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Insurance - I [1]

Paper Code: 
FSI 116
Credits: 
3
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

To enhance the practical knowledge of students related to international trade & Insurance.

 

9.00
Unit 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.

10.00
Unit II: 

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.

8.00
Unit III: 

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

9.00
Unit IV: 

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

9.00
Unit V: 

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

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 ,Life Insurance Module (Insurance institute of India)

Academic Year: 
2018-2019 [2]

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Source URL: https://finance.iisuniv.ac.in/courses/subjects/insurance-i

Links:
[1] https://finance.iisuniv.ac.in/courses/subjects/insurance-i
[2] https://finance.iisuniv.ac.in/academic-year/2018-2019