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on receipt of a claim intimation the first step Is to verify that the policy is in force, the perils covered under  the policy are the same as the perils under which the loss Is reported. there after the claim is registered and a claim number allotted. this number is used in all future correspo
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sonali
Name10-Jun-2015
Name654
Name
0

  HYDERABAD, MAY 31:   The gross premium underwritten by non-life insurers increased 6.73 per cent to Rs 8,421 crore in April 2014 compared with Rs 7,890 crore in the year-ago period. According to the monthly business figures released by the Insurance Regulatory and Development Autho
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Engg. Ashok Khurana
Name31-May-2014
Name910
Name
0

  Following the launch of insurance repository system last year, the Insurance Regulatory and Development Authority (IRDA) has asked insurers to tie-up with all repositories so that policyholders can maintain their policy in digital form. The move will make the procedure more custome
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Engg Dijo Mathew
Name23-May-2014
Name851
Name
0

Internet is the buzz word these days. It is the virtual world where one can shop, meet people, find a job, play games and what not! Indians are one of the largest users of Facebook; we are also witnessing a ferocious growth of e-commerce market which is active with mergers and acquisitions. These a
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Engg Dijo Mathew
Name17-May-2014
Name979
Name
0

Non-Life

Corner

Cyber Crimes Cybercrime means any criminal activity in which a computer or network is the source, tool or target or place of crime. Cyber crime are commited with the use of computers or relating to computers, especially through internet . Computer crime, or Cybercrime, refers to any crime
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Varun
Name12-May-2014
Name723
Name
0

In India, recently an outsourcing firm EXL services, lost  a key client due to confidential client data breach. Some company  employees shared a procedural document externally in violation of the company’s strict client confidentially  policies, resulting in  the US 
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CA. Sanjeev Soni
Name12-Apr-2014
Name674
Name
0

Freight movement involves transportation of goods via sea, air and land. It is not uncommon to witness accidents that result in the destruction of precious goods worth millions of Dollars. As a transport liability insurance specialist, Risk Management provides comprehensive liability insurance
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Varun
Name02-Apr-2014
Name748
Name
0

Mint Money reviews financial products, including life insurance policies, in the Product Crack section. The changing regulatory regime in life insurance has thrown up changing products, which on review we found to be an exercise to circumvent regulations rather than any real change in intent.
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Engg Dijo Mathew
Name01-Apr-2014
Name679
Name
0

If someone wants an insurance company to insure a property or some other asset, one of the insurance professionals with whom he may come in contact is the insurance surveyor. The surveyor collects data on insurable properties and makes recommendations that are used to determine whether the item shou
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Engg. Ashok Khurana
Name07-Mar-2014
Name1208
Name
0

1. Find a A or B category Insurance Surveyor(Practicing) in your City. 2. You will have to undergo training under the Surveyor for a period of 12 months. 3. Submit the  Form III to IRDA within a fortnight of enrollment with the Surveyor. ( Download Form III ) - For downloading
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Engg. Ashok Khurana
Name07-Mar-2014
Name808
Name
0

1. Find a A or B category Insurance Surveyor(Practicing) in your City. 2. You will have to undergo training under the Surveyor for a period of 12 months. 3. Submit the  Form III to IRDA within a fortnight of enrollment with the Surveyor. ( Download Form III ) - For downloading
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Engg. Ashok Khurana
Name07-Mar-2014
Name695
Name
0

You already have a demat trading account. Now you can it's time to dematerialize your insurance portfolio as well. Launched by Irda a few months ago, the Insurance Repository System (IRS) allows you to hold insurance plans in an e-insurance account with an insurance
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Engg. Ashok Khurana
Name04-Mar-2014
Name740
Name
0

  Increase your deductible     You can reduce your auto insurance premium by increasing the deductible component, which is the amount you pay from your pocket when you make a claim. However, don't go overboard and pay only as much as you can afford. If you end up paying a la
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sonali
Name04-Mar-2014
Name732
Name
0

Human life is exposed to many risks, which may result in heavy financial losses.  Insurance is one of the devices by which risks may be reduced or eliminated in exchange for premium. ?Insurance is a contract in which a sum of money is paid by the assured in consideration of the insurer's in
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Engg Dijo Mathew
Name06-Jan-2014
Name943
Name
0

  A non-life insurance contract is different from a life insurance contract. A life insurance contract is a long term contract, while general insurance contract is a one-year renewable contract. The risk namely ‘death’ is certain in life insurance. The only uncertainty is as to when
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Engg Dijo Mathew
Name04-Jan-2014
Name767
Name
0

