| (ese Sesnaron= sow an Act caged the ie of Fam and How sane ee ee teins for hy as Tt Evening, Hewes avelng Home fer ‘The Concept of Insurance and its Evolution | a Hectic Day in Office. He was running Late, and was speeding, to get Home on tis | Iamerte "the Road ad No Adequate Stcet-Linhts. He did not natie a Truck, | i ane change the Lanes. The ae ‘Shovoahing Hin at Get Speed It as Too Late for Hin, to change | FPiretan cir im, He court sunve the Acident, and was Declared Dea, when "is pean tomate ane the Bs and tre cs, How eet e ten: Tehct"adtori gets Tain Ae pogueamt arene terete | : {et Kan, Hoe since teks ce of Un ExyectedEreualiies. (Mr. Satish was survived by His Wife, Mrs. Poonam, and 2 School-Golng Kids, Mrs. Nonr ewar Sete since fe sth waste Oly Eaming Nemeth | Fonatunty, tr Hr es Stth had bough Lite Asrance Pally, which Foveducpla tis Catest Racare of He ies Atbough He sats Ur Tin sty exh ve be logan by Sats Sal hen, He id ars, ane Fema hy tan now marge tom, ore ts the Some Star of | ving. te, Poa as own up abn a bate Fad as aight a ance | Policy, for Her-Self. She believes that, Her Husband's Decision of Buying Insurance Pio padre Asoc Tete he, tat es case on 2 Lon, fm a Lacal Ba was Totaly {Damage The unk apprathed is. Poonam, forthe Bale Paymest of he Laan ‘Amount: As Mr. Sa’ Motr-Bke was covered under a Wotor insurance Policy, the Chapter 2 Learning Outcomes. a Ersience t.owh Insurer pa the Valu of the Motor-ike to Mrs. Poonam, andthe Loan could be ald: ah Retrsseate {sens th the Deh of. Sash et a Vac in ter Lies; because of the Insurance System, the Fariy could get Some Financ assistance eter Hs Death hereby, they could Pay-ff Hs Debts, and alo be Fiancialy Secure, Ths Cveng deri the Fact that, Life ts Un-Certain, and One has to be prepared for any © T. pater he efaase prob * Pheu, CCentingencies. Herein les the Importance of laurance, Bane «shor nm Be a pgie | (havo c . «1.1 Need for insurance: {he Concept af Insurance, Fst, We have to understand the Need fr Insurance. The 3Siuatons, dicted beon, wl expan the Need for heures ' J 5 5 TP derstans » . ‘union: og hat, Yom Th of Soe te Rs, td ‘Your Car. These can include: 7" een mi The isk of Damage tothe Car, de wo Any Unexpected Event. S_> Tre Risk of aCarsecdent end inuy tothe Ore % Toe ofthe Carat Saen os : <5 >The Rsk ofthe Car utingoter Some-One on the Road, cus Injury an the {Leah Unbity onthe Owner of the Car to compensate the injures —u“ree, SS ‘inion imagine that, You are working wth a Caray. This of Sone ofthe Rik, related to Your Jb These can ne ‘The Rik of Un-Tnely Death, due to Same UnEpected Evento Loss of Ina, forthe Remaining Working LifeSpan, ‘in Case of Untimely Death, the Resporsibites You. leave behind, such a, hdres’ duction, Chieren's Meiage, Home loans, ‘The Rk of Fling la Lass fico or Tempra Fine ero, ‘Te Rsk ofan Accident, Temparary Ossi or Lee of aring Capac, er the Remain Work fe Suton: mayne that, You oun 2 Bsns. Tk of Some ofthe Rs, stated ‘nth Your Busines: Tees can nce ‘The Risk of Damage to Your Premles ar Machinery, due to Floods, Fire, Earth hates et. > The Rsk of Damage to the Row Haters Fined Goods. © The Rsk of Theft of Sock ory. ‘bo Al the Above Riss, wary Yow You need not panic, 2, surance can provide @ over, epithe Above Rik > Inthe Fst station, Motor surance can provide You, witha Cover apis Rik, retsted to Your Ca. PUB UEUERUUO SD Oe | | See) | eee Sut Costs. e can prove You, wit 3 > Inthe Tid Sato, Fie hance or Poprty nance Inthe Fst Suton, Owning the Ca san Ast, doesnot ie the End Use, Ay Monetary income Bit, a the sae Tine, te Car