The document provides an overview of the Irish insurance market, including the key participants and lines of business. It discusses the main types of insurance buyers and products in Ireland, the different types of insurers and how they are regulated, distribution channels, reinsurers, the private health insurance market, and industry/professional bodies. Motor and property insurance make up the largest non-life insurance classes. There are approximately 27,000 people employed in the insurance sector in Ireland. The key regulatory body is the Central Bank and insurers must be authorized to operate.
Major trends in insurance in Bangladesh 2013 - 2017Shagufta Rahman
The document discusses various topics related to the insurance sector in Bangladesh, including:
1) Informal sector workers will be brought under insurance policies to provide financial assistance to accident victims like mechanic workers.
2) Janata Insurance was fined for delaying an insurance payout to a crockery store that burned down in 2012.
3) Most insurers saw an increase in profits by addressing issues like excess commission payments to sales agents and changes in the economic and political situations.
4) The first ever mobile apps for insurance were launched in Bangladesh to allow clients to easily communicate and are available online.
A PROJECT REPORT ON
STUDY OF CYBER INSURANCE WITH REFERENCE APEX INSURANCE BROOKING SERVICES
IN PARTIAL FULFILLMENT OF THE AWARD OF THE DEGREE OF BACHELOR OF MANAGEMENT STUDIES
The document provides an overview of the insurance industry in India. It discusses the history and development of the insurance sector in India, including the establishment of regulatory bodies like the Insurance Regulatory and Development Authority (IRDA). It also outlines the major types of insurance available in India, key players in the life and non-life insurance sectors, as well as growth factors and challenges facing the industry. The insurance sector is poised for further growth given India's large population and increasing incomes.
The document provides an overview of how insurance companies work. It discusses key terms like insurer, insured, and premium. It explains that insurance companies collect premiums from customers, invest those funds, and use the money to pay claims when insured events occur. The document also outlines some common types of insurance like life, health, property, and car insurance. It discusses factors that determine insurance rates and gives examples of career paths within an insurance company.
General insurance companies provide financial protection against losses from events like fire, floods or theft. They earn income from premiums paid by policyholders and investment returns. Premiums cover costs like claims payments, expenses and dividends. Investment returns depend on market conditions and vary yearly. Reliance General Insurance offers over 80 insurance products across categories like personal accident, fire, marine, motor, health and travel. It aims to make insurance accessible through branches across India and online services. The company follows quality standards and received ISO 9001:2000 certification.
This document is a dissertation submitted by Ajay Paranzpe to D.Y. Patil University in partial fulfillment of the requirements for a Master's degree in Business Administration. The dissertation examines customer perception towards life insurance policies. It includes chapters on the history and development of life insurance, profiles of life insurance organizations, analysis and interpretation of research findings, and conclusions and recommendations. The dissertation utilizes questionnaires and surveys to understand how consumers select, organize, and interpret the service and product quality of different life insurance policies offered by various companies.
This document discusses risk mitigation and wealth creation through various insurance products and tools. It outlines different types of risks individuals face in their lives and how insurance products like life, health, accident, property, and liability insurance can help mitigate these risks. It also explains how life insurance products like endowment plans and pension plans as well as investment tools like mutual funds can help create wealth over the long run. The document provides details on various insurance options available for risk mitigation and wealth creation.
Major trends in insurance in Bangladesh 2013 - 2017Shagufta Rahman
The document discusses various topics related to the insurance sector in Bangladesh, including:
1) Informal sector workers will be brought under insurance policies to provide financial assistance to accident victims like mechanic workers.
2) Janata Insurance was fined for delaying an insurance payout to a crockery store that burned down in 2012.
3) Most insurers saw an increase in profits by addressing issues like excess commission payments to sales agents and changes in the economic and political situations.
4) The first ever mobile apps for insurance were launched in Bangladesh to allow clients to easily communicate and are available online.
A PROJECT REPORT ON
STUDY OF CYBER INSURANCE WITH REFERENCE APEX INSURANCE BROOKING SERVICES
IN PARTIAL FULFILLMENT OF THE AWARD OF THE DEGREE OF BACHELOR OF MANAGEMENT STUDIES
The document provides an overview of the insurance industry in India. It discusses the history and development of the insurance sector in India, including the establishment of regulatory bodies like the Insurance Regulatory and Development Authority (IRDA). It also outlines the major types of insurance available in India, key players in the life and non-life insurance sectors, as well as growth factors and challenges facing the industry. The insurance sector is poised for further growth given India's large population and increasing incomes.
The document provides an overview of how insurance companies work. It discusses key terms like insurer, insured, and premium. It explains that insurance companies collect premiums from customers, invest those funds, and use the money to pay claims when insured events occur. The document also outlines some common types of insurance like life, health, property, and car insurance. It discusses factors that determine insurance rates and gives examples of career paths within an insurance company.
General insurance companies provide financial protection against losses from events like fire, floods or theft. They earn income from premiums paid by policyholders and investment returns. Premiums cover costs like claims payments, expenses and dividends. Investment returns depend on market conditions and vary yearly. Reliance General Insurance offers over 80 insurance products across categories like personal accident, fire, marine, motor, health and travel. It aims to make insurance accessible through branches across India and online services. The company follows quality standards and received ISO 9001:2000 certification.
This document is a dissertation submitted by Ajay Paranzpe to D.Y. Patil University in partial fulfillment of the requirements for a Master's degree in Business Administration. The dissertation examines customer perception towards life insurance policies. It includes chapters on the history and development of life insurance, profiles of life insurance organizations, analysis and interpretation of research findings, and conclusions and recommendations. The dissertation utilizes questionnaires and surveys to understand how consumers select, organize, and interpret the service and product quality of different life insurance policies offered by various companies.
This document discusses risk mitigation and wealth creation through various insurance products and tools. It outlines different types of risks individuals face in their lives and how insurance products like life, health, accident, property, and liability insurance can help mitigate these risks. It also explains how life insurance products like endowment plans and pension plans as well as investment tools like mutual funds can help create wealth over the long run. The document provides details on various insurance options available for risk mitigation and wealth creation.
Bajaj allianz general insurance group 6Prakhar Jain
Bajaj Allianz is a joint venture between Bajaj Finserv and Allianz SE formed in 2001. It is one of the largest general insurance companies in India, offering a wide range of insurance products across motor, health, travel, home and commercial segments to individuals and businesses. The company leverages the financial strength of its parents and has received iAAA ratings for its strong financial position in the industry. It aims to be the preferred insurer and employer in the sector through its customer-focused approach.
