The Insurance Regulatory and Development Authority of India (IRDA) is the insurance regulator in India. It was established in 2000 to regulate and promote the insurance industry. IRDA aims to protect policyholders' interests and ensure the financial soundness of insurance companies. It regulates 31 general insurance and 24 life insurance companies. IRDA's roles include issuing licenses, setting rules and regulations, handling disputes through its ombudsman, and regulating insurance premium rates. It oversees both life insurance (e.g. term plans, retirement plans) and general/non-life insurance (e.g. health, motor, property policies). IRDA has various committees that advise on regulatory matters and handle complaints and disputes.
About the company, understanding consumer behavior, questionnaire design, advertisement design, poster design, ad design, story line, DSF expansion plan
A Project Report on - FINANCIAL PERFORMANCE OF LIC AND PRIVATE SECTOR LIFE...Karteek Chedadeepu
FINANCIAL PERFORMANCE OF LIC AND PRIVATE SECTOR LIFE INSURANCE COMPANIES IN INDIA
- A COMPARATIVE ANALYSIS USING CARAMEL MODEL..
This is my project report. I did my project on the financial performance of private and public sector of Life insurance companies India by using CARAMEL model.
About the company, understanding consumer behavior, questionnaire design, advertisement design, poster design, ad design, story line, DSF expansion plan
A Project Report on - FINANCIAL PERFORMANCE OF LIC AND PRIVATE SECTOR LIFE...Karteek Chedadeepu
FINANCIAL PERFORMANCE OF LIC AND PRIVATE SECTOR LIFE INSURANCE COMPANIES IN INDIA
- A COMPARATIVE ANALYSIS USING CARAMEL MODEL..
This is my project report. I did my project on the financial performance of private and public sector of Life insurance companies India by using CARAMEL model.
Need of new Financial Instruments, New Financial Instruments, Global Depository Receipts (GDRs), Advantages, ADR, Zero Coupon Debenture, Deep Discount Bonds, Infrastructure bonds, Floating rate bonds, Municipal bonds, Regular income bonds, Retirement bonds, Growth bonds etc.
नए वित्तीय साधनों, नए वित्तीय साधनों, वैश्विक डिपॉजिटरी प्राप्तियों (जीडीआर), लाभ, एडीआर, जीरो कूपन डिबेंचर, डीप डिस्काउंट बांड, इन्फ्रास्ट्रक्चर बॉन्ड, फ्लोटिंग रेट बॉन्ड, म्यूनिसिपल बॉन्ड, रेगुलर इनकम बॉन्ड, रिटायरमेंट बॉन्ड, ग्रोथ बॉन्ड आदि की जरूरत है।
Part-1 link: https://youtu.be/BnhujbYLwO4
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Disclaimer- Some contents are used for educational purpose under fair use. Copyrights Disclaimer under Section 107 of the Copyright Act 1976, allowance is made for: fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. All credit for copyright material used in video goes to respected owner.
Certificate of deposit is a negotiable money market instrument which is issued in a dematerialized form or as a promissory note for funds deposited at bank. Banks are free to issue as many certificates as they require. The minimum amount for issuing certificate of deposit is Rs 1 lakh and thereafter it must be in multiples of Rs 1 lakh. Trusts, associations, companies and individuals can subscribe to certificate of deposit. These certificates are issued on a floating rate basis. In case of financial institutions the maturity period for a certificate of deposit is minimum 1 year and maximum 3 years. Banks can neither issue loans on the basis of certificate of deposit nor can they buyback these certificates before maturity. Physical certificate of deposit is freely transferable by endorsement or delivery while the dematted deposits can be transferred in the same manner as other dematerialized securities.
Objectives & Agenda :
Companies can use either equity or debt form to raise capital. Equity can be raised by way of rights issue, bonus issue, private placement, public issue, etc. An offer of securities made to the existing shareholders of the Company is a rights issue. Bonus shares may be issued to the members of the Company out of its free reserves, or securities premium account or capital redemption account. The webinar covers the statutory / practical aspects of rights issue and bonus issue, including caveats relating to such issues.
In FRA, one user agrees to lend or borrow to another a specific amount of money at a future date and at a fixed rate.
The buyer enters into an FRA to get protection from any future rise in the interest rate. The seller enters into FRA to get protection from dropping interest rates.
