Paper :Insurance Law and Accounts
Unit -I Introduction to Insurance: Purpose and need of insurance,
Insurance as a social security tool; Insurance theory, Types of
insurance, Fundamentals/ Principles of Insurance. Contract of
Insurance.
Unit -II Life Insurance - Principles and practice of life assurance. Life
assurance contracts, their nature and characteristics, Parties to the
contract and their rights and duties. Conditions and terms of
policy. Nominations and Assignment Practice in connection with
collection of premium, revivals, loans, surrenders, claims, bonuses
and annuity payments. Mortality Table.
Unit -III Fire Insurance - The basic principles of Fire Insurance contracts.
Fire Policy, conditions, Assignment of Policy, Claims.
Marine Insurance - General Principles - Insurable interest and
value disclosure Marine Policy and their conditions, Premium;
double insurance; assignment of policy' warranties' the voyage.
Loss and abandonment; partial losses and particular charges;
salvage; total losses and measures of indemnity. Subrogation.
Unit -IV Insurance Intermediaries - Agents and Procedure for Becoq3ing
an Agent; Pre. requisite for obtaining a license; Duration of
license; Cancellation of license. Revocation of suspension/
termination of agent appointment; Code of conduct; Unfair
practices. Insurance Accounts - Life Insurance and General
Insurance Company.
Books Recommended:
1. S.K. Shukla & Ram Milan -Insurance Law & Accounts
2. Young - Insurance
3. Huebner - Life Insurance
4. Leigh -A Guide of Life Insurance
5: Msclean Life Insurance
6. Godwin - Principles and Practices of Fire Insurance
7. Insurance Act 1938
8. Taylor and Tylor From Proposal to Policy.
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