Bajaj allianz general insurance for InsuranceMohit Gandhi
Bajaj Allianz is a joint venture between Bajaj Finserv and Allianz SE formed in 2001. It is one of the largest general insurance companies in India, offering a wide range of insurance products across motor, health, travel, home and commercial segments to both individual and corporate customers. Bajaj Allianz draws its strengths from the global exposure of Allianz and the financial strength of Bajaj Finserv. It aims to be the number one insurer in India by understanding customer needs and offering affordable and valuable insurance solutions.
Insurance is a contract between two parties where one party (the insured) undertakes a risk and the other party (the insurer) promises to compensate the insured if a specified uncertain event occurs. There are two parties to an insurance contract - the agent or insured, and the insurer who takes out the policy. General insurance provides coverage for property, health, accidents, legal liabilities, and more. It is offered by general insurance companies to protect individuals, businesses, and their assets and legal liabilities. The General Insurance Corporation of India (GIC) was formed as a public sector company to control and operate general insurance in India.
Introduction to Life Insurance-II by Dr. Amitabh MishraAmitabh Mishra
This document discusses the key parties, documents, and obligations in a life insurance contract. It explains that the two parties are the insured and insurer. The insured is the person covered by the policy, while the insurer assumes the risk of loss. Important documents include the proposal form, proof of identity and income, medical reports, policy documents, death certificates, and claim forms. The duties of the insured include truthful disclosure, paying premiums on time, and notifying changes. The insurer's main duty is providing coverage according to the contract terms.
This document summarizes Indian laws around motor vehicle insurance claims from 2005-2012. It outlines that the Fatal Accidents Act of 1885 first established legal rights for accident victims and heirs to claim compensation. The Motor Vehicles Act of 1988 then made the laws more effective by mandating third-party insurance and establishing Motor Accident Claims Tribunals to handle cases. The Act specifies unlimited liability for insurance companies but allows limited defenses around issues like unlicensed driving or non-disclosure of key facts to void a policy.
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.
Indian Insurance Industry - Recent Industry Trends - Part - 5Resurgent India
Bancassurance means selling insurance product through banks. Banks and insurance company come up in a partnership wherein the bank sells the tied insurance company's insurance products to its clients. Globally, bancassurance has emerged as an important channel for distribution of insurance products. Various international studies have shown that a bancassurance strategy has indeed saved costs of insurance companies in the long run.
Solvency ii Association
http://www.solvency-ii-association.com
We are pleased to announce our updated Distance Learning and Online Certification programs:
1. Certified Solvency ii Professional (CSiiP) Distance Learning and Online Certification Program
http://www.solvency-ii-association.com/CSiiP_Distance_Learning_Online_Certification_Program.htm
2. Certified Solvency ii Equivalence Professional (CSiiEP) Distance Learning and Online Certification Program
http://www.solvency-ii-association.com/CSiiEP_Distance_Learning_Online_Certification_Program.htm
Register to receive Solvency II / Omnibus II related alerts, opportunities, updates, our monthly newsletter and limited time offers for our Solvency II / Omnibus II Training and Certification programs:
http://forms.aweber.com/form/28/1910009328.htm
A project report_on_consumer_perception towards life insuranceSANJAYBT
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.
Joe Beashel and Louise Dobbyn examine the Irish market outlook, the implementation of Mifid II in Ireland, the key trading areas most impacted by MiFid II and more in the Irish chapter of Mifid II Report 2017.
Chambers Global Practice Guide to Insurance and Reinsurance 2019 in IrelandMatheson Law Firm
Matheson Insurance Partners Sharon Daly, Darren Maher and April McClements co-author the 2019 guide to Insurance and Reinsurance in Ireland, as published by the Chambers Global Practice Guides
The document provides an overview of insurance concepts including the meaning and principles of insurance, the origin and development of insurance, the opening of the Indian insurance sector, and the roles of regulatory bodies like IRDA. It discusses types of insurance like health, life and general insurance as well as companies in the Indian market like LIC and GIC. The objectives are to understand key insurance terms, regulations, and the industry landscape in India.
The document outlines the key components and organizations that make up the insurance industry and market in Malaysia. It discusses the roles of various departments within insurance companies and how they may be organized. It also lists and describes several important institutions related to both the general insurance market and life assurance market, including their objectives and functions.
Financial Institutions Partner, Joe Beashel and Financial Institutions Senior Associate, Louise Dobbyn co-author the Ireland chapter of the Mifid II Implementation Report 2018.
This document discusses insurance, including its definition, principles, regulation, and trends. It defines insurance as a legal contract where one party agrees to pay a fixed amount if a specified uncertain event occurs, in exchange for regular premium payments. It outlines principles like insurable interest and indemnity. It also describes the historical development and current structure of the Indian insurance industry, including the nationalization of life and general insurance. Emerging trends in 2015 that will impact insurers are identified as the increased use of big data analysis, mobile technologies, advanced underwriting using new data sources, and cloud computing.
This document discusses the insurance industry and its components in Malaysia. It describes the key roles and functions of insurance agents, brokers, and various departments within insurance companies, including underwriting, claims, marketing, and actuarial. It also outlines some of the major organizations that regulate and represent different segments of the insurance sector in Malaysia, such as PIAM for general insurers, LIAM for life insurers, and MTA for takaful operators.
This document provides a summary of insurance options for small business owners. It discusses the Business Owner's Policy (BOP), which combines property and liability coverage into one package. The BOP covers buildings, equipment, inventory, and liability for injuries on the business premises or from products. It also describes required auto and worker's compensation coverage in Wisconsin as well as optional policies for health insurance, flood insurance, and umbrella liability insurance that provides additional protection. The document aims to help small business owners understand their insurance needs.
Insurance is a contract where an individual or entity receives financial protection from losses in exchange for paying premiums. Companies pool risks to make premiums affordable. There are two main types of insurance - life insurance which pays out a sum when a person dies, and non-life insurance which covers other losses or liabilities. Within these are various products like health, property, vehicle and travel insurance. Regulations ensure customer protection and industry growth.
Insurance companies play an important role in society by compensating policyholders for specified events in exchange for premiums. There are two main types of insurance companies: life insurers which provide protection for death, illness, and retirement, and property-casualty insurers which protect against accidents and liability. Both types of insurers pool risks, invest premiums, and must balance premium income with payouts to remain profitable. Strict regulation at the state level oversees insurance company operations and solvency.