provides the Owner, Cao > Inthe ecand tus, a mon ier an came Generating Asst > Inthe Td stuaten, the Sisters Owner en sel Ped Goods, and generate Income, hee, the Buses an Income Generating Nes THs Ines he Premises and the Canes ofthe Buln, tke, Machinery, Raw Matera, ane Fried Goats‘Therefore, in A the ADove vce Stunts, the Over would be interested in the Contnse Enjoyment of the Benet om these Ase A the Assets hae TomeLies, and eamot be expected to last fr-ver, So, the Benoit, povided by these Assets, wil las, Only fora Certain Period of Tine. th the ‘Above situa, th Car, a5 an Aset, as Life-Tme of say, 10 Years or 1 Year, Human Beings war, unl the Age of 6D Yeas, which, the Nommal Retirement. ase, ‘ter Retirement, the Monthly Salary Ince Beni wit Not be halal Dung ts Life Tune he Ase wil be exposed to Certain Rss, such > The car canbe ste, > Auman Being can Fai t,o ie. > Theses canbe destroyed by Fe, \ Any ofthe Above Rappers, the Ownee and those enjoying the Benefits from these set, ‘wil be deprived of the Benet. At the Same Tine, there may be he lmmediateSubstivtes, Ready. Aso, Any Substitution would involve an Un foreseen Economic Burden. This may lead to an Adverse ‘or Un-Pleasant sation, in sch Situation, surance comes tn Handy, murance is @ Nechanbi, that helps t redone ‘he Fan fects of sch Adverse Stato, Le ~An Inarance Company (fered to, uly, 3 the Insure) promises to pay, to the Owner ested) er ener ofthe Ae a Cert Sum of eney use 3 Ls ccs, tay they tay ty to err Contnuncs of the Rear ae. The Isred ays a Certain Anaunt (Colerain, tothe surance Conger ee | eng thet wh sown a, Peay Insurance canals be defined as, 2 Coperative Arangement to spread the Los, ‘used by Particular sk, over a Large Number of People, who are suposed tre | Exchange fer a Sal Sum of honey Inrance can to be defined ws, a Proce of transfering the Rk, rm Sone Oe, vo aoc hear, te Some De, who hs He Cased a na Retr for & Consideration. cts ane In simpe Terms, surance > Areca of > Fang Fatrig the kot cig Las, bythe Ome (tho cnet the Risk) of an Asset; oe seid few > Tone ier Party trance Conny), who cana the Rk > inet tora Cartes (alee ean A Acent or an Evert, he, Fe, may hapen of mayo happen. The Owe {Sh recautonary tps to preven he Een Bt il there lod tat rest my hyper Tae on Ue, at hte Cer wo | ‘Bega lo fer Sel the U-apected Event does ec, thee Sten, were, te Oe wl ue the Seats, He o She was driving for 0 set tisinauch Stunts, tat sumnce seria anesthe Omer that, Bens wl be pected The rane Conpuny covers Oy hone Evens, tha Fonble to Our but are Nt Coan the Gcarence fan vent, a2 Gen Po OF Tino and nacre Cert tan, trance Campa may Nt cove Se Eve in Shot, narance aan ew shared by any = Questions ° “The Proposer pays a Consideration tothe insurance Company, fer bearing the Risk is or Her behalt, Whats his Consideration, know 3:1, ‘A Enrolment Fee. B. Premium, ©: instalment, Bonus aning utcome b} Life is Us-Certan, and vio Reet. an8 so ae, the Businesses Just as, Yarious Risks, Businesses are Prone to Venous sine, hese Riss, among Al ho are the Life of Person Prone to Persons and Businesses, ee > Over 5,000 Yeas Back, chinese Trades ud la ‘zsnt Piracy. The Crg of tach Sp, sed to be dural eee vee testa be dtted among Other Sey #52 I Ob Ship gets lst eps by Pte th tne mecha > Te Fist Weten race Pty was ona xbyorian Obes None, wth gc See ot Kg Hamma. The Hamar Coe mas Ore ae Re ee | # Wien Laws, The Bsc Iran gve the Baboon Nada he eect against Los of Cargo. , > 'n 1666, the Great Fie of London destroyed More than 12000 houses. To counter RL Eves in Fue, Fre Oi, the Fst