This book comprehensively covers Insurance and its elements. Designed as per the syllabus for various Indian Universities, the book provides an elaborate treatment to the conceptual framework of Insurance.
Cover
Title Page
Copyright Page
Contents at a Glance
Contents
Preface
Chapter 1. Nature of Insurance Business
Meaning and Definition of Insurance
Main Features of an Insurance Contract
Characteristics of Insurance Contract
Functions of Insurance
Importance of Insurance
Benefits of Insurance
Kinds of Insurance Organizations
Role of Insurance in the Development of Commerce and Industry
Scope of Insurance Business
Review Questions
Chapter 2. Re-Insurance and Double Insurance Business
Re-insurance
Characteristics of Re-insurance
Types of Re-insurance
Double Insurance
Over Insurance
External Insurance and Internal Insurance
Review Questions
Chapter 3. Classification of Insurance
Introduction
Broad Categories of Insurance
Classification on the Basis of Practical Point of View
Types of Insurance
Review Questions
Chapter 4. Principles and Documents of Insurance Contract
Introduction
Essential Elements of a Contract of Insurance
Insurance Documents
Review Questions
Chapter 5. Introduction to Life Insurance Business
Life Insurance
Essential Features of Life Insurance
Procedure for Effecting Life Insurance
Review Questions
Chapter 6. Classification of Life Insurance Policies
Life Insurance Policies
Classification of Policies
Shopkeepers Insurance Policy
Review Questions
Chapter 7. Assignment and Nomination of Life Policies
Assignment
Nomination of Life Policy
Review Questions
Chapter 8. Life Insurance Corporation of India (LIC)
Introduction
Life Insurance Administration
Role of LIC in National Economy
Investment of Funds
Progress of Life Business of LIC
Review Questions
Chapter 9. Marketing of Life Insurance Business
Introduction
Concept of Insurance Market
Characteristics of Life Insurance Services
Life Insurance Marketing Mix
4 C’s of LIC Marketing
Customer Relationship Marketing in Insurance (CRM)
Scope of Life Insurance Marketing
Review Questions
Chapter 10. LIC and Financial Services
Advances against Life Insurance Policies
LIC Housing Finance Limited
LIC Mutual Funds
Types of LIC Mutual Funds
Factors which Determine the Mutual Funds
Information Technology In LIC
Review Questions
Chapter 11. Role of Development Officer
Introduction
Importance of Development Officer
Duties of Development Officer
Qualities of a Successful Development Officer
Review Questions
Chapter 12. Role of Insurance in Termediaries
Introduction
Insurance Brokers
Corporate Insurance Agents
Essential Qualities Required for a Successful Agent
Review Questions
Chapter 13. Bancassurance
Meaning of Bancassurance
Origin of Bancassurance
Types of Bancassurance
Benefits of Bancassurance
Distribution Channels of Bancassurance
Guidelines for Bancassurance
Challenges for Bancassurance
Review Questions
Chapter 14. General Insurance Business and Role of GIC of India
General Insurance in India
General Insurance Business (Nationalisation) Act 1972
General Insurance Corporation of India (GIC)
The Changing Scenario of General Insurance Business
Review Questions
Chapter 15. Nature of Marine Insurance Contract
Introduction
Contents of Marine Policy
Essential Elements of Marine Insurance
Double Insurance in Marine Insurance
Re-insurance in Marine Insurance Scheme
Mutual Insurance in Marine Insurance
Procedure for Taking Out a Marine Policy
Review Questions
Chapter 16. Marine Insurance Policies and Important Clauses
Marine Policy
Kinds of Marine Policies
Important Clauses in Marine Policy
Review Questions
Chapter 17. Marine Losses and Abandonment
Introduction
Kinds of Marine Losses
Total loss
Abandonment
Partial Loss
Rights of Insurer on Payments
Review Questions
Chapter 18. Nature of Fire Insurance Contract
Introduction
Fire
Subject Matter of Fire Insurance
Features of Fire Insurance
Fundamental Principles of Fire Insurance
Fire Policy
Procedure for Taking Fire Insurance Policy
Review Questions
Chapter 19. Types of Fire Insurance Policies
Common Policies in Fire Insurance
Double Insurance in Fire Insurance
Re-insurance in Fire Insurance
Assignment of Fire Policy
Payment of Claims
Average Clause in Fire Policy
Rights of the Insurer
Review QuestionsCHAPTER 20 FIRE INSURANCE CLAIMS
Chapter 20. Fire Insurance Claims
Introduction
Procedure for Fire Insurance Claim
Types of Losses due to Fire
Review Questions
Chapter 21. Motor Vehicle, Personal Accident, Pedal Cycle and Plate Glass Insurance
Motor Vehicle Insurance
Personal Accident Insurance
Pedal Cycle Insurance
Plate Glass Insurance
Review QuestionsCHAPTER 22 HEALTH INSURANCE AND STUDENT SAFETY INSURANCE