To know more about it, click on the link given below:
https://efinancemanagement.com/investment-decisions/forward-rate-agreement-meaning-features-example-and-more
Life insurance
Insurance
Types of life insurance
Term insurance
Endowment policy
Unit linked insurance plans
Whole life insurance
Facts about life insurance
An organization study on Reliance life insurance
(With specific reference to customer satisfaction)
Submitted in partial fulfillment of the requirement of the
Bachelor of Business Management Degree
Offered by Jain University during the year 2012
Life insurance (or life assurance, especially in the Commonwealth), is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money (the benefit) in exchange for a premium, upon the death of an insured person (often the policy holder). Depending on the contract, other events such as terminal illness or critical illness can also trigger payment. The policy holder typically pays a premium, either regularly or as one lump sum. Other expenses (such as funeral expenses) can also be included in the benefits.
Insurance, Actuarial Insurance, Actuary, Appointment of Actuary in India, Duties and Obligation of Actuary, Reserves, Need for reserves, Sources of Reserves, Assessment Premium Plan, Natural Premium Plan, Level Premium Plan, Prospective Methods, Retrospective Methods, Group policies, Single policies,
Need of new Financial Instruments, New Financial Instruments, Global Depository Receipts (GDRs), Advantages, ADR, Zero Coupon Debenture, Deep Discount Bonds, Infrastructure bonds, Floating rate bonds, Municipal bonds, Regular income bonds, Retirement bonds, Growth bonds etc.
नए वित्तीय साधनों, नए वित्तीय साधनों, वैश्विक डिपॉजिटरी प्राप्तियों (जीडीआर), लाभ, एडीआर, जीरो कूपन डिबेंचर, डीप डिस्काउंट बांड, इन्फ्रास्ट्रक्चर बॉन्ड, फ्लोटिंग रेट बॉन्ड, म्यूनिसिपल बॉन्ड, रेगुलर इनकम बॉन्ड, रिटायरमेंट बॉन्ड, ग्रोथ बॉन्ड आदि की जरूरत है।
Part-1 link: https://youtu.be/BnhujbYLwO4
Make sure to like and share the video. Your support and love is very important to me.
Follow me on slideshare: https://www.slideshare.net/GitanjaliJindal
Disclaimer- Some contents are used for educational purpose under fair use. Copyrights Disclaimer under Section 107 of the Copyright Act 1976, allowance is made for: fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. All credit for copyright material used in video goes to respected owner.
Certificate of deposit is a negotiable money market instrument which is issued in a dematerialized form or as a promissory note for funds deposited at bank. Banks are free to issue as many certificates as they require. The minimum amount for issuing certificate of deposit is Rs 1 lakh and thereafter it must be in multiples of Rs 1 lakh. Trusts, associations, companies and individuals can subscribe to certificate of deposit. These certificates are issued on a floating rate basis. In case of financial institutions the maturity period for a certificate of deposit is minimum 1 year and maximum 3 years. Banks can neither issue loans on the basis of certificate of deposit nor can they buyback these certificates before maturity. Physical certificate of deposit is freely transferable by endorsement or delivery while the dematted deposits can be transferred in the same manner as other dematerialized securities.
Objectives & Agenda :
Companies can use either equity or debt form to raise capital. Equity can be raised by way of rights issue, bonus issue, private placement, public issue, etc. An offer of securities made to the existing shareholders of the Company is a rights issue. Bonus shares may be issued to the members of the Company out of its free reserves, or securities premium account or capital redemption account. The webinar covers the statutory / practical aspects of rights issue and bonus issue, including caveats relating to such issues.
In FRA, one user agrees to lend or borrow to another a specific amount of money at a future date and at a fixed rate.
The buyer enters into an FRA to get protection from any future rise in the interest rate. The seller enters into FRA to get protection from dropping interest rates.
To know more about it, click on the link given below:
https://efinancemanagement.com/investment-decisions/forward-rate-agreement-meaning-features-example-and-more
Life insurance
Insurance
Types of life insurance
Term insurance
Endowment policy
Unit linked insurance plans
Whole life insurance
Facts about life insurance
An organization study on Reliance life insurance
(With specific reference to customer satisfaction)
Submitted in partial fulfillment of the requirement of the
Bachelor of Business Management Degree
Offered by Jain University during the year 2012
Life insurance (or life assurance, especially in the Commonwealth), is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money (the benefit) in exchange for a premium, upon the death of an insured person (often the policy holder). Depending on the contract, other events such as terminal illness or critical illness can also trigger payment. The policy holder typically pays a premium, either regularly or as one lump sum. Other expenses (such as funeral expenses) can also be included in the benefits.
