lead to greater operational threat.” Insurance is one of the tools for risk management that aims at reducing the risk on the day-to-day life of individuals‚ organisation and society. At the same time‚ it should also be appreciated that insurance cannot be utilised as a risk free tool for all types of situations. Insurance provides risk management solutions to many situations that fall within the competence of human judgement and managerial skills. Insurance is very important in today’s world there
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Insurance Insurance a defensive measure used against future conditional losses to hedge the possible risks of the future. It is a legal contract that protects a person from contingent risk of losses through financial means and provides a means for individuals and societies to handle some of the risks faced in daily life. Policies the contracts of insurance that are provided by insurance companies. Premium the regular amount charged from customers by the insurance companies‚ which is
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Social Insurance ECON 3440 What Is Insurance? An insurance premium is money paid to an entity so that an individual paying the premium will be insured against adverse events. The premium is paid in return for a guarantee of compensation given a specified adverse event (illness‚ death‚ auto accident‚ home fire‚ disability‚ etc.). ECON 3440 - Prof. Wassall Expected Value and Fair Premiums Suppose that in 2009 Emily has a 1/10 chance of serious illness and resulting disability‚ and
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Kennedy and the Balance of Payment Assignment 1- FINA6676-2 1/30/2014 Hang Pham- A00366703 What is President Kennedy’s U.S. balance of payment problem? In the 1960s‚ the United States was experiencing the balance of payment problem when its trade balance was in a substantial deficit‚ the US dollar was under an attack and a massive amount of gold flew out of its official reserve. Such issues in the balance of payment if exist for a long time can be a threat to the whole economy because
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Problem #1 - Purchases and Cash Payments PURCHASES JOURNAL Invoice From Whom Date No. Purchased Oct 1 1235 Belk Suppliers Oct 7 7438 Greene‚ Inc Oct 12 5139 Harris Co. Date Oct Oct Oct Oct Oct 1 5 11 22 27 Check No. 142 143 144 145 146 Hollie Creech Post Ref. √ √ √ Purchases Dr Freight In Debit Debit 4‚552.00 2‚658.00 3‚877.00 11‚087.00 (501) CASH PAYMENTS JOURNAL Account Debited Post. General Ref. Debit Rent Expense √ 1‚235.00
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INDEX * EXCECUTIVE SUMMARY OF INSURANCE SECTOR * INTRODUCTION * HISTORY OF INSURANCE SECTOR * TYPES OF INSURANCE * PRINCIPLES OF INSURANCE SECTOR * STRATEGIC MANAGER * ROLE OF INSURANCE SECTOR * CONCLUSION * BIBLOGRAPHY. EXECUTIVE SUMMARY ON INSURANCE SECTOR : Insurance sector in India is one of the booming sectors of the economy and is growing at the rate of 15-20 per cent annum. Together with banking services‚ it contributes to about 7
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Life Insurance Life insurance is a contract that pledges payment of an amount to the person assured (or his nominee) on the happening of the event insured against. Life insurance or life assurance is a contract between the insurer and the policy owner (policyholder) whereby a benefit is paid to the designated Beneficiary (or Beneficiaries) if an insured event occurs which is covered by the policy. In return‚ the policy owner (or policy payer) agrees to pay a stipulated amount called a premium
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HistoryAetna‚ Inc. is an American health insurance company‚ which is the direct descendant of Aetna (Fire) Insurance Company‚ of Hartford‚ Connecticut. In 1850 Aetna began operation of an Annuity Fund and the company would soon to be known as Aetna Life Insurance Company. In 1899 Aetna became one of the first publicly held insurance companies to enter the health insurance field. Since then Aetna has become committed to providing access to cost-effective health care of the highest possible standard
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Rural Insurance in India the untapped waters The real source of marketing promise is not wealthy few in the developing world‚ or even the emerging middle income consumers. It is the billions of aspiring poor who are joining the market economy for the first time. ---C.K.Prahlad Rural India is where the next ‘big’ opportunity is. Indian rural market constitutes
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Vehicle insurance Vehicle insurance (also known as auto insurance‚ GAP insurance‚ car insurance‚ or motor insurance) is insurance purchased for cars‚ trucks‚ motorcycles‚ and other road vehicles. Its primary use is to provide financial protection against physical damage and/or bodily injury resulting from traffic collisions and against liability that could also arise therefrom. The specific terms of vehicle insurance vary with legal regulations in each region. To a lesser degree vehicle insurance may
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