Chapter 22. Health Insurance and Student Safety InsurAnce
Chapter 25. Fidelity Guarantee Insurance an Property Insurance
Fidelity Guarantee Insurance
Property Insurance
Review Questions
Chapter 26. Legal Framework of Insurance
Indian Insurance Act, 1938
Life Insurance Corporation Act 1956
Essential Features
General Insurance Business (Nationalisation) Act, 1972
Consumer Protection Act, 1986
The Insurance Ombudsman
Marine Insurance Act, 1963
Review Questions
Chapter 27. Insurance Regulatory and Development Authority (IRDA)
Introduction
Insurance Regulations
Excerpts from Insurance Regulatory and Development Authority (Appointed Actuary) Regulations, 2000
Excerpts From Insurance Regulatory and Development Authority (Actuarial Report and Abstract) Regulations, 2000
Excerpts from Insurance Regulatory and Development Authority (Assets, Liabilities and Solvency Margin of Insurers) Regulations, 2000
Valuation of Liabilities – Life Insurance
Review Questions
Chapter 28. Role of Actuary in Insurance Business
Definition of an Actuary
Appointment of an Actuary
Functions of an Actuary
Duties of an Actuary in Life Insurance Business
Functions of an Actuary in General Insurance Business
Scope of an Actuary
Review Questions
Chapter 29. Major Players in Indian Insurance Industry
Introduction
Life Insurers
Non–Life Insurers
Review Questions
Chapter 30. Risk Management: Conceptual Overview
Introduction
Causes of Risks
Dangers of Uncontrolled Risks
Characteristics of Insurable Risks
Classification of Risk
Review Questions
Bibliography
Index
Dr. P. Periasamy is a postgraduate in management and holds a doctorate in the area of international marketing. He is currently Associate Professor in the Department of Business Management, Erode Arts and Science College (Autonomous), Erode, Tamil Nadu. He has more than 20 years of teaching and research experience. He has contributed innumerable research papers published in various reputed journals and has authored the books, Principles and Practice of Insurance, Question Bank in Management Studies, Working Capital Management: Theory and Practice, A Text Book of Financial, Cost and Management Accounting, Financial Management and Risk and Insurance Management.
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Description
This book comprehensively covers Insurance and its elements. Designed as per the syllabus for various Indian Universities, the book provides an elaborate treatment to the conceptual framework of Insurance.
Table of contents
Cover
Title Page
Copyright Page
Contents at a Glance
Contents
Preface
Chapter 1. Nature of Insurance Business
Meaning and Definition of Insurance
Main Features of an Insurance Contract
Characteristics of Insurance Contract
Functions of Insurance
Importance of Insurance
Benefits of Insurance
Kinds of Insurance Organizations
Role of Insurance in the Development of Commerce and Industry
Scope of Insurance Business
Review Questions
Chapter 2. Re-Insurance and Double Insurance Business
Re-insurance
Characteristics of Re-insurance
Types of Re-insurance
Double Insurance
Over Insurance
External Insurance and Internal Insurance
Review Questions
Chapter 3. Classification of Insurance
Introduction
Broad Categories of Insurance
Classification on the Basis of Practical Point of View
Types of Insurance
Review Questions
Chapter 4. Principles and Documents of Insurance Contract
Introduction
Essential Elements of a Contract of Insurance
Insurance Documents
Review Questions
Chapter 5. Introduction to Life Insurance Business
Life Insurance
Essential Features of Life Insurance
Procedure for Effecting Life Insurance
Review Questions
Chapter 6. Classification of Life Insurance Policies
Life Insurance Policies
Classification of Policies
Shopkeepers Insurance Policy
Review Questions
Chapter 7. Assignment and Nomination of Life Policies
Assignment
Nomination of Life Policy
Review Questions
Chapter 8. Life Insurance Corporation of India (LIC)
Introduction
Life Insurance Administration
Role of LIC in National Economy
Investment of Funds
Progress of Life Business of LIC
Review Questions
Chapter 9. Marketing of Life Insurance Business
Introduction
Concept of Insurance Market
Characteristics of Life Insurance Services
Life Insurance Marketing Mix
4 C’s of LIC Marketing
Customer Relationship Marketing in Insurance (CRM)
Scope of Life Insurance Marketing
Review Questions
Chapter 10. LIC and Financial Services
Advances against Life Insurance Policies
LIC Housing Finance Limited
LIC Mutual Funds
Types of LIC Mutual Funds
Factors which Determine the Mutual Funds
Information Technology In LIC
Review Questions
