Page 4 - DCOM309_INSURANCE_LAWS_AND_PRACTICES

SYLLABUS

Insurance Laws and Practices

Objectives:
z To acquaint students with the basic knowledge related to the insurance sector.

z To provide a platform for students to identify the various insurance needs of the society and industry in the current
market scenario.

Sr. No. Description
1. Insurance: Evolution & meaning of Insurance, need for insurance, nature, functions of insurance, Scope of
Insurance, role in economic development.
2. Contract of Insurance: types of Insurance contract, condition necessary for contract, Insurance documents:
Proposal form, policy form, cover notes, certificate of insurance, endorsements, concept of partial insurance.
3. Principles of Insurance: Basic Principles.
4. Insurance Legislation and IRDA: The Insurance act 1938, salient features of IRDA Act, Role & Function of
IRDA.
5. Life Insurance: Classification of policies prevailing in market, Annuity, Mortality tables & role of LIC.
6. Marine Insurance: Introduction, elements of general contract, policies, clauses, marine losses, payment of
claims.

7. Fire Insurance: Introduction, elements of fire insurance, kind of policies, payment of claim under fire
insurance, Re-insurance.
8. General insurance: Motor Insurance, health insurance, Catastrophe Insurance.
9. Privatization of Insurance sector: current scenario of insurance industry in India.

10. Actual Services, Recent Trends in Insurance Sectors