Insurance companies play an important role in society by compensating policyholders for specified events in exchange for premiums. There are two main types of insurance companies: life insurers which provide protection for death, illness, and retirement, and property-casualty insurers which protect against accidents and liability. Both types pool risks, invest premiums, and must balance premium income with payouts to remain profitable. Strict regulation by states aims to ensure solvency and protect policyholders.
This document provides an overview of different types of insurance. It discusses key terms like insurer, insured, and subjects matter. It also outlines different types of insurance like life insurance, general/non-life insurance, health insurance, fire insurance, marine insurance, motor/accident insurance, and liability insurance. For each type, it summarizes what risks are covered and provides examples of common policies. It also lists major players in the life and general insurance industry in India and provides some key statistics about the growth and size of the insurance market.
Bajaj allianz general insurance group 6Prakhar Jain
Bajaj Allianz is a joint venture between Bajaj Finserv and Allianz SE formed in 2001. It is one of the largest general insurance companies in India, offering a wide range of insurance products across motor, health, travel, home and commercial segments to individuals and businesses. The company leverages the financial strength of its parents and has received iAAA ratings for its strong financial position in the industry. It aims to be the preferred insurer and employer in the sector through its customer-focused approach.
Bajaj allianz general insurance for InsuranceMohit Gandhi
Bajaj Allianz is a joint venture between Bajaj Finserv and Allianz SE formed in 2001. It is one of the largest general insurance companies in India, offering a wide range of insurance products across motor, health, travel, home and commercial segments to both individual and corporate customers. Bajaj Allianz draws its strengths from the global exposure of Allianz and the financial strength of Bajaj Finserv. It aims to be the number one insurer in India by understanding customer needs and offering affordable and valuable insurance solutions.
Insurance is a contract between two parties where one party (the insured) undertakes a risk and the other party (the insurer) promises to compensate the insured if a specified uncertain event occurs. There are two parties to an insurance contract - the agent or insured, and the insurer who takes out the policy. General insurance provides coverage for property, health, accidents, legal liabilities, and more. It is offered by general insurance companies to protect individuals, businesses, and their assets and legal liabilities. The General Insurance Corporation of India (GIC) was formed as a public sector company to control and operate general insurance in India.
Introduction to Life Insurance-II by Dr. Amitabh MishraAmitabh Mishra
This document discusses the key parties, documents, and obligations in a life insurance contract. It explains that the two parties are the insured and insurer. The insured is the person covered by the policy, while the insurer assumes the risk of loss. Important documents include the proposal form, proof of identity and income, medical reports, policy documents, death certificates, and claim forms. The duties of the insured include truthful disclosure, paying premiums on time, and notifying changes. The insurer's main duty is providing coverage according to the contract terms.
This document summarizes Indian laws around motor vehicle insurance claims from 2005-2012. It outlines that the Fatal Accidents Act of 1885 first established legal rights for accident victims and heirs to claim compensation. The Motor Vehicles Act of 1988 then made the laws more effective by mandating third-party insurance and establishing Motor Accident Claims Tribunals to handle cases. The Act specifies unlimited liability for insurance companies but allows limited defenses around issues like unlicensed driving or non-disclosure of key facts to void a policy.
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.
Indian Insurance Industry - Recent Industry Trends - Part - 5Resurgent India
Bancassurance means selling insurance product through banks. Banks and insurance company come up in a partnership wherein the bank sells the tied insurance company's insurance products to its clients. Globally, bancassurance has emerged as an important channel for distribution of insurance products. Various international studies have shown that a bancassurance strategy has indeed saved costs of insurance companies in the long run.
Solvency ii Association
http://www.solvency-ii-association.com
We are pleased to announce our updated Distance Learning and Online Certification programs:
1. Certified Solvency ii Professional (CSiiP) Distance Learning and Online Certification Program
http://www.solvency-ii-association.com/CSiiP_Distance_Learning_Online_Certification_Program.htm
2. Certified Solvency ii Equivalence Professional (CSiiEP) Distance Learning and Online Certification Program
http://www.solvency-ii-association.com/CSiiEP_Distance_Learning_Online_Certification_Program.htm
Register to receive Solvency II / Omnibus II related alerts, opportunities, updates, our monthly newsletter and limited time offers for our Solvency II / Omnibus II Training and Certification programs:
http://forms.aweber.com/form/28/1910009328.htm
A project report_on_consumer_perception towards life insuranceSANJAYBT
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.
Joe Beashel and Louise Dobbyn examine the Irish market outlook, the implementation of Mifid II in Ireland, the key trading areas most impacted by MiFid II and more in the Irish chapter of Mifid II Report 2017.
Chambers Global Practice Guide to Insurance and Reinsurance 2019 in IrelandMatheson Law Firm
Matheson Insurance Partners Sharon Daly, Darren Maher and April McClements co-author the 2019 guide to Insurance and Reinsurance in Ireland, as published by the Chambers Global Practice Guides
The document provides an overview of insurance concepts including the meaning and principles of insurance, the origin and development of insurance, the opening of the Indian insurance sector, and the roles of regulatory bodies like IRDA. It discusses types of insurance like health, life and general insurance as well as companies in the Indian market like LIC and GIC. The objectives are to understand key insurance terms, regulations, and the industry landscape in India.
The document outlines the key components and organizations that make up the insurance industry and market in Malaysia. It discusses the roles of various departments within insurance companies and how they may be organized. It also lists and describes several important institutions related to both the general insurance market and life assurance market, including their objectives and functions.
Financial Institutions Partner, Joe Beashel and Financial Institutions Senior Associate, Louise Dobbyn co-author the Ireland chapter of the Mifid II Implementation Report 2018.
This document discusses insurance, including its definition, principles, regulation, and trends. It defines insurance as a legal contract where one party agrees to pay a fixed amount if a specified uncertain event occurs, in exchange for regular premium payments. It outlines principles like insurable interest and indemnity. It also describes the historical development and current structure of the Indian insurance industry, including the nationalization of life and general insurance. Emerging trends in 2015 that will impact insurers are identified as the increased use of big data analysis, mobile technologies, advanced underwriting using new data sources, and cloud computing.
This document discusses the insurance industry and its components in Malaysia. It describes the key roles and functions of insurance agents, brokers, and various departments within insurance companies, including underwriting, claims, marketing, and actuarial. It also outlines some of the major organizations that regulate and represent different segments of the insurance sector in Malaysia, such as PIAM for general insurers, LIAM for life insurers, and MTA for takaful operators.