Fe ance Company was states 1089. p> Trades in Londo used to gather at Lops Coffee Hause, and agree to sare the *& sts of Gods ito Pray; othe Sip Seng, det oe Vester, or Or 2.1 istry of Insurance in India: In India, tsurance began formally i the 18°Centixy. The Following ae Some ofthe ayy Companies, who started operating, n nda i ear [Eee — | ELIS ran CoO aR ie Company, was established in Kolkata. deat CADE Wat TASES NS CHET seen eee ceo [Lens a a Ten mae 0 it a eT rr wa acd Pea rai Catpny Tl Wat ated P Det. 1a | Rap a i a WUE eee, ‘The Growth of insrance Busines nia, requed the Enactment of the Isurance et 1938, ie Isrence Coporation LUC) of ada In 1956, Life astwance' Busnes Jn India wat matihaled, and Life Insurance (corporation of na wa formed on September 1956. {Sener nsranceCotporaton (6...) of i fn 1973, General isrance Buses wos natin ni, and Geral lnsurence {corpcatin (6...) of na andthe 4 subsidiaries: Naina Insurance Company {imited, The New nda ssxance Company Limite, The Oriental insurance Company Kiited and Unites Inia srarce Company Lied, were formed A a Prt ofthe) Iitonalisation Process, the Funds o Al Existing Companies, were merged with the 4 [ibs of General insurance Carpeaton(G.C) of a. ths Changes: HL $9, Le wince Corporation (LC) ola ha the Excuse REE Life sarc ses nnd, wth te Exception of ost fe ence (PL) fat Posal Ute auc (RPL) an arc or Otc Pea 9, th Rett Cavs were amend, ad th fe Asura Sector Was ope fe Bes to Prat Paes sn rh 2016 thee bre 24 fe sara konpa, wns Ue Asunce Sunes inl 2.2 Lberliation ofthe Insurance Sector Insurance in nd governed by The surance Ac 1938, a ame om Teo Tne ays down te Rules and Replatens forthe Irurance Ist. Isrance Rogultey and Development Autor (LR D-A) Act was enacted Ip 199. Aero 3, lmurance Repuatary and Developer Autry of Ina (UROL), I har Bas se Regulator or stance Busnes in nd, > Inthe Year: 200, the sane Sector wa eral and opened for snes tothe Pate Sector Farin Direct investment (bl) wae loved in ewanc, "to 268, where, the Forean Payers were aliawed fo enter Into Jeers ‘eth Domest Pers The Iewance Laws (Aendmet) set 2015, have raed ‘his Lint of Free Det Investment (om 268.0% > Lot of Daeste ayers fed Hands wit Foren Partner, who Bout Vauale Experts aed Catal > pnig pf the iran Sctor has ld to Emergence of Inoatve nance Produ, and has abo hebed Deeper Spread of iurance > Uberatzason eu, te Mc Needs Campetion, and Setter Cstone: serve,CORE Qvesion2 How mich the Maximum Foreign Dect Investment F...), allowed in surance, in ot Ae am © 7m to SS aaa ean og a nae ee ie 0 atau etna Eovhch eta cae Diagram rine Insurance Instead of the Pesos fromthe Greup caning together, on ther own, the insurance Gompany acs ae temedny, and rings them toatther. The herbs whe are expe tothe Same Risk, contrbute Nanay ta Pot, whch s maintained by the Insurance Company. ach Hember’s Contutian is iawn asa “Premium” Whee oy eter ster Los th insurance Company pays Compensation from tis Canmoe oa nts Way, Rk is spread, among the Members of the Group, Sod tee Probable Big inact on Oe, i reduced to Smal, Manageable lnpace op Ai Se {Rib the Number of Meer nthe Group, the Ease i,t sere the Rk, The Prema, Pod by Coch Member, i Proportions tothe Bk iar Seis + FerovA tipo te Gand north Rupees 1000 and Pera spp {8 Gent, wrth Rapes 200 nt Cte, the Pau Ped fy Pe wile igner an spe y Peat + Fenond shipping Gold Omaments, and Peron is shpping Paste Omaments Inti ae the ry, aby Pesan lo es Oa na o De ther tan tht, Paid by Renan soi he Gods, oa Taso | bay, ‘Gen fora Tag Tine of nth rs eh 8 ie igen ht. Pid by Per PenarA 8 Mert