Insurance, Actuarial Insurance, Actuary, Appointment of Actuary in India, Duties and Obligation of Actuary, Reserves, Need for reserves, Sources of Reserves, Assessment Premium Plan, Natural Premium Plan, Level Premium Plan, Prospective Methods, Retrospective Methods, Group policies, Single policies,
The simplified electron and muon model, Oscillating Spacetime: The Foundation...RitikBhardwaj56
Discover the Simplified Electron and Muon Model: A New Wave-Based Approach to Understanding Particles delves into a groundbreaking theory that presents electrons and muons as rotating soliton waves within oscillating spacetime. Geared towards students, researchers, and science buffs, this book breaks down complex ideas into simple explanations. It covers topics such as electron waves, temporal dynamics, and the implications of this model on particle physics. With clear illustrations and easy-to-follow explanations, readers will gain a new outlook on the universe's fundamental nature.
How to Build a Module in Odoo 17 Using the Scaffold MethodCeline George
Odoo provides an option for creating a module by using a single line command. By using this command the user can make a whole structure of a module. It is very easy for a beginner to make a module. There is no need to make each file manually. This slide will show how to create a module using the scaffold method.
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.
This slide is special for master students (MIBS & MIFB) in UUM. Also useful for readers who are interested in the topic of contemporary Islamic banking.
Safalta Digital marketing institute in Noida, provide complete applications that encompass a huge range of virtual advertising and marketing additives, which includes search engine optimization, virtual communication advertising, pay-per-click on marketing, content material advertising, internet analytics, and greater. These university courses are designed for students who possess a comprehensive understanding of virtual marketing strategies and attributes.Safalta Digital Marketing Institute in Noida is a first choice for young individuals or students who are looking to start their careers in the field of digital advertising. The institute gives specialized courses designed and certification.
for beginners, providing thorough training in areas such as SEO, digital communication marketing, and PPC training in Noida. After finishing the program, students receive the certifications recognised by top different universitie, setting a strong foundation for a successful career in digital marketing.
Macroeconomics- Movie Location
This will be used as part of your Personal Professional Portfolio once graded.
Objective:
Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
A review of the growth of the Israel Genealogy Research Association Database Collection for the last 12 months. Our collection is now passed the 3 million mark and still growing. See which archives have contributed the most. See the different types of records we have, and which years have had records added. You can also see what we have for the future.
This presentation was provided by Steph Pollock of The American Psychological Association’s Journals Program, and Damita Snow, of The American Society of Civil Engineers (ASCE), for the initial session of NISO's 2024 Training Series "DEIA in the Scholarly Landscape." Session One: 'Setting Expectations: a DEIA Primer,' was held June 6, 2024.
Thinking of getting a dog? Be aware that breeds like Pit Bulls, Rottweilers, and German Shepherds can be loyal and dangerous. Proper training and socialization are crucial to preventing aggressive behaviors. Ensure safety by understanding their needs and always supervising interactions. Stay safe, and enjoy your furry friends!
1. BUSINESS ENVIRONMENT
PRESENTED ON
Insurance Regulatory and Development Authority
(IRDA)
SUBMITTED TO. SUBMITTED BY
DR. V. S. SUNDARAM MANOJ KUMAR
FOC BHU VARANASI MBA (FM) 2020-22
Roll No.-30
Semester-1st
3. INTRODUCTION
The Insurance Regulatory and Development Authority of india is autonomous body .
The Government of India was the regulator for the insurance industry until 2000. However, to institute a
stand-alone apex body, the IRDA was established in 2000 following the recommendation of the
Malhotra Committee report in 1999.
In August 2000, the IRDA began accepting applications for registrations through invites and allowed
companies from other countries to invest up to 26% in the market.
The IRDA has outlined several rules and regulations under Section 114A of the Insurance Act, 1938.
As of September 2020, there are 31 General Insurance companies and 24 Life Insurance companies who
are registered with the IRDA.
5. OBJECTIVE & MISSION
The main objective of the Insurance Regulatory and Development Authority of India is to enforce the
provisions under the Insurance Act. The mission statement of the IRDA is:
To protect the interest and fair treatment of the policyholder.
To regulate the insurance industry in fairness and ensure the financial soundness of the industry.
To regularly frame regulations to ensure the industry operates without any ambiguity.
