Commercial Insurance Coming of Age for Automated Underwriting
Introduction Property & Casualty (P&C) insurance industry was highly impacted by large catastrophic losses and soft market in 2012. P&C insurers struggled to improve their Combined Ratio…
Theoritical Insurance
The caption of this article needs some explanation - to keep the readers - especially those engaged in selling - and the author on the same plane…
ENDEAVOUR TO REGULATE DETARIFFED GENERAL INSURANCE MARKET
Introduction: All of us are aware of the fact that with the enactment of the Insurance Regulatory and Development Authority Act, 1999 the Indian Insurance Regulator IRDA was established. IRDA…
INSURANCE & REINSURANCE Of FLOODS/STORMS As ACT OF GOD PERILS
Introduction Acts of God perils or Natural Catastrophe perils are 'Insurable' so far as they are "Reinsurable". The incidences of increasing frequencies and severity of events of losses caused by…
Renewal methods that can be incorporated in policy conditions?
There are a number of renewal methods that can be incorporated in policy conditions such as (i) Non-cancelable renewals - renewals assured and without – any changes.…
procedures that an underwriter must adopt while accepting extra hazardous risks?
There are some risks which are claim-prone owing to the physical Hazard. They are generally referred to the Controlling Office along with the following particulars; (a) Completed proposal form (b)…
What are the skills that an underwriter must possess?
An Underwriter should possess the following skills: a.He should be able to visualize the property or interest to be insured and the variety of potential risks that can cause losses…
CARRIAGE OF GOODS BY MULTIMODAL TRANSPORT
Introduction In International Trade the movement of cargo is frequently done through more than one carrier and more than one mode of transport. Normally, the consignor used to engage individual…
Tenders for Rs 100 crore farmers’ health insurance scheme soon
The state directorate for agriculture and food production, which has been appointed as the nodal agency for implementing the farmers' insurance scheme under the Biju Krushak Kalyan…
MATERIAL FACT – THE MOST IMPORTANT ASPECT OF UNDERWRITING THE PERSONAL LINE POLICIES COVERING HUMAN LIFE – IN CURRENT INDIAN INSURANCE MARKET
Generally all insurance contracts are contract of indemnity except contract of personal line insurance covering human life e.g. personal accident insurance policies, health related policies and…