This document provides a summary of insurance options for small business owners. It discusses the Business Owner's Policy (BOP), which combines property and liability coverage into one package. The BOP covers buildings, equipment, inventory, and liability for injuries on the business premises or from products. It also describes required auto and worker's compensation coverage in Wisconsin as well as optional policies for health insurance, flood insurance, and umbrella liability insurance that provides additional protection. The document aims to help small business owners understand their insurance needs.
Insurance is a contract where an individual or entity receives financial protection from losses in exchange for paying premiums. Companies pool risks to make premiums affordable. There are two main types of insurance - life insurance which pays out a sum when a person dies, and non-life insurance which covers other losses or liabilities. Within these are various products like health, property, vehicle and travel insurance. Regulations ensure customer protection and industry growth.
Insurance companies play an important role in society by compensating policyholders for specified events in exchange for premiums. There are two main types of insurance companies: life insurers which provide protection for death, illness, and retirement, and property-casualty insurers which protect against accidents and liability. Both types of insurers pool risks, invest premiums, and must balance premium income with payouts to remain profitable. Strict regulation at the state level oversees insurance company operations and solvency.
Insurance companies play an important role in society by compensating policyholders for specified events in exchange for premiums. There are two main types of insurance companies: life insurers which provide protection for death, illness, and retirement, and property-casualty insurers which protect against accidents and liability. Both types pool risks, invest premiums, and must balance premium income with payouts to remain profitable. Strict regulation by states aims to ensure solvency and protect policyholders.
This document provides an overview of different types of insurance. It discusses key terms like insurer, insured, and subjects matter. It also outlines different types of insurance like life insurance, general/non-life insurance, health insurance, fire insurance, marine insurance, motor/accident insurance, and liability insurance. For each type, it summarizes what risks are covered and provides examples of common policies. It also lists major players in the life and general insurance industry in India and provides some key statistics about the growth and size of the insurance market.
The document provides an overview of various types of general insurance products and loans available in India. It discusses different non-life insurance policies including two-wheeler insurance, car insurance, home insurance, travel insurance, commercial vehicle insurance, pet insurance, and others. It also summarizes personal loans, business loans, home loans, gold loans, and other financing options in India. The document aims to educate participants about insurance penetration in India and various opportunities in insurance and lending markets.
The document provides an overview of insurance companies and the insurance industry in India. It discusses the history and evolution of insurance, including the nationalization of life and general insurance. It describes the functions of insurance companies in providing protection and risk management. It also outlines the different types of insurance like life insurance, general insurance, and reinsurance. Key entities discussed are LIC, GIC and their subsidiaries, objectives, and the various insurance plans and policies offered.
Insurance is a form of risk management used to hedge against uncertain losses by spreading risk among many. In India, the first life insurance company started in 1818 and the Insurance Act of 1938 first regulated the industry. The industry was nationalized in 1956 with the formation of LIC. Common insurance services include fire, marine, and other policies. Marketing involves product mixes, pricing based on risk, sales through agents and digital means, and promotions using various media. Emerging services include online payments, call centers, partnerships with banks, and customer relationship management.
This document discusses the recruitment of advisors and sales of financial products through advisors in the life insurance industry in India. It provides background on the history and development of the life insurance sector in India. It describes how advisors, also known as agents, are critical to the distribution and sales process, as they are the primary channel through which insurance companies can explain policies and benefits to customers. The success of insurance companies depends on having an adequate network of agents to capture market share.
The document provides an analysis of the financial statements of Universal Insurance from 2010-2014. It includes information on the company's vision, mission, services, audit reports, shareholding patterns, balance sheets, and ratio analyses. The balance sheets show that associated companies have major control of Universal Insurance, while the general public has the second largest stake. The audit reports are all unqualified, indicating the financial statements comply with standards.
Insurance is a promise of compensation for potential future losses in exchange for periodic payments. It protects against financial risks from unexpected or contingent losses. Insurers make money through underwriting risks and collecting premiums, which they invest. When claims are made, adjusters work to settle claims according to the terms of policies. Globally, insurance premiums totaled $4.3 trillion in 2008, with Europe as the largest market. The insurance industry has expanded globally but also faces criticism as sometimes engaging in rent-seeking behaviors.
The document discusses private equity insurance policies that JLT offers. These policies provide comprehensive liability coverage and protection from various risks private equity companies face, including lawsuits from investors, shareholders of portfolio companies, and allegations such as misrepresentation, breach of duties, or negligent decisions. JLT has over £100m in private equity insurance capacity available through Lloyd's and London insurance markets. Their policies offer advantages like automatic new fund coverage, outside director liability protection, and comprehensive crime insurance. To obtain a quote, clients submit an application with details about their business.
Insurance sector in India:challenges and opportunitiessumanjeetkaurgill
1) The document discusses the insurance sector in India, including its history and evolution from the 19th century to present day.
2) It covers the major players like LIC, GIC, and IRDA, and types of insurance policies including life, health, fire, and motor insurance.
3) The current insurance landscape in India is growing rapidly but there remains significant potential for further expansion, as over 75% of the population still lacks insurance coverage.
1) ISVAP has issued regulations to enhance transparency and consumer protection in the life insurance market. This includes Circular 551 which requires standardized summaries, comparisons of proposals, and rules for professional conduct.
2) Circular 551 introduced summary profiles to help consumers compare life insurance proposals and understand risks. It also mandates disclosure of policy information during the term of the contract.
3) The new Insurance Code of 2005 consolidated insurance regulations and transposed the EU Insurance Mediation Directive, requiring intermediaries to assess customer needs and provide advice.
Takaful insurance is an Islamic insurance model that operates based on mutual assistance and joint guarantee between members. Premiums paid by policyholders are considered donations into a pool that is used to safeguard members against losses. Any profits generated are shared among members rather than used to generate profits. Takaful aims to avoid elements like interest, gambling, and uncertainty that are prohibited in Islamic law. It provides various policy types like general accident, medical, and family coverage through cooperative and mutual assistance between members.
- Insurance companies provide insurance policies to policyholders in exchange for premium payments. The policies are legally binding contracts where the insurance company agrees to pay specified sums if future events occur, such as death or an accident.
- Insurance companies accept the risk from policyholders in exchange for premiums. They determine which applications to accept and how much to charge through underwriting. Premiums provide stable revenue while payments to policyholders are the major expense.
- There are various types of insurance like life, health, property & casualty, liability, and investment-oriented products. Insurance companies combine these types of insurance in different ways and are regulated at the state level in the US.
