Insurance Sector

 Essay about Insurance Sector

1В В

BasicsВ

ofВ

InsuranceВ

2В В

Contents: -В

* Insurance coverage

* General insurance

5. Insurance market scenario

2. Emerging tendencies in insurance

3В В

LearningВ

InsuranceВ

* What Is Insurance

Insurance is involved with safety of financial value of assets. Tangible assets are human beings, residence, furniture, motor cycle etc . Intangible assets happen to be liabilities В В В В В

4В В

Good InsuranceВ

5. It started from Lloyd's coffee house London

5. First coverage issued in the uk in 1583

* In India initially policy issued in 1870

5В В

Good InsuranceВ

2. LIC of India formed in 1956 afterВ В

nationalization of a life insurance policy

Business of 245 non-public insuranceВ

corporations

* General insurance business of 107В В

insurance companies wasВ В

nationalized in 1972 & 4 public sector General Insurance agencies were formedВ 6В В

Classes ofВ В

InsuranceВ

A. Life insurance

B. General insurance

General insurance is furtherВ В В

classified: -

1 . Fireplace insurance

installment payments on your Marine insurance

3. Assorted insuranceВ

7В В

Miscellaneous Insurance coverages: -В

1 ) Motor insurance

2 . Mediclaim insurance

three or more. Householders insurance

4. Shopkeepers insurance

your five. Engineering insurances

etc .

Primary Principles of Insurance

1 . Insurable interest- Means economic interestВ

installment payments on your Utmost very good faith- Greater duties of faithВ

in proposer & insurer В

3. Indemnity- Actual compensation of loss. В

not really applicable in every area of your life policiesВ В

9В В

Important Principles ofВ В В В

InsuranceВ

4. Subrogation-Transfer of privileges of covered to insurance provider. Not appropriate in life plans. В 5. Contribution-Sharing of damage by all insurers. Certainly not applicable in life policies. В 10В В

Industry Scenario ahead of Irda ActВ В В В

1999В

Life insurance organization

1 . LIC of India

General insurance agencies

1 . Nationwide insurance company limited

2 . Fresh India assurance company limited

3. Oriental insurance company ltd

4. United India insurance provider ltd

11В В

Market Situation after Irda Act 1999В

Stage of

Liberalization,

Privatization &

The positive effect

(Competition among public sector & private sector)В 12В В

Life Insurance CompaniesВ

1 . Bajaj Allianz Insurance coverage Company LtdВ

2 . Birla Sun A life insurance policy Company LtdВ

3. HDFC Standard Life Insurance Company LtdВ

4. ICICI Prudential A life insurance policy Company LtdВ

5. ENT Vysya A life insurance policy Company LtdВ

6. Maximum New York Life Insurance Company LtdВ

13В В

Life Insurance CompaniesВ

six. Met Existence India Insurance carrier Ltd

almost eight. Kotak Mahindra Old Shared Life InsuranceВ Company Limited

9. SBI Life Insurance Organization LtdВ

15. Tata AIG Life Insurance Organization LtdВ

11. Reliance Life insurance coverage Company LtdВ

14В В

A life insurance policy CompaniesВ

doze. Aviva Insurance coverage Company LtdВ

13. Sahara India Existence InsuranceВ В

Organization Ltd

14. Shriram Insurance coverage Company

Ltd

15. Bharti Axa Life insurance coverage Company

Ltd

16. Life insurance coverage Corporation Of

IndiaВ

15В В

Life Insurance CompaniesВ

17. Future Generali India Life InsuranceВ В

Company Limited. В В

18. IDBI Fortis Life Insurance CompanyВ В

Ltd.

nineteen. Canara HSBC Oriental Financial institution of

Commerce Life Insurance Company Ltd. В

16В В

A life insurance policy CompaniesВ

twenty. Aegon Religare Life InsuranceВ В

Company Limited.

21. DLF Pramerica A life insurance policy Co. Ltd.

22. Star Union Dai-ichi Life Insurance Co. В В В В

Limited.

23. India First Insurance coverage Company Ltd.

24. Edelweiss Tokio Insurance coverage Co. Limited

17В В

General Insurance CompaniesВ

1 . Bajaj Allianz Standard Insurance Company Limited

2 . Icici Lombard GeneralВ Insurance Company Ltd

3. Iffco Tokio Basic Insurance Company Ltd

4. Reliability General Insurance carrier Ltd

a few. Royal Sundaram Alliance Insurance carrier LtdВ...


Related

Indian Lake Citrus Financial management Composition

1 . SHOULD THE $100, 000 THAT WAS PUT IN TO RESTORE THE PLANT BECOME INCLUDED IN THE EXAMINATION? EXPLAIN. The $100, 000 is a cost already…...

Foreign Insurance plan on the Philippines Essay

Weems Wong Overseas Policy on Philippines The usa now gained the Spanish-American war. Ok now what? Continuing for taking more, this was American's great goal. The…...

Marine Insurance Act 1963 Essay

OCEAN INSURANCE ACT 1963 THE MARINE INSURANCE ACT, 1963 ACT NO . 11 OF 1963 [18th Apr, 1963. ] An Act to codify legislation relating to sea insurance.…...

Rivers of India Composition

Supply of brahmaputra Method to obtain Ganga Ganga delta Brahmaputa delta Three main streams of the North plains will be the Satluj, Chollo and Brahmaputra.…...

Bond Concern Essay

Bond Issue The city of Salina, Kansas has been up against a tough decision. There are two high educational institutions in Salina. There is a university located southern…...

Parthenon Composition

Athena by Jerr Stowe Period 2 The god as the topic of discussion in this record is Athena. Athena was an important part of the Olympic…...

Milan Kundera’s The Unbearable Lightness of Being: Lightness or Heaviness Essay

п»їBrittany Stuberfield Professor Woehler Enc 1102 Nov 5, 2014 The Unbearable Lightness of Being The Unbearable Lightness of Being opens using a philosophical…...

science and indigenous knowledge Essay

" Scientific research: a human body of knowledge based on facts led by systematic experimentation, and analysis, plus the formulation of general principles” (Geddes and Grosset, 2007) vs .…...

Sample Approach Maps Dissertation

Sample Strategy Roadmaps Best Practice Strategy Maps Software Company Strategy Map Financial Perspective Leader in Strategic Market segments Increased Aktionar Value Mix up Revenue…...

Essay around the Merge: Tmobile and Metropcs

The Blend: T-Mobile & Metro COMPUTERS Two of the largest low-cost cellular providers, T-Mobile and Community PCS, happen to be preparing to combine into one solitary entity. The resulting…...