discusses the five generations of computers from the 1940s to present. It provides details on the key hardware technologies, software technologies, and characteristics of each generation. The first generation used vacuum tubes and were very large, unreliable, and costly. The second generation introduced transistors, magnetic storage, and batch operating systems. The third generation saw the rise of integrated circuits, timesharing operating systems, and standard programming languages. The fourth generation brought microprocessors, PCs, networks, and GUIs. The fifth generation includes powerful desktops, notebooks, servers, supercomputers, and technologies like the internet, multimedia, and Java.
International Business basic concept of international business
,
approaches to international business/ modes of ent
,
barriers to international business
,
absolute advantage and comparative advantage
The document provides information about the accounting cycle for Taposhi Corporation Ltd, including a trial balance, additional information, a 10-column worksheet, income statement, statement of owner's equity, and classified balance sheet. The worksheet adjusts account balances based on additional information and carries forward balances to the financial statements. The income statement shows net income of 20,500 Taka. The statement of owner's equity shows an increase in capital from opening to closing balance. The balance sheet presents assets, liabilities, and owner's equity as of December 31.
This document summarizes a study on the annual reports of Grameenphone over 10 years. It includes an analysis of gross profit and net profit from 2006 to 2015 showing increases over time. Charts in the form of histograms and polygons visualize these trends. Key findings note that Grameenphone is the largest telecom provider in Bangladesh with over 56 million subscribers and extensive network coverage. The network provides mobile, internet, and other digital services across the country.
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Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
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2. What is Fire Insurance
A fire insurance policy involves an insurance company agreeing to pay a certain amount
equivalent to the estimated loss caused by fire to the insured, within the time specified in the
contract
3. Objective Covered Under Fire Insurance
Building
2) Electrical installation in buildings
3) Machinery, Plant and equipment
4) Goods ( raw materials, stocks in process, semi finished, finished etc ) in
factories
5) Godowns, Goods in open
6) Contents in dwellings (Household)
7) Shops, Hotels etc.
8) Furniture, fixture and fittings, pipelines located inside or outside the
compound etc.
4. Objective Not Covered Under Fire Insurance
1. Loss Due to fire cause by
• Earthquake
• Attach of foreign enemy
• Civil strife (war)
• Mutiny (Pub. Vs Govt.)
• Military rising
2. Loss caused by subterranean(Underground) fire
3. Loss caused by burning of property by order of any public authority
5. Following Document Are Required For
Fire claim
• Copy of the policy
• Survey report
• Claim form duly completed by the insured
• Police report (for riot claims) / Panchanama (fire loss)
• Fire brigade report
• Meteorological report (in case of flood, cyclone etc. claims)
• Photographs
• Detailed claim bill with necessary bills / voucher
• Copy of enquiry committee report on cause of loss if
enquiry is ordered by insured.
6. PRINCIPLES OF INSURANCE
• Utmost Good Faith
Insured must disclosed all relevant fact to the insurer
• Indemnity
Underwriter agree to indemnity the insured against losses to the extent of
amount insured
• Insurable interest
The insurable interest must exist both at the time of effecting the insurance
as well as at the time of the loss
• Subrogation
The insurer after paying compensation to insured , become entitled to claim
all the right of the insured against Third party
• Causa Proxima
Losses resulting from fire , margin or some other related cause, being the
proximate cause of losses are covered
7. Valued Policy
• It is usually taken where it is not easy to ascertain the value of the
property.
• In this policy the indemnity is a fixed amount agreed upon at the time of
signing the contract.
• The insured is benefited when the market value of the property declines ,
but suffer loss when the market value appreciates.
• The valued insurance policy is usually offered for such items like jewellery,
furs, or paintings, which value is difficult to estimate once they are
damaged or destroyed by fire.
8. Floating Policy
• It is taken to cover loss on goods, which are lying in different places and the
stock of which is almost continuously fluctuating.
• It is taken out for those goods which are frequently changing in a warehouse.
• Floating policies are suitable to those traders or products whose raw-materials or
merchandise are lying at different localities or godowns.
• For example:-Some of the goods of other trader are kept in one godown, and few
kept in another godown, some kept in the railway godown or some at the sea
port open.
9. Specific Policy
• A specific policy is a type of policy in which the property is insured for a specific
sum irrespective of its value.
• If there is loss, the stated amount will have to be paid to the policyholder.
• The actual value of the subject matter is not considered in this respect.
• For example: If a property is insured for taka 10000 though its actual value is taka
20000. In the event of loss to property, not more than taka 10000 can be
recovered.
10. Average Policy
• Where a property is insured for a sum which is less than its value, the policy contain
a clause that the insurer shall not be liable to pay the full loss but only that
proportion of the loss which the amount insured for, bears to the full value of the
property.
• For example: A value of the property is taka 1,00,000. It is insured for taka 60,000
(60% of the total value) The amount of loss is taka 60,000.The insurance company
will not pay taka 60,000 to the policyholder but will pay taka 36,000 (60% of taka
60,000).
11. Advantage Of Fire Insurance
• Fire insurance provides advantages to the enterprise in the following ways
• Loss of life
• Machines security
• Medical expenses
• Fire insurance provides the advantages for the homeowner in these ways
• Property security
• Any damage recovery
• Electronic part security