This document provides an overview of insurance in India, including the main types of insurance policies, how insurance works, and its importance. It discusses life, health, car, education, home, and general insurance policies. It explains elements of an insurance contract, how insurance protects against uncertainties, and how the insurance sector contributes to economic growth by providing stability and savings opportunities. Insurance allows individuals and businesses to protect themselves from financial losses from various risks through a system where premiums from many are used to compensate the few who suffer losses.
Role of Insurance , types of Insurance and HLVshobha
Meaning of insurance; Role of insurance as a risk mitigant, Introduction to various types of risks, Concept of insurable risks from an investor’s perspective, Various insurance products available–Life and Non Life, Concept of Human Life Value (HLV) and methods of computing HLVs.
The manager of YES BANK Ltd is requested to issue an identity card to a new employee of an agency for collection activities. The request letter provides details of the employee such as name, father's name, date of birth, address, contact information, and documents submitted for verification including resume, reference check, photographs, police verification, education certificates, identity and address proofs, DRA certificate, code of conduct, and non-disclosure agreement. The agency declares that necessary background checks were conducted and the employee is trained and qualified to represent the bank.
This document provides instructions for using various functions within the CAPS system. It describes how to access the system, login, and navigate to different modules. Key functions covered include downloading debtors reports, viewing customer details and account information in OneView, uploading account allocations and call trails, recording and managing receipts, creating and verifying payment batches, and printing deposit memos.
Grape farming tips discusses climate, soils, nutrition, and disease management for grape crops in India. The best soils for grapes are well-drained loamy to sandy-loam soils rich in organic matter, while poorly drained alkaline soils should be avoided. Grape crops require application of organic manure and proper fertilization at different growth stages. Common grape diseases like powdery mildew, anthracnose, and downy mildew can be managed through fungicide sprays like wettable sulfur, Bordeaux mixture, and copper fungicides.
Pomegranate farming thrives in semiarid climates with mild winters and hot summers, temperatures between 25-35°C, and annual rainfall of 500–800 mm. The crops grow best in medium deep, loamy, well-drained soils around pH 7.5, and require regular irrigation from flowering through harvesting to prevent dropping flowers and cracked fruits, using around 650 mm of water per hectare annually under drip irrigation. Fruits are graded before cold storage up to 2 months at 0°C or 10 weeks at 5°C, or longer storage at 10°C and 95% humidity to minimize chilling injury and weight loss.
Antibiotic resistance occurs when bacteria evolve and become resistant to antibiotics through overuse and misuse of antibiotics. When antibiotics are prescribed unnecessarily or not taken as directed, it can allow bacteria to survive and spread antibiotic resistance. To prevent further antibiotic resistance, antibiotics should only be taken as prescribed by a doctor, all of the prescribed antibiotics should be taken, and leftover antibiotics should not be used or shared with others.
This document outlines the standard operating procedure for complaint management. It details a 6 step process for handling customer complaints received from various channels. The steps include: 1) Receipt of complaints and acknowledgement, 2) Communication to agencies to stop follow-ups, 3) Addressing complaints by liaising with stakeholders, 4) Conducting root cause analyses and corrective actions, 5) Maintaining a complaints tracker, and 6) Reworking processes to reduce errors. The centralized complaints management team is responsible for executing the steps within tentative timelines.
This document outlines guidelines for processing powers of attorney (POA) or letters of authority (LOA) for collection team members at YBL. It details a 5-step process: 1) Mail a requisition to the collection head for issuance of a POA including the team member's name, role, and location. 2) Dispatch the authorized POA to the collection personnel and retain a copy. 3) On termination, the original POA is returned. 4) If lost, an indemnity bond is executed. 5) POA distribution is tracked monthly. Guidelines specify the collection head designates who holds a POA and requisitions must include the team member's identifying information.
This document outlines the standard operating procedure for settling retail and rural retail banking products serviced by the Retail Asset Collections team. It details a 6 step process: 1) The collection partner requests settlement in writing from the customer; 2) The settlement authorization team validates the request and recommends approval or decline; 3) Approved requests are sent to the appropriate approving authority; 4) An approved settlement letter is issued to the customer; 5) The customer acknowledges and pays the settlement amount; 6) The loan is closed upon receipt of payment. Special provisions are noted for obtaining consent decrees from courts for settled cases and certifying compliance with RBI guidelines.
This internal document outlines the billing and payment process for agency yards in 11 steps, noting that timelines may vary depending on case-specific factors. Any deviations from the standard process require approval from relevant heads, including the Ops Head for payment issues and Collection Head for exceptions to the payout grid or unspecified deviations. Key details like timelines, dependencies, and approval authorities are provided to broadly define billing procedures and exceptions handling.
This document outlines the billing and payment process for successfully collected and lodged NACH mandate forms. It details 4 steps: 1) The collection central team prepares a list of cases where the NACH form was picked up and lodged successfully by the 5th of each month. 2) This list is shared with the payout team for payment processing by the 5th of each month. 3) The payout team processes payments for pickup and lodgement using a grid that provides Rs. 250 for successful pickup and Rs. 250 for successful lodgement. 4) For cases allocated for both NACH collection/lodgement and payment collection, payment cleared through NACH that month should not be considered for strategic payout,
This two-page internal document provides guidelines for processing legal expenses, including professional fees and court fees. It specifies that bills for professional fees must include loan account details and the nature of legal action. Bills are to be accompanied by payment request memos approved according to authority levels. Court fee memos need to specify case details and amounts recoverable. All legal expense documents require sign-off per approval protocols and are forwarded to the accounts department along with expense claim vouchers for payment.
The document outlines the standard operating procedure for handling missed payments and calculating agency payouts. It details a 3-step process: 1) line teams report missed payments by the 3rd of the month and process team updates payments by the 5th, 2) process team prepares an exception file with new buckets by the 7th, and 3) billing team considers the exception file and excludes resolution amounts from subsequent month payout calculations.
This document provides a standard operating procedure for agency billing. It outlines a 10 step process for billing and paying outsourced vendors. Key steps include collection and payment files being shared with the payout team, payment amounts being separated and computed according to an approved grid, computations being validated by collection teams, invoices being sent to accounting for processing, and payments being issued electronically or via check and distributed. Exceptions and approvals from heads are required in cases of discrepancies.
This two-page internal document provides the standard operating procedure for loan against security (LAS) sale and redemption processes and timelines. It outlines seven key steps: 1) Collections initiates sale with appropriate approval; 2) Generating reports of non-executed sales; 3) Approval as per matrix; 4) Informing clients of declined cases; 5) Raising settlement letters for approved cases; 6) SL shares settlement details and collects payment; 7) Closing queries upon full payment receipt. Timelines are provided but may vary depending on case complexity, volume, and approvals.
