Introduction: Insurance is an instrument by which fatalities of a small number are remunerated out of funds gathered from plenteous. It is insurance against the financial loss incurred by a party in the future on the happening of an unexpected event. The literature concurs that insurance needs to contain both Read more…
“STRONGER REGULATION AND SUPERVISION AIMED AT PROBLEMS WITH UNDERWRITING PRACTICES AND LENDERS’ RISK MANAGEMENT WOULD HAVE BEEN A MORE EFFECTIVE AND SURGICAL APPROACH TO CONSTRAINING THE HOUSING BUBBLE THAN A GENERAL INCREASE IN INTEREST RATES” -BEN BERNANKE Introduction: Underwriting is a process which means that the lender verifies our income Read more…
Introduction: The idea of insurance has evolved over the years from the idea of ‘spreading of risk or loss’. Insurance policies protect a person from financial losses or risks and thus in a way indemnifies the loss that might be suffered or borne by a person. After the opening the Read more…
Introduction: The Insurance Ombudsman scheme was created by the Government of India for individual policyholders to have their complaints settled out of the court’s system in a cost-effective and an impartial way. The primary objectives of these rules are to resolve all the complaints. Presently there are 7 insurance ombudsman Read more…
Introduction: The idea of insurance developed and evolved from the simple idea of spreading the risk in order to mitigate the loss suffered by an individual party. This lays as a foundation for modern-day insurance, which has become interwoven into all aspects of our lives. Insurance means the transfer or Read more…
Introduction: Any industry or a company faces a lot of risks any time. Most of the risks are well defined and arise from the internal processes. A budding industry or a company generally faces increasingly fierce competition comes with increased risks. Focusing on the sales and business expansion aspects carries Read more…
Introduction: The term assignment itself means you assign something to someone else. In term life insurance, the assignment of the policy describes the action of assigning legal rights as well as policy ownership to someone else. The person who assigns the policy is known as an Assignor and the person Read more…
Introduction: An insurance policy protects a person from suffering financial loss or indemnifies the loss suffered by the person, in the events of financial losses. There a large number of participants in the insurance market moreover the general public or the policyholders find it difficult to understand and interpret the Read more…
Introduction: In the year 1818, the first insurance company was set up in Kolkata, followed by which the life insurance sector was nationalized on 1st January 1973. Later in the late 90s, the insurance sector was again reopened to the private sector. And thus, arose the need to regulate the Read more…
Introduction: The company secretaries have a very important role to play in the insurance sector. A company secretary works as a compliance officer in a particular insurance company and makes sure that regulatory and supervisory issues are being solved. The insurance industry in India has established back in the time Read more…
Introduction: Insurance in simple term can be defined as transferring or lifting of risk of an individual to a group. Individuals come together to pool in their resource in order to ensure the financial security, the fund thus raised is used to reduce the loss incurred by a party in Read more…
Introduction: Insurance means protection from financial loss which may occur in the future inevitable loss. Insurance policies are taken to mitigate the loss. Insurance can be defined as an arrangement which an insurer undertakes to provide a guaranteed compensation for loss, damage death or illness in return up to the Read more…