Insurance - II

Paper Code: 
FSI 216
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

9.00
Unit I: 
Process of Insurance:

 Life insurance and its procedure of issuing policy, General Insurance and its procedure. Calculation of premium-meaning, net and gross premium, factors affecting premium rate, methods of computation of premium calculation of premium, Loading, Mortality tables.

10.00
Unit II: 
Underwriting

: Meaning, purpose and principles of underwriting, The underwriting process, Methods of rate determination ,Types of underwriters ,Role of agents in underwriting.

8.00
Unit III: 
Claims Settlement:

meaning of claim pre-requisites of claim, classification of claim-maturity, death claim, claim by minor, Lunatics, Insolvents ,under disputes ,Ex-gratia claim .

9.00
Unit IV: 
Policy servicing:

Nomination and Assignment ,Alteration ,Revival ,Policy loans, Surrender value and paid up value, Issue of duplicate policy.

9.00
Unit V: 
Insurance business in liberalized era

: Insurance business in pre and post nationalization era, Weakness in insurance sector. Liberalization of Insurance industry in India.

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
  • Jyotsna sethi, Nishwan Bhatia,”Elements of banking and Insurance”,Prentice hall of India,Delhi
  • Life Insurance,Vol.I,II

 

Academic Year: 
2019-2020
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