6. STRUCTURES
As per the section 4 of IRDA Act' 1999, Insurance Regulatory and Development Authority specify the
composition of Authority,
The Authority is a ten member team consisting of
A Chairman
Five whole-time members
Four part-time members,(all appointed by the Government of India)
7. Cont…….
Tenure of office of chairperson and other members
1. The Chairperson and every other whole time member shall hold office for a term of five
years from the date on which he enters upon his office . Eligible for reappointment.
No person shall hold office as a Chairperson after he has attained the age of sixty-five years.
No person shall hold office as a whole time member after he has attained the age of sixty-two years
2. A part time member shall hold office for a term not exceeding five years from the date on
which he enters upon his office.
8. ROLES, POWERS & FUNCTIONS
The IRDA plays an integral role in emphasizing the importance of policyholders and their interest while
framing rules and regulations.
Here are the important roles of the IRDA:
To protect the policyholder’s interests.
To help speed up the growth of the insurance industry in an orderly fashion, for the benefit of the common
man.
To provide long-term funds to speed up the nation’s economy.
To promote, set, enforce and monitor high standards of integrity, fair dealing, financial soundness and
competence of the insurance providers.
To ensure genuine claims are settled faster and efficiently.
To prevent malpractices and fraud, the IRDA has set up a grievance redress forum to ensure the
policyholder is protected.
To promote transparency, fairness and systematic conduct of insurance in the financial markets.
9. Conti…..
To build a dependable management system to make sure high standards of financial stability are followed
by insurers.
To take adequate action where such high standards are not maintained.
To ensure the optimum amount of self-regulation of the industry.
11. HOW DOES IRDA WORKS
Issues certificate of registration to new insurance companies.
Sets rules and regulations to ensure the interests of the policyholder are taken care of.
Monitors all claims are settled in all fairness and that no insurer will deny any claim on their own free will.
Regulates the code of conduct of the insurance companies, insurance intermediaries, and others associated
with the insurance industry.
Provides solutions in case of disputes through the IRDA ombudsman.
Controls and regulates the rates of insurance to prevent unwanted price hikes in the insurance premium.
The apex body is responsible for setting the minimum percentage limit of insurance companies for General
and Life Insurance, thereby developing both urban and rural sectors.
12. TYPES OF INSURENSCE REGULATED BY IRDA
Insurance is mainly divided into Life and Non-Life/General Insurance. These are further classified into
other types of insurance.
1. Life Insurance 2. General Insurance
Term Plans Health Insurance Policies
Endowment Policies Vehicle/Motor Insurance Policies
Unit-linked Insurance Policies Property Insurance Policies
Retirement Policies Travel Insurance Policies
Money-back Policies Gadget Insurance policies etc.
13. COMMTTEES
1. ADVISORY COMMITTEE
There are 23 member Appointed in a advisory committee drawn from various fields of economics,
insurance industry, chambers of commerce, accountancy, academics and agriculture.
The chairman of IRDA and members of the authority will be the ex-officio chairperson and
ex- officio members respectively of the Insurance Advisory Committee.
2. TARIFF ADVISORY COMMITTEE (TAC)
The TAC was set up as a statutory body under the Insurance Act 1938 primarily to calculate premium
for general insurance companies.
Today TAC controls and regulates the rates, advantages,terms and conditions that may be offered by
insurers in respect of Indian General Insurance Business relating to Fire, Marine (Hull), Motor, Engg.
And Workmen Compensation.
14. GRIEVANCE CELL
This cell of IRDA looks into the complaints from the policy holders.
It handles the complaints against life and non-life insurers separately.
Only cases of delay/ non-response relating to policies and claims are taken up the cell.
As policy contracts in dispute require adjudication and since IRDA does not carryout any adjudication,
a quasi-judicial channel is made available in the form of ‘Insurance Ombudsman’.
15. OMBUDSMAN
The institution of Insurance Ombudsman was created by a Government of India Notification dated 11th
November, 1998 with the purpose of quick disposal of the grievances of the insured customers and to
mitigate their problems involved in redresal of those grievances.
This institution is of great importance and relevance for the protection of interestsof policy holders and
also in building their confidence in the system.
The institution has helped to generate and sustain the faith and confidence amongs the consumers and
insurers.
The governing body of insurance council issues orders of appointment of theinsurance Ombudsman on the
recommendations of the committee comprising of Chairman, IRDA, Chairman, LIC, Chairman, GIC and a
representative of the Central Government.
Insurance Ombudsman has two types of functions to perform
(1) conciliation, (2)Award making
. The insurance Ombudsman is empowered to receive and consider complaints in respect of personal
lines of insurance from any person who has and grievance against an insurer.