4.120 insurance final

8/12/2019 4.120 Insurance Final

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AC29/4/2013

Itemno.4.120

S.Y.B.Com

PrinciplesandPracticeofInsurance

Objectives

1.Tohaveacomprehensiveunderstandingofinsuranceindustrywithkey inputs

2.Tounderstandinsuranceasanintegralpartoffinance.3.Tolearnabouttheimportanceofinsurance,andalsobasic

insuranceconcepts.

4.Toacquaintthestudentswithriskmanagementprocessandhowtheinsuranceindustryoperates.

SEMESTERIII

Unit1Introductiontoinsurance

Insurance DefinitionandbasicconceptsNeedforandImportanceofinsurance

NatureofinsuranceBenefitsofInsurance OriginandDevelopmentofInsurance

PrinciplesofinsuranceUtmostgoodFaith Insurableinterest indemnity Contribution

SubrogationProximatecauseReinsurancePurposeandTypesofReinsuranceDoubleinsurance

(15)

Unit2Riskmanagement

Concept of riskRisk v/s uncertaintyTypes of risksPure and Speculative risksInternal and

External risksFundamental and Particular risksStatic and Dynamic risksInsurable and Non


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insurable risksobjectives and Importance of risk management Risk management process

MethodsofhandlingrisksRiskidentification (15)

Unit3Life Insurance

Classificationof

Insurance

Life

insurance

Origin

and

Development

of

life

insurance

Features

of

lifeinsurancecontractAdvantagesoflifeinsuranceTypesofLifeinsuranceplansWholelife

insuranceTerm insuranceEndowment and Money Back policiesUnit linked insurance plan

Children plansGroup life insuranceAnnuities and PensionsRidersCalculation of premium

Surrendervalueandpaidupvalueofpolicy. (8)

Unit4GeneralInsurance

General insuranceEssentials of General insurance contractRole of General insurance in

Economic a development Fire insurancePrinciples of fire insuranceTypes of fire insurance

policiesMarine insuranceScope of marine insurancePrinciples of Marine insuranceMarine

insurance policiesMotor insuranceKinds of motor vehicle insurance policies Health

insuranceTypes of health insurance policiesSocial insurance Crop insuranceBurglary

insuranceEngineeringinsurance. (7)

SEMESTER

IV

Unit4Legalframework

Indian Contract Act 1872Essential elements of a valid contractInsurance Act 1938

RegistrationNomination and AssignmentLIC Act 1956Functions of CorporationGeneral

Insurance Business(Nationalisation)Act 1972 Objectives of the ActFunctions of GIC IRDA Act

1999Powers and functions of IRDAConsumer Protection ActInsurance Ombudsman

SchemeTypesofinsuranceorganizations (12)

Unit5ChannelsofDistribution

InsuranceintermediariesAgentsFunctionsofAgentsProcedureforbecominganagent


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BrokersFunctionsofBrokerDifferencebetweenInsuranceAgentandanInsuranceBroker

CorporateAgentsBancassuranceAdvantagesofBancassurance BancassuranceModels

BancassuranceinIndia EmarketingOFINSURANCE. (12)

Unit

6

Policy

servicing

and

claims

settlement

ProcedureforobtainingpolicyinlifeandGeneralinsurance ClaimsettlementprocedureInlife

insurance,FireinsuranceandMotorinsurance MaturityclaimsinlifeinsuranceUnderwriting

Purposes of underwritingThe underwriting processTypes of underwritersRole of Actuary

DutiesofanActuary (11)

Unit7IndianInsuranceIndustry:Transitionandprospects

ReformsintheIndianInsurancesectorMalhotracommitteePositiveandnegativeimpactsof

liberalization on the insurance industryPrivatisation of Insurance sector Micro insurance

Modelsof

micro

insuranceCase

studies

in

Insurance.

(10)

Books for Reference: ---

1. Modern concepts of InsuranceM.N. Mishra-S.Chand and Co. Ltd2. Elements of Banking and Insurance- Jyotsna Sethi & Nishwan Bhatia3. Insurance-Fundamentals, Environment and Procedures-B.S.Bodla, M.C. Garg ,

K.P.SinghDeep and Deep Publications Pvt Ltd.4. Risk Management & Insurance- Concepts and Practices of Life and General Insurance-S.

Arunajatesan & T.R. Viswanathan

5. Insurance Theory and practiceN.K. SharmaDND Publications6. Insurance-Principles and PracticesM.J. Mathew-Jaico Publishers

QuestionPaperPattern

Semester3

40MARKS Internal

60MARKS SemesterEndExam:TWOHours

AllQuestionsarecompulsory


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Figurestotherightindicatemarks.

Maximummarks60.Duration:2hrs.

Q1.Answerany2fromthefollowing: Marks 15

a.b.c.Module

1


a.b.c.Module2


a.b.c.Module3


a.b.cModule4

Semester4

40MARKS Internal

60MARKS SemesterEndExam:TWOHours

AllQuestionsarecompulsory

Figurestotherightindicatemarks.

Maximummarks60.Duration:2hrs.


a.b.c.Module5

Q2.Answerany2fromthefollowing: marks 15

a.b.c.Module6


a.b.c.Module

7


a.b.c. Module8


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4.120 insurance final

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