The Business of Insurance – Managing Risk Retention – Life Insurance – Managing Insurance – Funds of An Insurer – Trustee- Reinsurance – Role of Insurance in Economic Development – Insurance and Social Security.
The Insurance Contract – Utmost Good Faith or Uberrima Fides – Insurable Interest – Insurer‘s Insurable Interest – Criminal Acts – Indemnity – Subrogation and Contribution – Proximate Cause – Personal and Non-Personal Contracts.
Insurance Products – Life Insurance Products, Non-Life Insurance – Fire – Loss of Profits – Marine – Marine Cargo – Marine Hull – Motor – Miscellaneous – Personal Accident – Health – Liability – Engineering – Aviation Etc.
Insurance Terminology – Common For Both Life and Non-Life Insurance –Life Insurance – First Premium – Renewal – Mode – Limited Payment – Policies – Single Premium – Convertible – Days of Grace – Lapse – Paid Up Policy – Revival – Deferment Period – Nomination – Assignment – Bonus – With Profit – Participating – Non-Participating or Without Profit – Surrender Value
Non-Life Insurance – Market Agreements – Cover Notes – Certificates of Insurance – Open Policy – Floater – Excess – Franchise – Claims – Salvage – Coinsurance – Loss – Total Loss – Actual or Constructive Loss – Bonus – Malus – Replacement – Valued Policy – Agreed Value – Full Value – First Loss – Increased Value – Insurance Time or Institute Cargo Clauses – Solatium Fund – Hit and Run Cases – Arbitration.
The Insurance Market – Life and Non-Life Insurers – Reinsurers – Individual and Corporate Agents – Brokers – Surveyors – Medical Examiners – Third Party Administrators – Regulator IRDA – Insurance Councils – Ombudsmen – Educational Institutes – Councils – Tariff Advisory Committee.
Regulations – The Insurance Act, 1938 – Insurance Regulatory and Development Act, 1999 – Life Insurance Corporation Act, 1956 – General Insurance Business (Nationalization) Act, 1972 – Consumer Protection Act, 1986 (COPA) – Income Tax Act – Other Laws.
The Insurance Customer – Customers Are Different – Different Mind Sets, Their Satisfactions – Ethical Behavior – Risk Management – Avoidance or Prevention – Reduction – Retention – Transfer – The Techniques, Separation – Duplication Diversification – Retention and The Individual
