Coming soon
Insurance
The course will enable the students to provide a comprehensive understanding of insurance principles, types, risk management strategies, and the regulatory environment to make informed insurance decisions.
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Course
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Learning outcome (at course level) |
Learning and Teaching Strategies |
Assessment Strategies |
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Course Code
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Course Title |
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24SBFS202 |
Insurance (Theory)
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CO73 Analyze the fundamentals of insurance and classify different types of insurance. CO74 Analyze the impact of Risk and hazards on insurance by understanding the concept of the Risk Management process. CO75 Examining the principles and essentials of the insurance contract. CO76 Distinguish between different types of Insurance and examine the process of issuing of insurance policy. CO77 Critically Evaluate the Calculation of premium and claim settlement Procedures. CO78 Contribute effectively in course-specific interaction |
Approach in teaching: Blended Learning, Collaborative approach, Interactive Lectures, Discussion, Group Projects, PowerPoint presentation.
Learning activities for the students: Self-learning assignments, Seminar presentations, Case Study Analysis, Brainstorming activities
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Class tests, CA Test, Semester end examinations, Quiz, Evaluation of student Presentations,
Evaluation of Individual and group projects,
Assessment of Project Reports and viva voce. |
Insurance
Meaning, Definition, Characteristics, Functions, Limitations.
Insurance as an Investment Opportunity.
Types of Life Insurance plans- Annuity, endowment, Term plans, Unit Link Plans, whole life policy. Difference between Insurance & Gambling.
Types of Insurance- Life, General, Marine, fire Insurance.
Risk: Meaning, definition, characteristics of Insurable risk Classification of Risk, Methods of handling Risk, Perils, Hazards, and Types of Hazards.
Risk Management: Meaning, need, Process
Principles of Insurance: Principle of Utmost Good Faith, Principle of Insurable interest, Indemnity, Subrogation, Causa Proxima.
Essentials of Insurance Contracts: Legal requirements of Insurance contract.
Distinction between General Law of Contract and Insurance Contract; Life and indemnity Contract.
Types of Insurance: overview of Over insurance, Under insurance and Double Insurance.
Reinsurance: Meaning, characteristics, Methods-Facultative, Treaty, Pooling methods, Advantage of Reinsurance, Double Vs. Reinsurance
Process of issuing Life Insurance policy
Calculation of Premium: Net premium, Gross premium,
Methods of computation of Premium-Assessment plan, Natural premium Plan, Level Premium Plan, Mortality table-meaning, characteristics, need
Settlement of claim: Death claims, Maturity/Survival claims
1. MJ Mathew,” Risk Management and Insurance”,RBSA Publications, Jaipur.
2. “Risk and Insurance management” Dr. R.K. Kothari, Dr. ukeshJain, RBD publications, Jaipur
3. Neelam C. Gulati,” Principles of Insurance Management", Excel books.
4. Insurance management(text and cases), Swarup C. Sahoo, Suresh C.Das, Himalaya publishing house
5. Rejda & McNamara, Principles of Risk Management and Insurance, Pearson, 13th Edition, 2017.
6. Sethi Jyotsana & Bhatia Nishwan, Elements of Banking and Insurance, PHI Learning, Second Edition, 2012
1. Principles of risk management and Insurance, George E. Rejda, Pearson Publication
2. Insurance and risk management, P.K. Gupta, Himalaya Publishing House
3. Kenneth Blackawd Harold Skipper, Life and Health Insurance, Pearson, 13th Edition, 2009.
4. Mishra, M.N and S.B. Mishra. (2016). Insurance: Principles and Practice. S.Chand publications.
5. Life Insurance module, Vol.I, II
e-Resources
1. https://books.askvenkat.org/risk-management-insurance-book-pdf-free...
2. https://books.askvenkat.org/mba-books-free-download-pdf
3. https://archive.org/details/riskmanagementin0011trie
4. National Digital Library
5. World EBook Library
6. IRDA Journal
7. FIIB Business Review- http:// sagepub.com
8. Directory of Open Access Journals
9. R.B.I. Bulletin.