Goat, om an dan chy to an indian Sear ana Reser i stop the Gots, son fe Ba 7 rontun,Pidby Pesan, wil be Higher than that Pai fees: snd Person i shipping the i Prem, Pld by Person [Eeegoetied| a e je e da el el el «ll sSUBUUUHECEECDDS OSCE T ONY pe In Ina, the Ira, the Premium collected by Instance Companies, Advance, atthe Tine of CmaN OF the Member to the Group. A Fund & crested from the Premuns RUGS, ond wed to sete the Claims of embers, who aller Loses: The nsnum Amount, that a Person ean reeves know athe Sum-sred (0) I - ss expected see, Hom the tna Vilage, there are 1,00 Houses, Each valved at Rupees 10000 ‘hat, ono Berane, 10 Hower may eateh Fe, ina Year. LEC OS Premam wil be elated nthe Above Sena Rupees 0,007 Tumber “of_Car‘Owners,—anang | 500 hom the Lass tobe irked | AL e100 Owners can come tageter and cantrbute or hare Rupees 100+ Each, {and tuld' a Caran Fund of Rupees 1,0,00/-. This Common. Funé of Ropes : (Tanterartaas Ta : Rete we sf0 Cain iy. ts i te Ripe rn Cy, Rs expected that, on an Ava, of he Ceo 5 Pra “meet with an Accident, in a Year. The Economic Value of the Loss, suffered Number of Houses, expected to catch | 19 Prem Outer of Each Car, is taken to be Rupees 10,000/-. Let us see, How the panne. retin vibe cated neha Ses | reac Tepes OT = 7 i Sper Toattaate oes Te | air a, i Weg cone Vale of Each Car Rupees 1,007 : { ee 7 hae per ws i tos, th Hea obear |RSS, OT Sees maa Pei wea T [ae Toss, that Each Car-Onmer has to | Rupee bear Rupee 100 [Prenian to be chard, par Car [Rupes 007 Owner pO Al the 500 Car Owners can come together and contibute of share Rupees 10) Exch, and bul a Comnen Fund of Rupees $0000. Tit Coron Pind of Rupees 30,007" can be wed to pay Rupees 1,00, 0 Each of te Car Ooms, whee Cat ‘meets wih an Acaigent In thi Wy, the Los of 3 CarOwners can Be equaly Sisirbuted among ll the 500 Cae-Owmers The share (remsin) of Each Cr Onner comes to Rupees 100/~ {co,c0r- canbe wed to pay Rupees 10.000), to Each of the 10 Owes, whee oases ge deste ue t Fin ths Wa, the Loss of the 10 Over, can be ‘ely shared by Al the 000 Dwers Te Share af Each One", comes fotupees {00 whi werk ott 1 ofthe Hause Valse Rupees 10,00), Ths te Same atthe Probblty of Ri whieh 1 (10 Houses bunt so 1,000 Houses). The Contin or sare of Rupees 15 per House One, woul be the Pei, that wa Fad 91 (roma of Rsk fee stance Cover wh sual tothe Valo of the Ae Dieram33 How Fre nsrance works1n the Adore Bamps ase ta, there are 100 Houses, but of Difrent Vas tat Cre, the Share Ea Hse nr ead eT he Value of te Howe te asmptn was tat, 20 tas, 25) eto th 1.009 Hawes are they {oat araged the sare would be 2 fotch Probably ef Rk) ote Valu ef betes, The Fabby of Rok would depend upon Facts, such as, the Nature of aotracton of the Howse (Gnerete or Thatch ote) Weck Is toestion FResenit Camera, Insti hrea), GaoteStord, Ome of Veni, Hire of Ue ants em The Risks messed in Tams Percentages, ade Share woul be Eu oat Sone Percents, ‘ima, i the Case of Human Beis, the Premium wil be inuenced by the Fotowng Facts Fox Fa, to. Gen RE BAR, 3 ear 00 Yeas the eter thee te es wile the Pen. Ge ay ther Facts see ae Sime hs Age racy the Pen fo te Person, Aged 31 Ye, nl Bethe Lowes ad he Frenne he Peon ee Ye, wit be te Hise arance_Coapaver nay cage —Dvfaet a Prem fr Hes and Fees Dased th Eiponse to Rol mir Vir Pace nd Coney. Ferns, wine th Peon, wr, th Stream Ober Normal Psion Fe Eran, Pees wai Une ra et and Expisve acta, are exert. Meher fs, tan Pees tn Other Pes, sah the fran Tec.) nay, ers, who consume Tobocco and ASI Habs snot; wl be charge Higher Pena conpared| ie Other ens