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Terrorism Risk a New Face in the Insurance

Sector
Project Report
By

Mr.Sumit S. Rathod
T. Y. B. Com. Banking and insurance
Semester VI
Prof. S.Kannan
Project Guide

The Department of Banking and insurance


Sydenham College of Commerce and Economics,
B Road, Churchgate, Mumbai 400020
2009-10

DECLARATION BY THE STUDENT

I, Sumit S. Rathod, student of T.Y.B.Com., Banking and Insurance, Semester


VI, Roll No.42, hereby declare that this Project Report entitled Terrorism
Risk a New Face in the Insurance Sector is being submitted as a partial
fulfillment of the course, which is a necessary requirement to pass the
Semester VI examination. I further declare that Report is the output of my
personal research and all the information contained herein is correct to the
best of my knowledge.

Mumbai
April 13, 2010

Sumit S Rathod

PREFACE

Terrorism is throwing itself as a national security challenge for almost every


country. It has brought many countries to a standstill and its frequency is
increasing day by day.
Insurance Industry around the world has created a Terrorism Insurance cover
in order to face the uncertainty of Terrorism. U S Government has initiated
an act on terrorism known as TRIREA and it is followed by many countries
in preparing their own Terrorism Insurance.
It was my anxiety and curiousness to know about this new topic that it led
me in preparing this report. I have taken time in order to provide the best and
up to date information on Terrorism Insurance.
The main intention of mine for taking this project was to receive the
practical knowledge rather giving importance to the marks associated to it. It
was not just a fulfillment of the work but a through understanding about
each aspect of the project
I ensure that the readers receive the right information from the Project and
also gains through the informations

ACKNOWLEDGEMENT

I take this opportunity to thank the University of Mumbai for giving me


an opportunity to work on this project, which is a prerequisite of this course.
I also thank Sydenham College for laying the foundation for the project. I
thank my project Guide Prof. Kannan, whose support has helped me to
complete this project in a fruitful manner.
My project would not have been completed without the help of our
collage Librarian. It was in deed her support that enabled me to receive right
information from the right source.
I would also like thank my family members especially my Sister
Naina Rathod for guiding me through out the project and providing me with
the right information. At last I thank all my friends and well-wishers whose
help has made this project a successful.