Chapter 11. Role of Development Officer
Introduction
Importance of Development Officer
Duties of Development Officer
Qualities of a Successful Development Officer
Review Questions
Chapter 12. Role of Insurance in Termediaries
Introduction
Insurance Brokers
Corporate Insurance Agents
Essential Qualities Required for a Successful Agent
Review Questions
Chapter 13. Bancassurance
Meaning of Bancassurance
Origin of Bancassurance
Types of Bancassurance
Benefits of Bancassurance
Distribution Channels of Bancassurance
Guidelines for Bancassurance
Challenges for Bancassurance
Review Questions
Chapter 14. General Insurance Business and Role of GIC of India
General Insurance in India
General Insurance Business (Nationalisation) Act 1972
General Insurance Corporation of India (GIC)
The Changing Scenario of General Insurance Business
Review Questions
Chapter 15. Nature of Marine Insurance Contract
Introduction
Contents of Marine Policy
Essential Elements of Marine Insurance
Double Insurance in Marine Insurance
Re-insurance in Marine Insurance Scheme
Mutual Insurance in Marine Insurance
Procedure for Taking Out a Marine Policy
Review Questions
Chapter 16. Marine Insurance Policies and Important Clauses
Marine Policy
Kinds of Marine Policies
Important Clauses in Marine Policy
Review Questions
Chapter 17. Marine Losses and Abandonment
Introduction
Kinds of Marine Losses
Total loss
Abandonment
Partial Loss
Rights of Insurer on Payments
Review Questions
Chapter 18. Nature of Fire Insurance Contract
Introduction
Fire
Subject Matter of Fire Insurance
Features of Fire Insurance
Fundamental Principles of Fire Insurance
Fire Policy
Procedure for Taking Fire Insurance Policy
Review Questions
Chapter 19. Types of Fire Insurance Policies
Common Policies in Fire Insurance
Double Insurance in Fire Insurance
Re-insurance in Fire Insurance
Assignment of Fire Policy
Payment of Claims
Average Clause in Fire Policy
Rights of the Insurer
Review QuestionsCHAPTER 20 FIRE INSURANCE CLAIMS
Chapter 20. Fire Insurance Claims
Introduction
Procedure for Fire Insurance Claim
Types of Losses due to Fire
Review Questions
Chapter 21. Motor Vehicle, Personal Accident, Pedal Cycle and Plate Glass Insurance
Motor Vehicle Insurance
Personal Accident Insurance
Pedal Cycle Insurance
Plate Glass Insurance
Review QuestionsCHAPTER 22 HEALTH INSURANCE AND STUDENT SAFETY INSURANCE
Chapter 22. Health Insurance and Student Safety InsurAnce
Chapter 25. Fidelity Guarantee Insurance an Property Insurance
Fidelity Guarantee Insurance
Property Insurance
Review Questions
Chapter 26. Legal Framework of Insurance
Indian Insurance Act, 1938
Life Insurance Corporation Act 1956
Essential Features
General Insurance Business (Nationalisation) Act, 1972
Consumer Protection Act, 1986
The Insurance Ombudsman
Marine Insurance Act, 1963
Review Questions
Chapter 27. Insurance Regulatory and Development Authority (IRDA)
Introduction
Insurance Regulations
Excerpts from Insurance Regulatory and Development Authority (Appointed Actuary) Regulations, 2000
Excerpts From Insurance Regulatory and Development Authority (Actuarial Report and Abstract) Regulations, 2000
Excerpts from Insurance Regulatory and Development Authority (Assets, Liabilities and Solvency Margin of Insurers) Regulations, 2000
Valuation of Liabilities – Life Insurance
Review Questions
Chapter 28. Role of Actuary in Insurance Business
Definition of an Actuary
Appointment of an Actuary
Functions of an Actuary
Duties of an Actuary in Life Insurance Business
Functions of an Actuary in General Insurance Business
Scope of an Actuary
Review Questions
Chapter 29. Major Players in Indian Insurance Industry
Introduction
Life Insurers
Non–Life Insurers
Review Questions
Chapter 30. Risk Management: Conceptual Overview
Introduction
Causes of Risks
Dangers of Uncontrolled Risks
Characteristics of Insurable Risks
Classification of Risk
Review Questions
Bibliography
Index
Biographical note
Dr. P. Periasamy is a postgraduate in management and holds a doctorate in the area of international marketing. He is currently Associate Professor in the Department of Business Management, Erode Arts and Science College (Autonomous), Erode, Tamil Nadu. He has more than 20 years of teaching and research experience. He has contributed innumerable research papers published in various reputed journals and has authored the books, Principles and Practice of Insurance, Question Bank in Management Studies, Working Capital Management: Theory and Practice, A Text Book of Financial, Cost and Management Accounting, Financial Management and Risk and Insurance Management.
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