Insurance Concepts: General Insurance

With Static Analysis, each component of the insurer's operations were examined separately. Reserving actuaries produced reserve indications, and financial analysts estimated investment returns.

Dynamic Financial Analysis is nowadays gaining popularity across insurance sectors, replacing the traditional notions of surplus adequacy with sophisticated models of financial performance. It is being regularly used for reserving,…

Credibility theory is the adaptation of theoretical statistics to a variety of daily business problems.It illustrates the actuarial perspective.

There are several distinguishing attributes of actuarial science :

The  objective  of  the  reinsurance  accounting  is  to  record  the  business, control the funds and maintain proper books and records for the benefit and information  of  all  stakeholders  both  internal …

An application for compensation  arising out of an accident U/S 166 of Motor Vehicles Act, 1988 may be made:-

There are different practices of dealing with motor third party liability across the world.  Some practices are defined here as follow:

For the speedy disposal of third party claims and at a minimum cost, the Claims Tribunal has been constituted by different State Governments, under Sec. 110 of Motor Vehicles Act,…

The Scheme came into force from 1.10.1982.  The procedure for getting solatium money is as follow:

Nature of Jald Rahat Yojana - The Jald Rahat Yojana came into with effect from 14 th March. 1992. This is a Pre-litigation Scheme for settlement of Third Party Motor…