General Ins. Intro To Basics
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This document provides an introduction to insurance concepts. It defines insurance as pooling resources from many to pay for losses of the few. The document then discusses the origins of insurance in ancient China and Greece. It outlines several key principles of insurance: utmost good faith between parties, insurable interest which provides financial benefit, indemnity which aims to restore the insured to their prior financial position, proximate cause which determines the direct cause of a loss, and subrogation which allows the insurer to recover costs from responsible third parties. The document concludes by discussing the practice and importance of insurance as part of risk management.
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The document is a project report submitted by Arun S Kaimal for his Bachelor of Management Studies program. It includes a declaration by Kaimal stating that the project was completed as required. It also includes a certificate signed by his project guide and college administrators confirming completion of the project titled "Life Insurance Sector in India". The project provides an overview and analysis of the life insurance sector in India.
A project report on customer perception towards insurance
The document provides an introduction and overview of the insurance industry in India. It discusses the history and evolution of insurance from ancient times to its nationalization in India in the 1950s. It also summarizes the key types of insurance like life and non-life insurance. The insurance industry in India is categorized into public and private sector for both life and non-life insurance. It provides a breakdown of the major players in both life and non-life insurance sectors in India.
Insurance
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.
A project report_on_consumer_perception towards life insurance
The document discusses the history and current state of the insurance industry in India. It provides background on the origins and development of insurance globally and in India, including how the industry transitioned from being privately-owned to nationalized and then liberalized again. It also outlines the key players and segments in the current Indian insurance landscape.
SMU ASSIGNMENTS- MBA-IV-Finance
This document discusses insurance and risk management. It provides explanations of key concepts like subrogation, indemnity, and anti-selection bias. It also discusses the Motor Vehicle Act of 1988 and the types of static and dynamic risks. The document analyzes insurance products offered through bancassurance partnerships of SBI-New India and ICICI Prudential.
Birla sun-life-insurance-product-portfolio-project-report
This document provides a summer training project report on studying the product portfolio of Birla Sun Life Insurance Co. Ltd. It includes an introduction to insurance concepts, the objectives of studying Birla Sun Life's plans, a description of the company's vision, mission and values, an overview of their products including Flexi Plans, Classic Life Premier, Gold Plus II, Supreme Life and Platinum Plus plans, and conclusions and recommendations from the study. Key information on Birla Sun Life's funds is also presented. The document contains acknowledgments and is submitted in partial fulfillment of requirements for a Bachelor's degree in Business Administration.
Mf0009 II
The document discusses key concepts in insurance and risk management. It defines subrogation as the insurer's right to stand in place of the insured after a claim is paid to recover costs from alternative sources. It explains the essentials of the doctrine of subrogation, including that it follows the principle of indemnity and substitutes the insurer for the insured's rights up to the amount paid. It also defines indemnity as compensating the insured to the same financial position pre-loss and explains how the contract of indemnity prevents over-insurance and profit from losses.
Insurance
Insurance is defined both functionally and contractually. Functionally, it is a cooperative device that spreads the loss from a particular risk over many people exposed to that risk. Contractually, it is an agreement where an insurer pays an assured a sum of money in exchange for taking on the risk of a larger payment under specified conditions. The primary functions of insurance are to provide protection from future risks and uncertainties, enable collective risk bearing by pooling premiums from many insured individuals, and evaluate risks to determine premium rates. Secondary functions include preventing losses by incentivizing safety, allowing coverage of larger risks with smaller capital investments, and facilitating industry development and trade.
86_16MBECM5_2020052002345220 (1).pdf
The document provides an introduction to insurance, including its definition, purpose, and key characteristics. It discusses how insurance allows individuals and businesses to protect themselves against significant potential losses by transferring the cost to an insurance company in exchange for premium payments. It also outlines several common types of insurance coverage, such as life insurance, health insurance, property insurance, and liability insurance. Additionally, the document discusses some of the history of insurance in India and provides definitions for important insurance terms.
Insurance
Introduction to Insurance
Meaning of Insurance
Insurance principles
Insurance types
Vehicle Insurance
Travel Insurance
Health Insurance
Home Insurance
PRESENTATION ON “ STUDY OF SALES PROMOTION’’ AND “ANALYSIS OF INSURANCE B...
Meaning of INSURANCE ,Indian Insurance Industry Overview Types of Insurance ,Examples of INSURANCE Company ,How does insurance work?, tax benefits on insurance
Logistic insurance ch2 insurance intro
This document provides an introduction to insurance. It discusses what insurance is, the key parties involved (insurer, insured, beneficiary), and underwriting. It also outlines some of the basic principles of insurance, including insurability, legal requirements like indemnity and insurable interest, and the impacts of insurance like moral hazard and fraud. Finally, it discusses how insurance firms operate businesses through underwriting, investing premiums, and managing claims.
Insurance
The document provides an overview of various topics related to insurance. It discusses the introduction and history of insurance in India. It then explains key concepts like the importance of insurance, terms used, the concept of assurance, reinsurance and various principles of insurance like utmost good faith. The document also discusses major players in the Indian insurance sector like LIC and GIC. It provides details about various types of insurance policies including life, health, fire, marine and vehicle insurance.
Insurance companies
The document discusses the history and operations of Life Insurance Corporation (LIC) and General Insurance Corporation (GIC) in India.
It provides background on LIC, including that it was established in 1956 by merging 245 private insurance companies following nationalization. LIC is India's largest insurance company and is owned by the government. The document also outlines GIC's role in reinsuring policies and consolidating 107 private insurers after nationalization in 1972.
The roles of LIC and GIC include spreading insurance widely, maximizing savings mobilization, conducting business efficiently, and investing policyholder funds prudently and safely.
Similar to General Ins. Intro To Basics (20)
A project report on customer perception towards insurance
A project report on customer perception towards insurance
A project report_on_consumer_perception towards life insurance
A project report_on_consumer_perception towards life insurance
Birla sun-life-insurance-product-portfolio-project-report
Birla sun-life-insurance-product-portfolio-project-report
PRESENTATION ON “ STUDY OF SALES PROMOTION’’ AND “ANALYSIS OF INSURANCE B...
PRESENTATION ON “ STUDY OF SALES PROMOTION’’ AND “ANALYSIS OF INSURANCE B...
General Ins. Intro To Basics
- 1. INDIA INSURANCE FORUM IIF INTRODUCTION TO INSURANCE 1
- 3. PLEASE FEEL FREE TO ASK QUESTIONS AT ANY POINT
- 7. Conclusion3 INDIA INSURANCE FORUM IIF
- 8. 4 INDIA INSURANCE FORUM IIF DEFINITIONS OF INSURANCE: Insurance Is the poOLING of resources from many to pay for the losses OF THE FEW. Insurance is a form of risk management in which the insured transfers the cost of potential loss to another entity in exchange for monetary compensation known as the premium.
- 10. Rhodian merchants, in 916 bc, used to have practices called “bottomry” and “respodentia” for protecting their interests
- 14. IMPORTANCE OF INSURANCE AS PART OF RISK MANAGEMENT13 INDIA INSURANCE FORUM IIF
- 15. Think Big, Think Fast, Think Ahead, Ideas are no one's monopoly. Late Mr. Dhirubhai Ambani THANK YOU. ENSURING YOUR FUTURE 14 INDIA INSURANCE FORUM IIF OUR GOAL – TO BECOME THE INSURER OF CHOICE FOR __________