A non-life insurance contract is different from a life insurance contract. A life insurance contract is a long term contract, while general insurance contract is a one-year renewable contract. The risk namely ‘death’ is certain in life insurance. The only uncertainty is as to when it wil
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Engg Dijo Mathew
Name31-Dec-2013
Name824
Name
0

  Miscellaneous Insurance refers to contracts of insurance other than those of Life, Fire and Marine insurance. It covers a variety of risks, the chief of which are:- Personal Accident insurance Personal Accident insurance is insurance for individuals or groups of pers
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Engg Dijo Mathew
Name21-Dec-2013
Name797
Name
0

General Insurance comprises of insurance of property against fire, burglary etc, personal insurance such as Accident andHealth Insurance, and liability insurance which covers legal liabilities. Suitable general Insurance covers are necessary forever family. It is important to protect one’s pro
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Engg. Ashok Khurana
Name17-Dec-2013
Name1496
Name
0

  The policy known as deterioration of stock insurance or stock spoilage insurance is a form of consequential loss cover granted in the engineering department for stocks contained in large cold stores. The cover is against the risk of deterioration and contamination following breakdown of the r
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Varun
Name26-Nov-2013
Name843
Name
0

From time immoral the human efforts have always been aimed at utilizing all available resources to de more and more work. Man invented a number of machines to convert the energy available form natural resources into mechanical work for useful purpose. Energy available in nature can be form a large o
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CA. Sanjeev Soni
Name25-Nov-2013
Name690
Name
0

STATIC ELECTRICITY All matter is built up of particles called portion and electrons and each of such particles carry a definite amount of electricity. The electrical charges on protons are positive those on electrons are negative. For a piece of matter to be neutral there must be an negative. Experi
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Engg Dijo Mathew
Name22-Nov-2013
Name673
Name
0

Non-Life

Corner

The practice of motor insurance is influenced to a large extent by the motor vehicles act 1939 . this act makes provision for various matters relating to the use maintenance and operation for various matters relating to the use, maintenance and operation of motor vehicles. Among other things the act
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Engg Dijo Mathew
Name19-Nov-2013
Name918
Name
0

Non-Life

Corner

The special perils are added to the fire policy by way of extension endorsement. These perils may be classified into four categories. 1)      Political perils: terrorist cover 2)      Perils of nature: flood , inundation. Earthquake etc 3)  
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sonali
Name16-Oct-2013
Name877
Name
0

The common law applied by the India courts is based on the English common law. which is a body of law consisting of past legal decisions, customs and usages. public liability insurance is concerned with the liabilities of the insured which liabilities arise mainly under the law of torts which forms
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sonali
Name15-Oct-2013
Name862
Name
0

RISK MANAGEMENT Risk management as a discipline adopts the business practices necessary to manage operational risk exposures through safety and loss prevention programs, and combines this with strategies to finance losses involving property, liability and worker injuries. This document establishes i
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Engg Dijo Mathew
Name11-Oct-2013
Name882
Name
0

  CLAIMS broadly speaking liability insurance are concerned with accidents causing death or bodily injury to employees or third parties or property damage of third parties. public liability and products liability insurances are concerned with both bodily injury and property damage of third part
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Engg Dijo Mathew
Name09-Oct-2013
Name887
Name
0

the principle of vicarious liability the employers . the employer is also liable at law towards the employees to pay compensation in respect of injury of disease arising out of and in the course of employment. the employers legal liability for employment accidents arises as follows. personal ne
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sonali
Name09-Oct-2013
Name900
Name
0

RSBY the most popular government sponsored health insurance scheme for  the poor was started on 1 April 2008 under the scheme a member of a BPL family working in unorganized sector and his family up to five members would get cashless heal the care  insurance benefits of rs 30000 per year.
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Naveen
Name09-Oct-2013
Name1010
Name
0

professional indemnities are designed ti provide insurance protection to professional people such as doctors, solicitors, chartered accountants, against their legal liability to pay damages arising out of negligence in the performance of their professional duties.   For the purpose of this poli
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CA. Sanjeev Soni
Name08-Oct-2013
Name1785
Name
0

on receipt of a claim intimation the first step Is to verify that the policy is in force, the perils covered under  the policy are the same as the perils under which the loss Is reported. there after the claim is registered and a claim number allotted. this number is used in all future correspo
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Varun
Name07-Oct-2013
Name935
Name
0

