Insurance

Paper Code: 
FSG 616
Credits: 
3
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

The objective of this course is to understand basic concept of insurance & risk management because Insurance plays important role in the socio-economic prosperity of the country.

9.00

Insurance: Meaning, Definition, Characteristics, Functions, Limitations.Insurance as Investment Opportunity.
Difference between Insurance & Assurance. Types of Insurance- Life, General, Marine, fire Insurance.

10.00

Risk: Meaning and definition of Risk, Classification of Risk, Perils, Hazards, Types of Hazards.
Risk Management: Meaning, Features, Objective, Process

8.00

Principles of Insurance: Principle of Utmost Good Faith, Principle of Insurable interest, Indemnity, Subrogation, Causa Proxima.

9.00

Types of Insurance Contracts: Legal requirements of Insurance contract. Distinction between General Law of Contract and Insurance Contract; Life and indemnity Contract.
Double Insurance and Reinsurance.

9.00

Insurance Product: Types of Life Insurance plans- Annuity, endowment, Term plans, Process of issuing Insurance policy.

Essential Readings: 
  • MJ Mathew,”RiskManagement and Insurance”,RBSA Publications,Jaipur.
  • Neelam C.Gulati,”Principles of Insurance Management", Excel books
References: 

 

  • Karam Pal,B.S.Bodla,M.C.Garg,”Insurance Management: Principles & Practices, Deep& Deep Publications
  • Life Insurance,Vol.I,II
Academic Year: 
2016-2017
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