Page 104 - DMGT512_FINANCIAL_INSTITUTIONS_AND_SERVICES

Unit 8: Insurance Sector
Rupesh Roshan Singh, Lovely Professional University

Unit 8: Insurance Sector Notes

CONTENTS
Objectives
Introduction

8.1 Public and Private Sector Insurance
8.2 Insurance Regulatory and Development Authority (IRDA)
8.2.1 Functions

8.2.2 Role of IRDA
8.2.3 The Road Ahead
8.2.4 Foreign Direct Investment in Insurance Sector
8.3 Terminology Used
8.4 Life Insurance

8.4.1 Calculation of Life Insurance Amount/Premium
8.4.2 Advantages
8.4.3 Types

8.4.4 Major Players
8.5 General Insurance
8.5.1 Advantages
8.5.2 Types
8.5.3 Major Players

8.6 Summary
8.7 Keywords
8.8 Self Assessment

8.9 Review Questions
8.10 Further Readings

Objectives

After studying this unit, you will be able to:
Define public insurance
Explain private insurance

Describe life insurance
Define general insurance

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