Insurance - I

Insurance: Meaning, Definition, characteristics, Origin and development, Functions, Limitations. Difference between Insurance & Assurance. Insurance Vs. gambling, Role and significance of Insurance, Important terminology used in Insurance. Role of Information technology in Insurance.

General principles of Insurance: Essentials of insurance contracts-Offer and Acceptance, Legal Considerations, Free consent, legality of contract etc. Distinction between General Law of contract and Insurance contract; Life and indemnity Contract.

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

Double Insurance: Meaning, Features, over insurance
Reinsurance: Characteristics of Reinsurance ,Types of Reinsurance. Reinsurance Vs. Double insurance, Essentials of reinsurance and important terms used in reinsurance

Insurance Agents: Meaning, Characteristics, Kinds of Insurance agent, qualities, requirements of insurance agent, Process of agency building, Agency law and code of conduct.