Risk and uncertainty are incidental to life. Man may meet an ultimately death. He may suffer from accident, destruction of property, fire, sea perils, floods, earthquakes and other natural calamities. Whenever there is uncertainty, there is a risk as well as insecurity. It is to provide against risk and insecurity that insurance.
Came into being. Insurance does not avert or eliminate loss arising from uncertain events; it only spreads the loss over a large number of people who insure themselves against that risk, the main principle underlying insurance is pooling the risks. It is thus a co-operative device to spread the loss caused by a risk over a large number of persons who are also exposed to the same risk and insure themselves against the risk.
Elements of Insurance
a) Contract of Insurance
A contact of insurance is a contract by which a person in consideration of a sum of money undertakes to make good the loss of another against a specified risk.
b) Insurer and Insured.
The person undertaking the risk is called the insurer, assurer or underwriter and the person whose loss is to be made good is called insured or assured.
c) Policy
The instrument in which the contract of insurance is generally embodied is called policy. The policy is not a contract; it is the evidence of contract.
d) Premium
e) Subject Matter of Insurance
The thing or property insured is called Subject Ma The consideration for which the insurer undertakes to indemnify the assured against the risk is called premium.
f) Perils Insured Against
That which is insured is the loss arising from uncertain events or causalities.
Contents:
Chapter -1: Introduction
1. Elements Of Insurance
2. Types Of Insurance
3. Advantages Of Insurance
4. Disadvantages
Chapter -2: Industry Profile
1. Insurance Sector In India
2. Different Players In Life Insurance Industry
3. Private Insurers Share Over Two Years
4. Structure Of An Insurance Company
Chapter -3: Company Profile
1. HDFC
2. Old Mutual
3. Products
4. HDFC Bank
5. ICICI Prudential
6. Products
Chapter-4: Management
1. Objectives
2. Methodology
3. Method Of Data Collection
4. Data Analysis
Chapter -5: Data Analysis & Interpretation
1. Table: Presentation Of Data
2. Graphical Representation Of Data
3. Interpretations
Chapter -6: Summary
1. Findings
2. Suggestions
3. Conclusion