Insurance B.St. Presentation

I made a PPT as my school assignment. This presentation turned out to be great so I thought why not convert it and share on Speaker Deck.

Transcript

1. Aaditya Pandey Roll No. : 1 Class : XI - D Insurance
2. Aaditya Pandey Roll No. : 1 Class : XI - D Insurance is a means of protection from financial loss. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss. Also, it is an arrangement by which a company or the state undertakes to provide a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a specified premium. What is Insurance?
3. Aaditya Pandey Roll No. : 1 Class : XI - D Important Points • An entity which provides insurance is known as an insurer. • A person or entity who buys insurance is known as an insured. • The insured receives a contract, called the insurance policy which details the conditions and circumstances under which the insurer will compensate the insured. • The amount of money charged by the insurer to the policyholder for the coverage set forth in the insurance policy is called the premium.
4. Aaditya Pandey Roll No. : 1 Class : XI - D Functons of
5. Aaditya Pandey Roll No. : 1 Class : XI - D Principles of
6. Aaditya Pandey Roll No. : 1 Class : XI - D Principles of
7. Aaditya Pandey Roll No. : 1 Class : XI - D Types of
8. Aaditya Pandey Roll No. : 1 Class : XI - D Lif
9. Aaditya Pandey Roll No. : 1 Class : XI - D Lif
10. Aaditya Pandey Roll No. : 1 Class : XI - D Lif
11. Aaditya Pandey Roll No. : 1 Class : XI - D Fire Insurance A fre insurance is a contract between the policyholder and the insurer. Here the insurance company will pay to the policyholder any loss caused to him or his partcular property when destroyed by a fre accident. So the protecton is against any damage that the fre causes. Here the policyholder pays an annual premium. And if
12. Aaditya Pandey Roll No. : 1 Class : XI - D Fire Insurance Two important characteristics of fre insurance are: • Insurable Interest: The policyholder must have an insurable interest in the property being insured. The loss of such property must afect the policyholder and their survival will beneft him. • Good Faith: The policyholder must disclose all facts to the insurer in good faith. All details about the property, its construction, the environment etc. must be provided to the insurance company.
13. Aaditya Pandey Roll No. : 1 Class : XI - D Fire Insurance Sr No Type of Insurance Policy Features 1 Valued Policy The value of
14. Aaditya Pandey Roll No. : 1 Class : XI - D Marine Insurance Marine insurance is generally meant for sea transport and shipping corporations. It provides insurance to ships and the cargo they carry. Marine insurance covers any damage a ship or the cargo of the ship may suffer during the voyage or at any point between the start and end of the journey. According to the terms of the insurance many kinds of financial losses are covered. Losses that occur due to natural disasters, such as storms or hurricanes, or loss that might occur due to theft or piracy and even losses due to accidents on deck.
15. Aaditya Pandey Roll No. : 1 Class : XI - D Marine Insurance Types of Marine Insurance Policies Sr No Type of Insurance Policy Features 1 Hull and Machinery Insurance It insures any mishap to the ship. Also, it insures against any damage to the ship machinery. 2 Marine Cargo Insurance To protect the cargo owner f
16. Aaditya Pandey Roll No. : 1 Class : XI - D Health Insurance Health Insurance is a kind of insurance that provides coverage for medical expenses to the policy holder. Depending on the health insurance plan chosen the policy holder can get coverage for critical illness expenses, surgical expenses, hospital expenses etc. The health insurance policies provide financial support for health related emergencies. It helps meet various health insurance needs be it based on the life stage of a person or a specific disease.
17. Aaditya Pandey Roll No. : 1 Class : XI - D Health Insurance Types of Health Insurance Polices Sr No Type of Insurance Policy Features 1 Medical Insurance It compensates f
18. Aaditya Pandey Roll No. : 1 Class : XI - D Insurance in India Now let us know about how insurance works in India The insurance sector went through a full circle of phases from being unregulated to completely regulated and then currently being partly deregulated. It is governed by a number of acts. The Insurance Act of 1938 was the first legislation governing all forms of insurance to provide strict state control over insurance business. Life insurance in India was completely nationalized on 19 January 1956, through the Life Insurance Corporation Act. All 245 insurance companies operating then in the country were merged into one entity, the Life Insurance Corporation of India.
19. Aaditya Pandey Roll No. : 1 Class : XI - D Insurance in India - IRDAI The primary regulator for insurance in India is the Insurance Regulatory and Development Authority of India (IRDAI) which was established in 1999 under the government legislation called the Insurance Regulatory and Development Authority Act, 1999. IRDAI is an autonomous, statutory body tasked with regulating and promoting the insurance and re-insurance industries in India. It was constituted by the Insurance Regulatory and Development Authority Act, 1999, an Act of Parliament passed by the Government of India. The agency's headquarters are in Hyderabad, Telangana, where it moved from Delhi in 2001. IRDAI is a 10-member body including the chairman, five full- time and four part-time members appointed by the government of India.
20. Aaditya Pandey Roll No. : 1 Class : XI - D Insurance Companies in India Top Insurance Companies in India are: 1. Life Insurance Corporation of India (LIC) 2. ICICI Prudential Life Insurance 3. SBI Life Insurance 4. Max Bupa Health Insurance 5. Apollo Munich Health Insurance Company Limited 6. Star Health and Allied Insurance Company 7. Edelweiss General Insurance 8. Reliance Nippon Life Insurance 9. National Insurance Company 10.Cholamandalam MS General Insurance
21. Aaditya Pandey Roll No. : 1 Class : XI - D Insurance Thank You For Your Atenton