Whereas the Insured named in the Schedule hereto has made a proposal to Future General India Insurance Company Ltd (hereinafter referred to as the “Company”) which is hereby agreed to be the basis of this Policy and has paid the premium specified in the Schedule, the Company agrees, subj
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CA. Sanjeev Soni
Name07-Oct-2013
Name855
Name
0

  OPERATIVE CLAUSE Upon receipt of written proposal & declaration along with premium from the Insured (as named in the Schedule), SBI General Insurance Company Limited (hereafter referred to as “the Company”) agrees to indemnify the Insured as per the indemnity clause contained
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CA. Sanjeev Soni
Name07-Oct-2013
Name864
Name
0

Non-Life

Corner

  The term underwriting is broadly used denote the principle and practices concerning the fixing of rates the acceptance or rejection of the risks the total amount of acceptance, the ultimate objects are ,the production of a large volume of premium income sufficient to maintain and progressive
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sonali
Name30-Sep-2013
Name890
Name
0

  The purpose of insurance as an effective mechanism of protection will loose itsmeaning if the insurance policies do notrespond in full measure in case of claimsbecause of inadequacies in scope of coverage and sum insured. There is thereforea need to properly understand the relation between t
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CA. Sanjeev Soni
Name24-Sep-2013
Name816
Name
0

 Any analysis of marine insurance claims involves answers to questions of cause of loss or damage and quantification which means assessment of loss or damage and quantification, which means assessment of loss or damage which constitutes the claim. if the cargo or part it is lost or missing evi
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CA. Sanjeev Soni
Name21-Sep-2013
Name941
Name
0

                    Insurance fraud may be classified as “hard” or “soft.” Hard fraud is a deliberate attempt either to stage or invent an accident, injury, theft, arson or other type of loss that would be covered under a
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Engg Dijo Mathew
Name20-Sep-2013
Name842
Name
0

in order to enhance penetration of crop insurance in India, Insurance Regulatory and Development Authority (IRDA) has allowed Agriculture Insurance Company of India (AIC) to use the agent network of other non-life insurers. On 12th September, IRDA said that AIC can distribute its own products
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Engg Dijo Mathew
Name20-Sep-2013
Name835
Name
0

This insurance provides coverage against pecuniary loss as a result of fire and its insured perils covered under the fire policy. This insurance must be taken up together with the fire (material damage) policy. The insurable amount of gross profit, as it is understood, is made up of net profit plus
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Varun
Name20-Sep-2013
Name1474
Name
0

The situation is no different in cargo insurance. When cargo is lost or damaged through the fault of a third party, the owner of the cargo has an initial choice to make which is whether to claim on the insurance or to make a claim on the wrongdoer. Depending on the choice, either the owners, or the
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sonali
Name18-Sep-2013
Name1052
Name
0

general average is a system of making good maritime losses voluntarily incurred for the safety of the common adventure and its founded on the principle od equity . GA is distinct from marine insurance and originated much before marine insurance. as the originators but however has the earliest known
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sonali
Name17-Sep-2013
Name916
Name
0

The term money as used in this policy is deemed to mean bank notes, bullion , coins, currency, jewelry, precious stones, ornaments pledged with the insured, postage and revenue stamps and stamps papers. the term ‘employee’ is deemed to mean all existing employees whether permanent or tem
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Engg Dijo Mathew
Name16-Sep-2013
Name867
Name
0

That subject to and in consideration of the Insured having paid to the Company, the premium mentioned in the said Schedule and subject to the terms, exclusions, provisions and conditions contained herein or endorsed here on the Company will indemnify the Insured against loss of: Money in transit, ca
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sonali
Name12-Sep-2013
Name856
Name
0

The law laid down by the supreme court of India is binding on all the courts and tribunals with in the territories of India, by virtue of article 142 of the Indian constitution ., the same assumes greater importance for the non life insurers in India so as to shape their business. one of the product
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CA. Sanjeev Soni
Name04-Sep-2013
Name867
Name
0

The law laid down by the supreme court of India is binding on all the courts and tribunals with in the territories of India, by virtue of article 142 of the Indian constitution ., the same assumes greater importance for the non life insurers in India so as to shape their business. one of the product
Continue Reading...

CA. Sanjeev Soni
Name04-Sep-2013
Name914
Name
0

The law laid down by the supreme court of India is binding on all the courts and tribunals with in the territories of India, by virtue of article 142 of the Indian constitution ., the same assumes greater importance for the non life insurers in India so as to shape their business. one of the product
Continue Reading...

