Fundamentals of Insurance

ISBN Number : 978-93-5097-079-9

Student Price : Rs.475

Student Dollar Price : 19$

Library Price : Rs.950

Library Dollar Price : 38$

Book Edition : Second

Year of Publication : 2017

No. Of Pages : 434

Book Weight :550

About The Book

Insurance is now fast growing area of academic study or profession. The recent financial crisis has witnessed the indispensable in the professionals in the area of risk management. Due to the complexity of the dynamic environment, new insurance products are evolving as well as the existing business models of insurance companies are undergoing significant change. After liberalisation of the economy, large number of alternative products and financial services have evolved that paved the way for the potential and unconventional entrants to penetrate to penetrate the financial market through innovative higher product profile and portfolios, resulting into a sudden spurt in the demand of insurance professionals. The study of insurance as an academic discipline in new form is an obvious outcome. More and more academic institutions all over the countries are offering highly specialised insurance programmes to cater to this demand.

The book is organised into 4 units.

Unit I introduce the concept of risk management to the readers. It conceptualizes the risk definitions, class of risk and the methods of handing risk and attempts to provide an overall view of the risk management and control systems.

Unit II deals with various aspects of insurance management. Chapter 3 and 4 give a framework of insurance basics and underlying principles respectively. Chapter 5 has been deliberately introduced to give an idea of insurance mathematics. Chapter 6 and 7 deal with the insurance legal framework. Chapter 9 and 10 deal with underwriting and rating of insurance products.

Unit III deal with the life insurance business covering the life insurance players and products, claim settlement and procedural aspects, group insurance management.

Unit IV focuses on non-life category. It cover the history of general insurance, the players and their performance, product wise the various non-life insurance categories. Attempt has been made to provide the statistics to the maximum possible extent.

 

Contents :

Unit I : Risk Basics
1. Concept of Risk
2. Risk Management and Control
Unit II : Insurance Management
3. Insurance Basics
4. Principles of Insurance
5. Mathematical Applications
6. Insurance Contracts and Provisions
7. Insurance Laws
8. Insurance Business and Economic Environment
9. Underwriting Process and Methods
10. Rating of Insurance Products
Unit III : Life insurance
11. Life Insurance − Conceptual Framework
12. Life Contracts and Rating
13. Life Policies and Management
Unit IV : Non-life insurance
14. Introduction to General Insurance
15. Fire Insurance
16. Marine Insurance
17. Motor Insurance
18. Liability Insurance
19. Rural and Social Insurance
20. Project and Engineering Insurance
21. Miscellaneous Insurance

About The Author

Dr. P.K. Gupta is a postgraduate from Faculty of Commerce and Business Studies, Delhi School of Economics, University of Delhi and Ph.D. in Finance. He is fellow member of the Institute of Cost and Works Accountants of India, fellow member of the Institute of Company Secretaries of India, Chartered member of the Institute of Chartered Financial Analysts of India and fellow of the Insurance Institute of India, Mumbai. He has experience of more than twenty years in industry and academics.

He has presented papers in various international conferences and has won outstanding research awards. He has also published several research papers and articles in reputed journals and magazines. He has organised various Seminars, Workshops and Management Development Programmes in the area of Finance and Risk Management and has been involved in various consultancy assignments. His corporate training endeavours include Risk Management in Banks, Financial Risk Management, Project Risk Management, Cash Flow Analysis, E-banking, etc.

He is the founder of Society for Professional Development (Regd.), Delhi and President of Delhi Professionals` Association (Regd.), Delhi. He is also the Regional Director of the Delhi chapter of Professional Risk Management Association, USA.

He is presently associated as Professor (Finance and Risk Management) with Centre for Management Studies, Jamia Millia Islamia University, New Delhi. He has supervised Ph.D.s in various areas of finance, insurance, risk management, banking etc. He has been a visiting faculty with various prestigious management institutions i India and abroad. He is the founder of Society for Professional Development (Regd.), Delhi and President of Delhi Professionals Association (Regd.), Delhi. He is also the Co-Regional Director of the Delhi chapter of PRMIA, USA.

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