Principles of Insurance

Unit I Insurance – Meaning, Definition, Functions, Nature and
Principles of Insurance – Insurance Contract – Importance of
Insurance to Society, Individuals, Business and Government
Unit II Life Insurance – Meaning and Features of Life Insurance
Contract – Classification of policies – Annuities – Selection of risk
– Measurement of risk – Calculation of premium – Investment of
funds – Surrender Value – Policy conditions –Life Insurance for the
Under Privileged.
Unit III Fire Insurance – Meaning, Nature and Use of Fire Insurance-
Fire Insurance Contract Kinds of policies – Policy conditions –
Payment of claim – Reinsurance – Double insurance Progress of
Fire Insurance.
Unit IV Marine Insurance – Meaning and Nature of Marine
Insurance – Classification of policies – Policy conditions – Premium
calculation – Marine Losses – Payment of Claims- Progress of
Marine Insurance Business in India.
Unit V Personal Accident Insurance – Motor Insurance – Burglary
Insurance – Miscellaneous Forms of Insurance including Social
Insurance – Rural Insurance and Prospects of Agriculture Insurance
in India – Health Insurance – Liability Insurance – Bancassurance