CA. Sanjeev Soni
Name04-Sep-2013
Name791
Name
0

  RISK MANAGEMENT   Risk Management is the process of identifying, analyzing and responding to risk factors throughout the life of a project and in the best interests of its objectives. Proper risk management implies control of possible future events and is proactive rath
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sonali
Name02-Sep-2013
Name839
Name
0

DISASTER IN INDIA   A disaster is an extreme disruption  of the functioning of a society that causes widespread human, material, or environmental losses that exceed the ability of the affected society to cope with its own resources. Disasters are sometimes classified according to whether
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Engg Dijo Mathew
Name31-Aug-2013
Name817
Name
0

THE PRIORITIES OF ISURANCE INSTITUTE OF INDIA Ø  There are 91 associated institutes of insurance institute of India is an urgent need to rejuvenating these institutes so that they may work as local chapters of a professional body. the associated institutes must become a centre for spread
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Engg Dijo Mathew
Name31-Aug-2013
Name1021
Name
0

  History The Institute is a professional body serving the cause of the Insurance Industry. The Institute conducts examinations at three levels: Licentiate, Associate ship and Fellowship as also examinations – Certificate in Foundations of Casualty Actuarial Science (General Insurance) an
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sonali
Name30-Aug-2013
Name944
Name
0

NO DIFFERENCE IN CLIENT SERVICING The online customers receive the same quality of service from the insurance company as any other client . agents try and paint a different picture because they lose business . the difference is only in the channel through which the policy has been bought. when a cus
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Engg Dijo Mathew
Name29-Aug-2013
Name729
Name
0

INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY ACT, 1999 The authority shall consist of the chairperson, and not more than five whole time members, the chairperson and every other whole-time member shall hold office for a term of five years from the data on which he enters upon his office and shall
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CA. Sanjeev Soni
Name21-Aug-2013
Name961
Name
0

Non-Life

Corner

The insurance regulatory and development authority (IRDA) was constituted as an autonomous body to regulate and develop the business of insurance the authority was constituted on 19th April, 2000 vide government of India’s notification no. 277. the key objective of the authority is to promote
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Engg Dijo Mathew
Name19-Aug-2013
Name1061
Name
0

1)      T S Vijayan, Chairman CHAIRMAN chairman@irda.gov.in   2)      Profile of Mr. M Ramaprasad MEMBER (NON LIFE) srinivasan@irda.gov.in   3)      Mr. Sudhin Roy Chowdhury  MEMBER (LIFE) gprabhakara@irda.gov.
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Engg Dijo Mathew
Name19-Aug-2013
Name1038
Name
0

The general insurance council is a statutory body under the Indian insurance Act 1938. The council speaks out on issues of common interest; participates in discussions related to policy formation , the general insurance council represents the collective interests of the non-life insurance companies
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Engg. Ashok Khurana
Name19-Aug-2013
Name1067
Name
0

ACCEPTANCE The reception of something by another with the intention of retainment as indicated by the action of the receiver. ACTUARY A person trained in mathematics whose job is to apply the theory of probability to the business of insurance and advise in situations involving probability. ADVANCE P
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Varun
Name17-Aug-2013
Name746
Name
0

advent of life insurance business. India with the establishment of the orient life insurance company in Calcutta. the madras equitable had begun transacting life insurance business in the madras presidency. 1870 saw the enactment of the British insurance act and in the last three decades of the nine
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Varun
Name16-Aug-2013
Name2365
Name
0

Insurance Insurance is a legal contract between two parties whereby one parties whereby one party called insurer/underwriter undertakes a fixed amount of liability on the happening of a certain event. Define Contract of insurance. Insurance contract may be defined as an agreement between
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Engg Dijo Mathew
Name16-Aug-2013
Name833
Name
0

Business firms often experience an indirect loss as a result of a physical damage loss to covered property, such as the loss of profits, rents, or extra expenses during the period of restoration, two basic ISO forms are used to insure business income losses; BUSINESS INCOME COVERAGE FORM- The b
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sonali
Name14-Aug-2013
Name871
Name
0

PRODUCTS LIABILITY Products liability refers to the legal liability of manufactures, wholesalers, and retailers to persons who are injured or incur property damage from defective products. Firms can be successfully sued on the basis of negligence, breach of warranty, and strict liability. COMPL
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Engg Dijo Mathew
Name14-Aug-2013
Name793
Name
0

