Insurance - II

Paper Code: 
FSI 216
Credits: 
3
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: 
2018-2019
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