SOP Auction Sale Policy for loan against goldQWDeveloper
This document outlines the guidelines and process for possession and auction of assets used as collateral for loans against gold. It defines the following high-level steps:
1. Auction shall be initiated for loans that are 80+ days past due at designated branches.
2. After auction approval from the Chief Hub, the Recovery team shall arrange for valuers on the auction date and notify stakeholders.
3. Gold packets will be opened and resealed at the branch in front of witnesses under CCTV surveillance. Valuers will value the gold and provide bids including applicable taxes.
SOP offline auctions, offline bids, private treaties for movable assetsQWDeveloper
This document outlines the standard operating procedure for conducting offline auctions, bids, and private treaties for movable assets. It details a 14-step process for disposal of assets after possession. Key steps include obtaining floor price approval, generating offline bids, conducting auction/bidding, obtaining necessary approvals, accepting payment, releasing assets, updating records, and sending required notices. Deviations from the process may be allowed in certain cases with proper approvals. Guidelines specify empaneling auction vendors if used, providing minimum 3 days for asset inspection, and only issuing delivery orders after full payment clearance.
This internal document outlines the standard operating procedure for possession of movable retail assets. It details the approval processes, documentation requirements, and guidelines for various possession-related activities including:
1. Printing and storage of repo kits by the Process Management Team.
2. Obtaining approval for repossession and allocating cases to agencies.
3. Tracing assets, verifying registration details, and issuing notice letters.
4. Conducting repossession, inventorying assets, and transporting them to storage yards.
5. Valuing assets, issuing notices, handling sales and releases.
The document provides timelines for each step and notes exceptions that require additional approvals. Compliance with the procedure
it describes the bony anatomy including the femoral head , acetabulum, labrum . also discusses the capsule , ligaments . muscle that act on the hip joint and the range of motion are outlined. factors affecting hip joint stability and weight transmission through the joint are summarized.
How to Fix the Import Error in the Odoo 17Celine George
An import error occurs when a program fails to import a module or library, disrupting its execution. In languages like Python, this issue arises when the specified module cannot be found or accessed, hindering the program's functionality. Resolving import errors is crucial for maintaining smooth software operation and uninterrupted development processes.
Walmart Business+ and Spark Good for Nonprofits.pdfTechSoup
"Learn about all the ways Walmart supports nonprofit organizations.
You will hear from Liz Willett, the Head of Nonprofits, and hear about what Walmart is doing to help nonprofits, including Walmart Business and Spark Good. Walmart Business+ is a new offer for nonprofits that offers discounts and also streamlines nonprofits order and expense tracking, saving time and money.
The webinar may also give some examples on how nonprofits can best leverage Walmart Business+.
The event will cover the following::
Walmart Business + (https://business.walmart.com/plus) is a new shopping experience for nonprofits, schools, and local business customers that connects an exclusive online shopping experience to stores. Benefits include free delivery and shipping, a 'Spend Analytics” feature, special discounts, deals and tax-exempt shopping.
Special TechSoup offer for a free 180 days membership, and up to $150 in discounts on eligible orders.
Spark Good (walmart.com/sparkgood) is a charitable platform that enables nonprofits to receive donations directly from customers and associates.
Answers about how you can do more with Walmart!"
How to Add Chatter in the odoo 17 ERP ModuleCeline George
In Odoo, the chatter is like a chat tool that helps you work together on records. You can leave notes and track things, making it easier to talk with your team and partners. Inside chatter, all communication history, activity, and changes will be displayed.
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...Dr. Vinod Kumar Kanvaria
Exploiting Artificial Intelligence for Empowering Researchers and Faculty,
International FDP on Fundamentals of Research in Social Sciences
at Integral University, Lucknow, 06.06.2024
By Dr. Vinod Kumar Kanvaria
Main Java[All of the Base Concepts}.docxadhitya5119
This is part 1 of my Java Learning Journey. This Contains Custom methods, classes, constructors, packages, multithreading , try- catch block, finally block and more.
How to Make a Field Mandatory in Odoo 17Celine George
In Odoo, making a field required can be done through both Python code and XML views. When you set the required attribute to True in Python code, it makes the field required across all views where it's used. Conversely, when you set the required attribute in XML views, it makes the field required only in the context of that particular view.
Chapter wise All Notes of First year Basic Civil Engineering.pptxDenish Jangid
Chapter wise All Notes of First year Basic Civil Engineering
Syllabus
Chapter-1
Introduction to objective, scope and outcome the subject
Chapter 2
Introduction: Scope and Specialization of Civil Engineering, Role of civil Engineer in Society, Impact of infrastructural development on economy of country.
Chapter 3
Surveying: Object Principles & Types of Surveying; Site Plans, Plans & Maps; Scales & Unit of different Measurements.
Linear Measurements: Instruments used. Linear Measurement by Tape, Ranging out Survey Lines and overcoming Obstructions; Measurements on sloping ground; Tape corrections, conventional symbols. Angular Measurements: Instruments used; Introduction to Compass Surveying, Bearings and Longitude & Latitude of a Line, Introduction to total station.
Levelling: Instrument used Object of levelling, Methods of levelling in brief, and Contour maps.
Chapter 4
Buildings: Selection of site for Buildings, Layout of Building Plan, Types of buildings, Plinth area, carpet area, floor space index, Introduction to building byelaws, concept of sun light & ventilation. Components of Buildings & their functions, Basic concept of R.C.C., Introduction to types of foundation
Chapter 5
Transportation: Introduction to Transportation Engineering; Traffic and Road Safety: Types and Characteristics of Various Modes of Transportation; Various Road Traffic Signs, Causes of Accidents and Road Safety Measures.
Chapter 6
Environmental Engineering: Environmental Pollution, Environmental Acts and Regulations, Functional Concepts of Ecology, Basics of Species, Biodiversity, Ecosystem, Hydrological Cycle; Chemical Cycles: Carbon, Nitrogen & Phosphorus; Energy Flow in Ecosystems.
