Coming soon
Insurance
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.
Meaning, Definition, Characteristics, Functions, Limitations.Insurance as 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, Types of Hazards.
Risk Management: Meaning, need, Process
Principles of Insurance: Principle of Utmost Good Faith, Principle of Insurable interest, Indemnity, Subrogation, CausaProxima.
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
• MJ Mathew,”RiskManagement and Insurance”,RBSAPublications,Jaipur.
• “Risk and Insurance management” Dr. R.K. Kothari, Dr. MukeshJain,RBDpublications,Jaipur
• Neelam C.Gulati,”Principles of Insurance Management", Excel books
• Insurance management(text and cases), Swarup C. Sahoo, Suresh C.Das, Himalyapublishing house
• Principles of risk management and Insurance,George E. Rejda, Pearson Publiction
• Insurance and risk management, P.K. Gupta, Himalya publishing house
• Life Insurance module,Vol.I,II