iain Persons, Gord eal, wil Be Garged Tower ntans | Prem thn the Pers suerte See ene, Dr, and abies, ere i 2 Foniy Hstoy of Alanis he, Braet, Canc, ear oben, eee, ersan maybe caged 3 Hah Pion, te Profession Pay History ewtonad Feta leona Fat cen. These can ice, Hobbies of «Perse, sucha > Mountaineering > peaclne 5 Watersports > Trane ward, The Company species he Parameters ofthe repbany depen co repute Pes Th Wl be the Stange, gest ‘whch yrs Papa wl be messed ite Rk assed to be rater than the Standard, 5 dsb as Sub Standard tnd Haber Premiom may be cred Tr Seking fs condered asa Hazard, a Standard Premium may be Fixed for Non ‘Soler, Smokers maybe charges Higher Prem Irth Rik fe assez tobe a Lot Higher than the Standard, the Insurer may aso Dace to Accept the Proper for insurance. Ite Aoplcane string fram Cancer (Stage o Higher, they may not surve for ‘Lang ime nthis Casa, te Insurance Campany may Decne to Accept the Proposal for Insurances, the Rstlnalved 8 Very Mig TT Risks that are Sigiticanty Laver than the tandaré Riss, ae prefered by Insurers Insrace ‘Canpenies arrive at the Pramium-(o-be- Charged, Dased on thei Past speionce. The Probabity of Risk wil depend, party, How Frequerty the Pest may Occur, and How Severe Ks impact can be. How Frequently Peis, he, Earth Quakes ox Stoms may acu, are Nat ln day-One's Conte. Bu, the Exton of tre Damage wil depend on the Qialty af Constucton of Buldng, Prior Warning Systens ae Eacanton, Quality of Communication, How Soon the Local Authors taecos the Rll Work ec, As and when Changes happenin sich Factors, the Probeblice, il change. The Insrers take these Factors to Consideration, in wren ae it tan to Consideration, in arriving at th ‘Tobe insurabi, the Loss must be ® ial to Occur by chances > dential nTime (When Happened; > Quanfale asa moun > Slenifcant in Terms of Arount. Isuers don't accept Sia ont accept Petty Losses of Lite Value, slay down the Limits, below which Insurance wil Not be coer 36 RPAMAAANRARARAAAAHRAAMAARAA> Predict SRA, Reasonably Wet, This s made posible, through the Use of Probably “faster of insurance Poi: Insurance is taken to compensatethe Loses, tothe Person, taking te Isuance Fat, Ts means at, tensed set wasfrred to Aether Pen, an ts amased, the Insurance Company wil Not pay the New Owner, ures, the instance ay ins ‘is also transfered (weve Cte of Nine Cargo insurance, tha Pace yDitferen, which, Youve study taker) zi ® Let us understand th eter, with esta ths eter, with an Gap. Ne Ajay bough a New Cr tthe ‘Tame of Buns the Car, He brut Mar aan fi cr ter wath Ct Tree Morne, Su sold the Cart Vay, Vy ees with an een, ‘wit ving the Care Wy kes a lan oe nuance Campy, gah ths a, ot: tsrance Pally, Cok by He- Aly The isrance Conary wt NO py the Glam 25 the Car hasbeen Waser fom Ne Ay ti jy bt the hake Insurance Poly fant been wandered am iy tor Way tro the surance Ply woud ned the Comet ofthe ance Camps. Te ORES, the ferent Classes of mourence | oe : {Learning Outcome 4) Dagran-4 Claro of Irance: | ine | [si | : se | ea ie Men Policy fellows the Person tthe Srna & zx» &£ °@#&@©&«=*73»+»F:COCO”C~CTCT Question dey Tere are 700 Car Owners in iy. On an Average is expected ta, 2% fe Cars Ges cas are het to Newt wih an acldent sexed the Lass, sere by ach ofthe 4 Car-Ovnes, wl be, pes 15,007 How Much wil be the Prem, Feauived tobe entra, by Each of the Car Owns ts cover the Lasse? 1 tupees 1007- Rupees 207, SC Rupees 3007. D Rupees 400 : Ss See SuUbuUUUS (i (a (i in] a on] [5] Insurance Busnes broadly elsiied nko fe Assurance Heth Isuance and ‘Geert oc. 1, Life Asan: Cite rnc dels with covering te ings In ite Asurance, the sete connie Ya of i on.’ Exiga ‘depends ens oe,‘ Roowegge, ADAY, and Oterfactan) The Fay, ple, td ey the Urs of roc, eested by is Ast (Human Br) oy Volos an Beef, aman le rap nce Generating Ast, is ek hye tet thrush Vrbspeced, Ey Death, or Mae NanFunctosl, housh trees ar Babies, cae by hcl. Desth Cert, but ts Ting b Ut ‘Cratalrbeth ocr: Vary Early he Carer, Isrance cote help tor, pendent ent Se) Ast 5 “ying To ays Preble, “Living To Leng can ao be 3 Proter, Bus n is eis the tenet Yeu nd acti te fon Fe IS aes x te Ue spect fr Earp, Yea te Pena me Fence Fecal ronan rhe Nes 20 Yen ue ean es Tom targa in Cet 0 Yer, ten, He o She wir Out of FracResources, Life surance cn help instep the Persons, ais such Rs of Longer inte Forme Person P| — 2 Health surance: ea nsrance iss Huan Lives aan the Fanci ass arsng et of Un ‘eipected Acidnt of Sees or Hes esting in hosplistion sod ones {trough Medial nuance Death or Disab ang tof an eco ca see fet te icome Earning eapacy ofthe nied (eral scldent Gobaieats hs resdted in movement of Humans across the clade, Emusery eho stations er accidents an occur fr which Ores heel surance oman 2 General nsrane: (Glan ite inrance or General insurance, ese with covering Nan Horan Objects, te, Asal, Arctural Crop, Goods, Factors, Crs et. Some Couey Nee Insurance aso owns roperty and analy insane) Nondife srance ao covers the Loves, trough India Behav, he, Feu uly, Non Fine of Promises, (nthe Cs of Re Payment of Pats: Lact and Negivece by Profesional th Serves Geneallsvance Poses ee ney fort Year, and are Renewable _Seneral surance Business further died int Tre Caters: Fre sree, 2 aie siren. ? 4 Mseaaneootor Insane, Engeeng, Usbiy, SOQ Fatty se i marae ds th Felted Rs, ad wl incu, Damages due to dees “Ha ES bie” Gees” Errante Sa ea penne related tthe ren 7 Warie Iswance dest with Gods, bing tanec by Ses, ir, Pac Rosd, as well, al rie Related Rs, om Fe sane a ie nc, Oe tees we eed / te ientareot Cs Tete We nae Reg et Beran My Accidnts and Illnesses to Haran Bos, ae covered In Heth strane i nia ut, these are covered in Life Asuanee in Hany Counties na, ese Some Crteatneses, are covered in Life Asusce, Only a Aion ead (Riders), along wth the hain Life Asurance Pay. In Ind, ance ois oh Person for Death by Accident Only, was treated as Nove rae Sy the saa zed re nr em a ts eg IES. a == __________¢ hosions Lite Asean Corpus coe, Veh Types eit A ike pected Eat Both 2 bite rg fran Cath the Above, and. Dhan ofthe abe, ODA am rt AOAARHeA OPPene{teaming outcome | B ‘Appreciate; the importance ofthe surance Industry. pr SPSS mae The Eman Ore t he Ree ane Bs, By He ob ‘ten nay pe ing ees {cers wwe i te Seperate ane feat Ease eh er gy te meee ‘eon wir nana cnet eos aa [rhc aman cmp eter erm ote octet rma npn tas se Eun da > Seteresege mses or - ay these omer tn incerta eben, “Te Susinss of General nance & Cloely Unk to terNatil Trae ard Indy. ernc, aang wih sank, rode erure or Tage and a Inst, to pero, tte Ea, Nolen Corpus have seis ih Mow of the Cours, tine prove Serves, Ted to pec, Savane, Decunanton et, sane trodce Sony, betas Buses Ec, nd Creates Equi Browsers of tases newer enfnces Cred Wore, Sots Exng Power, aks Sn Posies al Ou etablesIestnent ‘trance an reduce Dest, alates eter Hear ad Trade aA road Scape sane Busines: “The Cone of aranc as een extended beyond the Coverage of Tange ets. Pan iporar hasEpre Ga e Se Tacs Ce Rak othe Imparer ithe (ther Cony, eating on he aymat. 