Water Pollution: Water Quality standards, Introduction to Treatment & Disposal of Waste Water. Reuse and Saving of Water, Rain Water Harvesting. Solid Waste Management: Classification of Solid Waste, Collection, Transportation and Disposal of Solid. Recycling of Solid Waste: Energy Recovery, Sanitary Landfill, On-Site Sanitation. Air & Noise Pollution: Primary and Secondary air pollutants, Harmful effects of Air Pollution, Control of Air Pollution. . Noise Pollution Harmful Effects of noise pollution, control of noise pollution, Global warming & Climate Change, Ozone depletion, Greenhouse effect
Text Books:
1. Palancharmy, Basic Civil Engineering, McGraw Hill publishers.
2. Satheesh Gopi, Basic Civil Engineering, Pearson Publishers.
3. Ketki Rangwala Dalal, Essentials of Civil Engineering, Charotar Publishing House.
4. BCP, Surveying volume 1
Leveraging Generative AI to Drive Nonprofit InnovationTechSoup
In this webinar, participants learned how to utilize Generative AI to streamline operations and elevate member engagement. Amazon Web Service experts provided a customer specific use cases and dived into low/no-code tools that are quick and easy to deploy through Amazon Web Service (AWS.)
2. CHAPTER ONE: THE IRISH INSURANCE
MARKET – WHERE YOU WORK
A The Irish insurance market
The insurance market involves four main groups:
• Insurance buyers – those who purchase
insurance products and services, i.e. customers
• Insurance providers – those who sell or provide
insurance, e.g. insurers and the State
• Distribution channels – the means through
which customers purchase insurance from insurers
• Reinsurers – those who provide insurance for
insurers, i.e. other insurance companies or specialist
reinsurance companies.
A1a Premium income
Motor insurance is the largest type of non-life insurance
making up 43% of all non-life business (€1,113 million in
gross premiums in 2013). Property is the second-largest
class making up 33% of all non-life business (€838
million in gross premiums) in 2013 with net written
premiums of €2,149 million.
A1b Claims
During 2013, 441,214 new claims were notified to
Insurance Ireland members. Of these, 53% were motor
claims, while 23% were made on property policies.
Claims costs for that year amounted to €1,693 million.
A1c Employment
According to PwC’s 2014 report, approximately 27,000
people were employed in the insurance sector in Ireland.
Fourteen thousand were employed directly by insurance
companies and an additional 13,000 were employed
by companies directly related to the industry such as
insurance broking, loss adjusting, loss assessing, actuarial
consultancy, risk management, captive management and
outsource services providers.
This means that in 2014, 1 in every 4 working in financial
services in Ireland was employed directly or indirectly by
the insurance industry.
B Insurance buyers
These can be divided into four main groups:
1. private individuals
2. commercial concerns
3. public bodies
4. associations and clubs.
B1 Private individuals
The main types of non-life insurance cover purchased
in Ireland by individuals are motor, household buildings
and contents, private health, travel, gadget, mobile phone,
caravan and pet insurance.
B2 Commercial concerns
A broad category that can include a large multinational
corporations, self-employed sole traders, partnerships
and charitable organisations.
B3 Public bodies
Public bodies include local authorities and schools. Public
bodies may also purchase specific cover for specialised
classes of risk, such as professional indemnity insurance
relating to negligent professional advice or medical
malpractice.
B4 Associations and clubs
Associations and clubs can come together in affinity
groups (e.g. the Irish Farmers Association or trade unions)
and approach insurance companies to provide group
discounts / scheme arrangements for their members.
1
3. C Insurers
Any company selling insurance in Ireland must be
authorised by the Central Bank and must meet the
conditions in the Insurance Acts and Regulations
1909–2000.
Different types of Insurers are:
1. specialist insurance companies
2. composite insurance companies
3. captive insurance companies
The State, although not an ‘insurer’ in the usual sense
of the word, also provides insurance for itself and other
bodies and organisations in certain circumstances.
C1 Specialist insurance companies
Specialist insurers must be authorised by the Central
Bank to sell specific types of insurance, e.g. DAS – for
legal protection insurance and breakdown assistance
cover.
C2 Composite insurance companies
Most insurers in the Irish general insurance market
are composite insurers. The range of business they
accept usually includes:
• accident and health
• motor vehicle
• marine, aviation and transit
• fire and other damage
• liability
• credit.
C3 Captive insurance companies
These companies are usually formed by very large and
usually only insure the risks of that particular organisation.
Captives are formed for cost effective and tax efficient
purposes & may be managed in-house or by larger
brokers with international customers (e.g. AON and
Willis) who can provide captive management services.
Many captive companies operate from the International
Financial Services Centre (IFSC) in Dublin or similar
operations in the Channel Islands, Bermuda and the
Isle of Man – all territories that provide a favourable tax
regime.
C4 The State
The State acts as an insurer in situations where the
insurance market is unable or unwilling to provide cover,
e.g. war and terrorism risks, and export credit guarantee
insurance.
The State also acts as its own insurer for many of its
risks, e.g., the State self-insures the motor risk of certain
State vehicles. The State Claims Agency (SCA) will deal
with claims arising from use of those State vehicles.
There are different authorities that deal with other State
motor claims. For example, Córas Iompair Éireann (CIÉ)
and the Rail Procurement Agency (RPA) are deemed to
be exempted persons under the Road Traffic Act
1961.
Irish Public Bodies Mutual Insurances Ltd (IPB
Insurances) insures some of the largest local authorities,
public and national government bodies for liability,
property and motor risks.
The SCA manages personal injury claims (both injuries
to employees and to members of the public), property
damage and clinical negligence claims brought against
certainStateauthorities.Therearecurrentlyapproximately
117 State authorities within the SCA’s remit. These
include, among others, all Government departments and
other specified State bodies/authorities, the Attorney
General, all Health Service Executive (HSE) facilities,
public hospitals and other agencies providing clinical
services and healthcare enterprises, An Garda Síochána,
the prison services, and community and comprehensive
schools.
Government departments and other State agencies,
whose claims are managed by the SCA, do not have
conventional insurance cover. Instead, these bodies
operate under State indemnity, i.e. a self-insurance model
whereby the State bears the financial risk associated
with the costs of claims.
D Distribution channels
Distribution channels are the means through which
insurers sell their products and services to insurance
buyers. There are two main types – insurance purchased
directly from the insurer and insurance purchased via an
insurance intermediary (an insurance broker).
Direct insurance involves the seller (insurer) dealing
directly with the buyer (customer) via call centres, online
and branch / sale office networks.
2
4. An insurance intermediary (intermediary) brings
together buyers and sellers of insurance.
The Central Bank has defined the scope of the role of the
different types of intermediaries based on the number of
products on which they can give advice.
D1 Other distribution channels
• Building societies and banks (or ‘bancassurance’)
promote products such as private medical
insurance, life insurance, serious illness cover,
pensions policies, savings plans and household
insurance.
• An Post offers a range of insurance products
underwritten by an insurer but marketed to
its customers as an An Post product (white
labelling).
