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1. Dear students get fully solved assignments
Send your semester & Specialization name to our mail id :
help.mbaassignments@gmail.com
or
call us at : 08263069601
DRIVE SUMMER 2016
PROGRAM MBA
SEMESTER 4
SUBJECT CODE &
NAME
MF0018 & INSURANCE AND RISK MANAGEMENT
1. Explain price risk and its types. Explain Risk management methods
Explanation of price risk and types
Explanation on risk management methods
Answer: Price risk
Price risk represents the uncertainty about the magnitude of cash flows because of the probable
changes in the input and output prices. Output price risk stands for the risk of changes in the
prices which an organization may ask for its goods and services. Input price risk means the risk
of changes in the prices which a company has to pay for materials, labour and other inputs in the
production process.
2. An organization is a legal entity which is created to do some activity of some purpose.
There are elements of a life insurance organization. Explain the elements of life insurance
organization.
[Important activities-2
Internal organization-3
Distribution system-2
Functions of the agent-3]
Answer: Important activities
• Procuring applications or proposals from prospective buyers of life insurance.
• Scrutinizing and making decisions on the proposals for insurance. This is called
underwriting
3. Explain the doctrine of indemnity, doctrine of subrogation and warranties and its types
and classification.
Explanation of doctrine of indemnity
Explanation of doctrine of subrogation
Explanation of warranties and its types and classifications
Answer: Doctrine of indemnity

2. The contract of marine insurance is in the nature of indemnity. In any situation the insured is not
allowed to earn a profit out of a claim. Profits could be made in the absence of the principle of
indemnity
4. Give short notes on :
Evidence and claim notice.
Subrogation
Salvage
Answer: Evidence
To admit a claim, appropriate evidence related to the policy is needed. In marine insurance the
policy is generally issued on mutual understanding and good faith of both the parties. However,
at the time of claim, the insurer should satisfy itself about the information furnished by the
insured. The value of subject matter, nature of the subject matter, warranties, insurable interest,
etc., are
5. Explain the marketing mix (7 P’s) for insurance companies
Explanation on the marketing mix for insurance companies
Answer: Marketing Mix (7 P’s) for Insurance Companies
Marketing for insurance companies implies marketing insurance services with the objective to
create a customer base and make profit by the means of customer satisfaction. This emphasizes
on forming an appropriate marketing mix for insurance business for the insurance organization
to sustain in the industry. The marketing mix is a conglomeration of marketing activities
managed by an
6. Explain the benefits of reinsurance. Elaborate on the application of reinsurance.
Benefits of reinsurance
Application of reinsurance
Answer: Benefits of Reinsurance
(i) Increase in risk-taking capacity
As the direct insurer can reinsure part of certain risks, it can therefore accept more of the
original risk. It could be that a particu-lar insurer has calculated that it would not want to
provide fire insurance cover
Dear students get fully solved assignments
Send your semester & Specialization name to our mail id :
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