Tag: insurance
Finance
What is Selection of Risk or Underwriting the risk? Every life insurance company is liable to assess the risk it wishes to accept and on that basis fix a …
Insurance
Procedure involved in Death Claims in Life Insurance in India The following are the general procedure involved in final settlement for death claims in India. 1. Intimation First of …
Insurance
What is Reinsurance? When an insurer transfers a part of his risk on a particular insurance by insuring it with another insurer or other insurers, it is called “Re-insurance”. …
Insurance
What is Insurable Interest? In an Insurance Contract, the term ‘Insurable interest‘ refers to the legal right to insure arising out of a financial relationship, recognized at law, between …
Insurance
Indian insurance companies play following roles in Economic development of our country. 1. Saving and Insurance Saving involves refraining from present consumption. The investment can take place only when …
Insurance
What are Particular average Loss? Particular average loss are partial and unforeseen loss accidentally incurred by sea perils. When goods arrive at its destination, the surveyor inspects them and …
Insurance
Importance of Insurance to Society Insurance is a part and parcel of society today. It offers various advantages to the society as given below: 1. Protects society’s wealth Through …
Insurance
What is Assignment in an Insurance Policy? Assignment means a complete transfer of the ownership of the policy to some other person. Usually assignment is done for the purpose …
Insurance
Procedure for Taking out a Marine Insurance Policy The procedure involved in taking out a Marine Insurance policy is quite simple and straight forward. The intervention of an insurance …
Insurance
Rights of Insurer in a Fire Insurance Policy The following are the rights of an insurer in a fire insurance policy. Right to avoid the contract. Right of control …