• General insurers develop health plans through
a registered private health insurer and promote
products to their existing customer base.
• Tour operators and travel agents.
• Retailers selling life insurance and other insurance
products e.g. Tesco.
• Price comparison websites.
E Reinsurers
Reinsurance is a form of insurance for insurance
companies. It is the transfer to a reinsurer of all or part of
a risk underwritten by an insurer.
The main types of reinsurer are:
• specialist reinsurers that do not sell insurance
(only reinsurance)
• Lloyd’s syndicates
• insurance companies that also act as reinsurers.
Reinsurance brokers have specialist knowledge & their
primary role is:
• securing business from insurers
• placing business with reinsurers
• servicing and maintaining the business.
F The private health insurance market
The main reasons for taking out private health insurance
are:
• the high cost of medical treatment
• a perceived lack of access to public health services
• the perceived standard of public health services.
Customers without private health insurance tend to be
medical card holders (i.e. were entitled to free public
healthcare services).
F1 Private health insurers
Today there are five open membership undertakings
operating in the market – Aviva Health, GloHealth, Laya
healthcare (owned by AIG), VHI Healthcare and the
Hospital Saturday Fund (HSF) Health Plan Ltd. HSF Health
Plan Ltd operates differently from the other commercial
private health insurers as it does not offer comprehensive
in-patient plans.
F1a Other providers of health insurance
Restricted membership undertakings are schemes
where membership is restricted to employees (and their
dependants) of particular organisations. There are seven
of these schemes in Ireland, e.g. the ESB Staff Medical
Provident Fund. Although such schemes are subject to their
own particular terms and conditions, they are regulated
under the Health Insurance Acts 1994–2014.
F2 Employee benefit consultants
Employee benefit consultants normally work on a
fee-for-service basis with large businesses that arrange
health insurance for their employees as a fully or partially
subsidised benefit.
3
5. G Industry and professional bodies
Industry bodies represent the interests of their members,
who work in a particular industry or sector. The role of
professional bodies normally includes education and
maintaining professional standards & these bodies do not
have a regulatory function.
G1 Insurance Ireland
Insurance Ireland is the largest of the industry bodies
in the insurance sector in Ireland. It has domestic and
international member insurance companies (both life and
non-life).
Collectively, Insurance Ireland members insure over 95%
of all life and non-life insurance business in Ireland. Each
year this business (domestic and overseas) generates
€25 billion in premium income and contributes €1.6 billion
in tax to the Irish exchequer.
As the industry body for insurance companies in Ireland,
Insurance Ireland has no statutory powers of regulation.
Rather its role, as the voice of insurance companies
in Ireland, is to represent and advocate on behalf of its
members to Government, state agencies, regulatory
bodies, public representatives, other national interest
groups, the media and the general public.
Insurance Ireland also represents its members on a
European and global level and keeps them up-to-date on
relevant policy and regulatory developments. It provides a
forum for member debate and policy formulation on such
issues.
The specific roles undertaken by Insurance Ireland are:
• InsuranceLink – This is a shared database
established by Insurance Ireland to assist in the
detection and defence of exaggerated injury
claims, which may result in prosecutions for fraud.
• Insurance Information Service (IIS) – a free
service to the public, which aims to help those
who want independent information about
insurance, or need help in resolving a problem
with their insurance company.
• Declined Cases Agreement (DCA) – Insurance
Ireland administers the Declined Cases
Agreement (DCA) and assists those who
are finding it difficult to obtain insurance quotes
for compulsory third party motor insurance.
• Annual Factfile – provides detailed statistical
analysis of the country’s insurance sectors.
This provides a breakdown of premiums and
claims, identifying trends and market share
information to member companies.
• Insurance Confidential – this helpline facility
is designed to encourage whistle-blowing on
those suspected of cheating the insurance
system in any way.
Insurance fraud costs insurance companies in Ireland
an estimated 0200 million annually. Insurance Ireland is
committed to reducing overall claims costs to its member
companies and its activities in relation to fraud prevention
and detection play an important role in this regard. Since
its establishment in 2003, over 7,500 cases of suspected
fraud have been reported to Insurance Confidential.
G2 Motor Insurers’ Bureau of Ireland
The Motor Insurers’ Bureau of Ireland (MIBI)
operates a scheme to pay compensation to victims involved
in accidents with uninsured vehicles or unidentified drivers.
All motor insurers must, by law, be a member of the MIBI.
• Uninsured vehicles – If the vehicle is
not insured and its driver is liable for an accident,
compensation will be paid to the claimant.
There’s no limit on the monetary amount paid
out for personal injury, whilst vehicle and
property damage claims are subject to a limit of
€1.12 million per claim. An excess
(deductible) applies to the property damage
element of the claim.
4
6. • Untraced or unidentified drivers (vehicles)
– If the driver is untraced or unidentified, the
MIBI will compensate the claimant for personal
injury. The MIBI is not liable to pay for vehicle
or property damage claims unless there are
significant personal injuries arising from the
same accident (i.e. an in-patient hospital stay for
5 days or more). In these circumstances, an
excess of €500 applies to the vehicle or
property damage element of the claim.
G3 Other trade and professional bodies
Other industry and professional bodies include:
Organisation Membership and
function
The Insurance Institute of
Ireland (III)
The professional
standards, training and
educational body for the
general insurance industry
in Ireland.
Life Insurance Association
(LIA)
An educational and
professional body for
people working in the
financial services industry.
Irish Brokers Association
(IBA)
An industry body
representing insurance
brokers in Ireland and a
member of BIPAR (see
below).
Professional Insurance
Brokers Association
(PIBA)
An industry body
representing insurance
brokers in Ireland.
Association of Compliance
Officers in Ireland (ACOI)
A professional body
of compliance officers
and those employed by
regulatory bodies.
Dublin International
Insurance & Management
Association (DIMA)
An industry body
representing international
insurance, reinsurance
and captive companies
at national and European
level.
Organisation Membership and
function
Insurance Europe A European federation of
national insurance industry
associations (such
as Insurance Ireland),
providing a forum at EU
level for its 34 member
associations.
Bureau International des
Producteurs d’Assurances
et de Reassurances
(BIPAR – European
Federation of Insurance
Intermediaries)
A European federation
for national insurance
intermediaries
associations (such as the
IBA), providing a forum
at EU level for its 52
member organisations
from 32 countries.
Global Federation of
Insurance Associations
A global federation of
national insurance industry
associations (such
as Insurance Ireland),
providing a forum at a
global level for its 39
member associations.
5