保险行业的历史与发展:从伦敦到现代保险公司.docx

保险行业的历史与发展:从伦敦到现代保险公司.docx

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Dev.Officer–MaheshShindeBranch–90ADiv-MumbaiIVD.OCode-6565

Contact–9029106565/9322669032.MumbaiDiv4Branch90A

Email–maheshshinde.lic@/mahesh03243@PagePAGE29

LifeInsuranceCorporationofIndia

IC-38

Concise

Compiler:MaheshShinde

10/5/2016

Dev.Officer–MaheshShindeBr–90ADiv–MumbaiIVDev.OfficerCode–6565Contact:9029106565/9322669032email:maheshshinde.lic@web:

SECTION1COMMONCHAPTERS

Chapter1IntroductiontoInsurance

Insurance–insimplelanguageitmeanstotransferrisktosomeonewhoiscapableofhandlingitgenerallytoinsurer(InsuranceCompany).Itisconsideredasaprocessbywhichthelossesofafew,whoareunfortunatetosuffersuchlosses,aresharedamongstmanythoseexposedtosimilaruncertainevents/situations.

Lifeinsurancehistoryandevolution:-

.TheoriginofinsurancebusinessstartedfromLondon’sLloydcoffeehouse.

.1stlifeinsurancecompanytobesetupinIndiawasTheOrientalLifeInsurancecompanyltd.

.1stNon-lifeinsurancecompanywasTritonInsurancecompanyltd.

.1stIndianinsurancecompanywasBombayMutualAssurancesocietyltd.

.NationalInsurancecompanyltd.istheoldestinsurancecompanyfoundedin1906.

Howinsuranceworks:-Theremustbeanassetwhichhaseconomicvalue(Car-physical;Goodwill-nonphysical;Eye-personal).Theseassetsmaylosevalueduetouncertainevent.Thischanceofloss/damageisknownasrisk.Thecauseofriskisknownasperil.Personshavingsimilarriskspool(contribute)money(premium)together.Thereare2typesofRiskBurdens–

.Primaryburdenofrisk–lossesactuallysuffered.Eg.Factorygettingfire.

.Secondaryburdenofrisk–lossesthatmighthappen.Eg.physical/mentalStressstrain.

Riskmanagementtechniques:-Thevarioustypesoftechniquesthatcanbeusedtomanageriskareriskavoidance;riskretention;riskreduction

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