1 Thee vy, a Te Lap cow Mont, baboon ce pore, sein the cont and een the Payne Dug Oe Tone, tl the Peet come, {Re Eres epee tote ako Lanes, ae to arp Appreciation the Dest Crreny Bip alio fce a Rt of Chings nthe aac ices the Hane Cou Er Coors whch oy mae he Bper spe, UrFoere | these Asks can se be fered. These Sar fred by Eo Cet and Goavente Caperatan(CO.C}, = Grerme-Owned Conary, ULV Lae Frofssonas, be, Qatar, Lawyer, Acentns, and goes; rn the Rik of Po erat aghgrce oa Saseient Unity Corse i e | > an cra can sed, by the Cen He Se faces # Ls, BRE ot ‘eng hee : AE canpany can be sued, 2 Brig, bal by Ht, olapssteing Some thes > buco on i sug, Patient dos, because of His NegbBence ad beyond the Capacity of rm of oreesioal Usb Dancer The Anan, ciaimed i Damages, cin be Fly Lage, {he india obror, Tze Rs are Inala he For ournctreducs i Same Coutri, the Vie ofa Sher or the Les of & fan te sired nance inetd io rie One, Fa te Rie anacated Wit ap GE aS contin extn the Berets rome > Irae tans the Rik rom the Asst. Ouner tothe nance Conga, Retum for a Fee (Premium), “we a > Th Fit ten insane Ply ws on Sbyxian Oe Honanet, wth te {ae of King Hanes nd, he tlie suns Coa Life nrance Company, whch wt Stare nies ate 2 ind, nthe Yer: 200, the srarceSectr ms opmneaay she Pye race worsen the Concept of Pal, where Pal epee ne ‘Risk, are brought together, bythe Insurance Company. om > lmuface smaliy ied nt 3 Categorie Le Asians Heth sane an et nara > Insurance promotes Trade and Commerce. . | 2) Need for surance surance ©) How isizance works 8) Chases of isirance | The Correct Option 8. “The Consideration, Pad by the Proposer, othe Ine, fr bering he Rik ts krowm as, Premium, Answer toTY2 The Corect Option 8. ‘The Maximum Foreign Direc Investment (FD wo Answer to TY 3 ‘The Correct Option iC ach Car-Owner wil be required to contrbuted Prenism oftupees 300 The seas cs Sets 1500 a per Ca pes 100 slowed in surance, nda, pes 200070 Ones ies Fenner me e aoe oT ‘The Correct Option is C. € Ye assurance Companies cover the Rik of Un pected Ear Death and ata thems © Lv Teo Long (ension as). e AnsmeroTY'S The Correct Options, e Importers and Expats, facing the Rts related to Frelgn Trade, are covered by Export ret and Guarantee Crparation C6. 2 Wit alo aes Conga? a 1, Gv snot (4. E Lretnarnee Cnerton CL) I E: ont nc omy Le . B, Untold ae aan ined a «| (uesion2 cha he Fi Conpn can ie surance uses a? 1 iis Eautae Bombay aunt oferta ie nwanee Company Bharat sane Cpa Questions 7 r c Thee are 100 Persons in a Vilage, Oh an Average, Evry Yer, 4 Pavone. The Econamic Value of ach Person Rupees 25,000 How much wl be tre Presum, q ‘eclred to be contred by Each Person, to stile the Lesses of the Famiies of I cf A apes 00 2B Ripoes 100) “ ok© Rupees 1, s00r-, D_ Rupees 2,000 Question 4 port Credit and Guarantee Corporatio (E..6.C,) is owned by ~ A” Genera insurance Corporation (61. finda All, Private and Publi Life Insurers © Government All Private and Pubic, General Insurers Questions ‘Te Life Insurance Corporation (LILC.) of nin was formed on AT January, 1956 BF September, 1956 © January, 947 D A" September, 1947 “The Correct Option Is A. ‘General Insurance Corporation (6...) of Ina 2 Re-Insrance Company. Answer-2 “The Correct Answer. Oftental Life insurance Company was the Fest Company, to conduct Life Assurance Busines in Ina Te was set up in Kolkata inthe Yeor: 1818, newer Te Correct roves ra 4 hiss the to, be Tt Ls wl epes 2500 = 4 pes 109808 The 1 Bera. a be shred 0 Per, Each een Aes tcRoees 18,00 180 Raps 120 Answer “The Correct Answer C sport Crit Gurarge Corporation (E.G. of India Umited fs owned by overnent Answers ‘The Correct Answer fe nsrance Crpration (LC) of na wa formed on 1 September 1956,