Professional Documents
Culture Documents
GENERAL
IV Semester
INSURANCE
General Insurance Index
Definition
History of growth of General Insurance in India
Growth of general insurance premium
Classes of General Insurance
Prospects of further growth in India
Important terms used in General Insurance
Underwriting and claim procedures
Insurance and Reinsurance
Impact of detariffing rates and products
Role of Regulator
Conclusion
General Insurance
Marine insurance was being practiced in India from the
beginning of 19th century
Insurance of property
Insurance of persons
Insurance of liability
Insurance of Interest
Insurers now licensed by IRDA
LIFE INSURERS GENERAL INSURERS
1. Bajaj Allianz 1. Bajaj Allianz
2. Birla sun life 2. ICICI Lombard
3. HDFC Std life 3. Iffco-Tokio General Insurance
4. ICICI Prduential 4. National Insurance
5. ING Vysya 5. New India Assurance Company
6. LIC 6. Oriental Insurance
7. Max New York Life 7. Reliance General Insurance
8. Metlife 8. Royal Sundaram Alliance
9. Kotak Mahindra OM 9. TATA-AIG General
10. SBI Life 10.United India Insurance
11. TATA-AIG Life 11.Cholamandalam MS General
12. Reliance Life 12.HDFC Chubb General
13. AVIVA life 13.Export Credit Guarantee
14. Sahara India life 14.Agriculture Insurance Company
15. Shri Ram Life 15.Star Health & Allied
16. Bharti AXA Life 16.Sompho/ Shri Ram General/AXA/
Apollo DKV
Terminology used in
Proposer-Insured-Insurer General Insurance
Risk- Peril
Proposal form
Sum Insured
Premium ( Consideration)
Excess ( Deductible)
Indemnity
Cover note
Policy document
Endorsement-for effecting changes in the policy
Warranties/ Clauses
Conditions
Underwriting
Renewal
Hazard
Basic Principles of
General Insurance
Insurance is a legal agreement entered between Insured
and Insurer due to which due to the consideration, the
Insurer agrees to indemnify the Insured, for the loss or
damage or liability created due an accident which is covered
under the policy subject to the terms and conditions of the
contract
By virtue of ownership