Transport &Insurance

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Mohamed Nizreen Mohamed Nazzry (HNDA-
B.com Spcl), CBA-ICASl

Describe about Transportation and provide some
information through this presentation.
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 Introduction.
 Characteristics of Transport.
 Main Elements of Transport.
 Modes Of Transport.
 Pros & Cons of Transport.
 Current development in srilanka at transport.
 ADVANTAGES & Disadvantages Of Transportation.
 How Important To Business.
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Any device used to move an item from one location to
another location.
(Source: business dictionary)
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Main elements of
Transport
Examples
Road/Way Highways, Railways,Airways,Seaways
Carriage/Media Buses,Trains,Ships,Aircrafts
Power Petrol,Diesel,Super petrol, Wind,
Terminal Bus depot, Railway station,Harbours,Airports
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Land
1. Road Transport
2. Rail Transport
Water
1. Local water Transport
2. Foreign water Transport
Air
1. Local Air
Transport
2. International Air
Transport
(Source: G.C.E.Advanced Level Notes) 7

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Disadvantages
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Advantages
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Disadvantages
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Advantages
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Disadvantages
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Advantages
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Disadvantages
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1. Southern express highway.
2. Colombo katunayaka highway.
3. Colombo matara railway development.
4. Colmobo jaffna railway development.
5. BIA of katunayaka developed.
6. Hambantota harbor.
7. Batticaloa bridge
(Source: Development for nation Magazine-by Finance & planning ministry) 16

(Source: A/L Notes)
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 Introduction.
 Parties related to insurance.
 Principles of insurance.
 Main kinds of insurance.
 Difference between life & general insurance.
 Recent development of insurance.
 Risks & uncertainty.
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.
Describe about Insurance and provide some
information through this presentation.
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A contract (policy) in which an individual or entity
receives financial protection or reimbursement against
losses from an insurance company.
(Source:investopedia.com)
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1.The insurer - This is the institution which bears the
insurance risk.
 There are 22 companies in srilanka For an examples
2. Insured - That is the person who obtains the
insurance cover.
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1. Utmost good faith.
2. Insurance Interest.
3. Indemnity.
4. Contribution.
5. Subrogation.
6. Proximate-cause.
 Insurance companies registered under the regulation of
insurance industry act no. 43 of 2000.
 Insurance board of srilanka(IBSL) is the organizer of all
insurance companies in srilanka.
(source: Association of accounting technician-AAT)
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Life insurance General insurance
Fire
Motor
Health
Marine
(Source: A/L Notes)
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Life insurance General insurance
There is a definite risk to life. No such definite risk.
A saving type. Not saving type.
Policy can transferable to
another.
Not transferable.
An individual can insure for
his life.
A property is only for the true
value.
We can use as a security for
loan.
Cannot kept as security.
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
This is for the same property taking policies from two or more insurance
companies.
E.g. If a motor car worth Rs.800000/= is insured for the same value in two insurance
companies if damage occurs they will paid the value only.

This is insured property is again insured by the particular insurance
company in another company.
Eg.The oil tanks of srilanka petroleum corporation are insured in dobra insurance
company but which was reinsured by the company to srilanka insurance
corporation.
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Risks
Risks means which may or may not occur but
whose probability of occurrence can be calculated
so risks are insurable.
(Source:Mgt & business economics (CAB-1)-ICASL)
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Uncertainty
Uncertainty involves events which can not be insured
against.
Their outcome cannot be predicted with statistical
confidence.
It may occurs from several reasons,
1. -changing market condition
2. -Entry of new firms
3. -Technological changes
4. -Government policies (price control)
(source:Mgt & business economics (CAB-1)-ICASL)
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 Insurance companies in srilanka increased.
 Insurance brokering companies increased.
 Total assets increased.
 Claim ratios increased.
 Solvency margin (needed to maintain)
(Source: Article by; M. Hakim Usoof B.Com.,F.C.A.)
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