“Protecting the company assets in the event of a loss is a key function of the risk manager’s job commercial property insurance is the primary technique for financing the risks associated with damage or destruction of these assets.” ISO COMMERCIAL PROPERTY PROGRAM The insurance ser
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Engg Dijo Mathew
Name14-Aug-2013
Name961
Name
0

Despite their complexities, insurance contracts generally can be divided into the some six parts. Although all insurance contracts do not necessarily contain all six parts in the order given here, such a classification provides a simple and convenient framework for analyzing most insurance contracts
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CA. Sanjeev Soni
Name12-Aug-2013
Name9453
Name
0

It is unfair to believe everything we hear about lawyers some of it may not be true. this article discusses the fundamental legal principles on which insurance contracts are based , legal requirement for a valid insurance contract, and legal  characteristic of insurance contracts that distingui
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Engg Dijo Mathew
Name12-Aug-2013
Name2287
Name
0

The most important insurance company operations consist of the following: Insurance also engage in other operations, such as accounting, legal services, loss control, and data processing. the sections that follow discuss each of these functional areas in some detail. § RATE MAKING-&nbs
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Varun
Name10-Aug-2013
Name1110
Name
0

Risk management was limited in scope to pure loss exposures, including property risks, liability risks, and personnel risks.  some business have gone a step further, expanding their risk management programs to consider all risks faced by the organization. FINANCIAL RISK MANAGEMENT Its refers to
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Varun
Name09-Aug-2013
Name2019
Name
0

General Insurance Surveyors, also referred to as Surveyor & Loss Assessors, or SLA in short, are qualified, licensed & independent professionals.   The Surveyor & Loss Assessor's license is granted by Insurance Regulatory & Development Authority (IRDA
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sonali
Name09-Aug-2013
Name3518
Name
0

The state directorate for agriculture and food production, which has been appointed as the nodal agency for implementing the farmers' insurance scheme under the Biju Krushak Kalyan Yojna, will float a tender by the end of this month to select the service provider for the scheme, estimated to cos
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Engg Dijo Mathew
Name08-Aug-2013
Name810
Name
0

RISK MANAGEMENT- “The essence of risk management lies in maximizing the areas where we have some control over the outcome while minimizing the areas where we have absolutely no control over the outcome…” It is the process that identifies loss exposures faced by an organization and
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Engg. Ashok Khurana
Name08-Aug-2013
Name1136
Name
0

DEFINATION OF INSURANCE There is no single definition of insurance. Insurance can be defined from the viewpoint of several disciplines, including law, economics, history, actuarial science, risk theory and sociology. Insurance is the pooling of fortuitous losses by transfer of such risks to insurers
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Varun
Name07-Aug-2013
Name1319
Name
0

RISK Risk traditionally has been defined in terms of uncertainty. uncertainty concerning the occurrence of a loss. for eg:- the risk of lung cancer for smokers is present because uncertainty is present. some authors make a careful distinction between objective and subjective risk. 1)OBJECTIVE RISK-
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sonali
Name06-Aug-2013
Name982
Name
0

There has never been a time when the effective use of IT has been more crucial to the success of the insurance industry. The insurance markets are being revolutionised by technology at a high speed pace. IT and software solutions, allowing cross-border trade to become electronic and paperless, are
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Engg Dijo Mathew
Name25-Jun-2013
Name937
Name
0

Early Days of Computerisation In the late 1950s, when the benefits of commercial data processing were being realised, the insurance industry was one of the first to take to business automation. At that time, the objective was still to automise boring, repetitive and labour intensive accounting t
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Engg Dijo Mathew
Name25-Jun-2013
Name887
Name
0

Insurance marketing has some unique features. It has to identify uncertainties in the operations of an economic system and create general awareness to cover these uncertainties by selling insurance products to the constituents of this economic system. The constituents of this system essentially th
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Engg Dijo Mathew
Name25-Jun-2013
Name1022
Name
0

Prior to the nationalisation of Insurance business in 1972, there were 106 companies, including the branches of foreign insurance companies, operating in India. They provided a kind of service restricted mainly to trade, commerce and industry. Besides, they were also providing the requirements of
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Engg Dijo Mathew
Name24-Jun-2013
Name952
Name
0

The present paper attempts to review the growth of general insurance in India over a period of time, examine its distinguishing features, trace its growth in different class of business, review claim experience and analyse its potential over a period of time, in a competitive environment. The pa
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Engg Dijo Mathew
Name24-Jun-2013
Name699
Name
0
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