“A STUDY ON IMPACT OF TERRORIST INSURANCE

CLAUSE ON INDIAN ECONOMY”

Project Submitted to

Dr. Homi Bhabha State University for partial completion of the degree of
Bachelor of Banking & Insurance (Hons.)

Under the Faculty of Commerce

Submitted By

SAHIL SANTOSH PUJARI

TYBBI SEM - VI

ROLL NO. 66

Under the Guidance of

DR. JHARNA KALRA

(M.Com , MMS)

SYDENHAM COLLEGE OF COMMERCE AND ECONOMICS

“B” Road, Churchgate, Mumbai – 400020

ACADEMIC YEAR : 2023 - 2024

“A STUDY ON IMPACT OF TERRORIST INSURANCE CLAUSE ON
INDIAN ECONOMY”

Project Submitted to

Dr. Homi Bhabha State University for partial completion of the degree of
Bachelor of Banking & Insurance (Hons.)

Under the Faculty of Commerce

Submitted By

SAHIL SANTOSH PUJARI

TYBBI SEM - VI

ROLL NO. 66

Under the Guidance of

DR. JHARNA KALRA

(M.Com , MMS)

SYDENHAM COLLEGE OF COMMERCE AND ECONOMICS

“B” Road, Churchgate, Mumbai – 400020

ACADEMIC YEAR : 2023 - 2024

 CERTIFICATE

This is to certify that Mr SAHIL SANTOSH PUJARI has worked and duly
completed and her/his project is entitled, “A STUDY ON IMPACT OF
TERRORIST INSURANCE CLAUSE ON INDIAN ECONOMY.” I further
certify that the entire work has been done by the learner under my guidance and
that no part of it has been submitted previously for any Degree or Diploma of
any University.

It is his own work and facts reported by his personal findings and investigations.

( Dr. Syed Mubashar Hasan) (Dr. Shriniwas Dhure)

Course Coordinator Principal

Dr. Jharna Kalra

(Internal Examiner) (External Examiner)
 DECLARATION

I the undersigned Mr. SAHIL SANTOSH PUJARI here by, declare that the
work embodied in this project work titled “A STUDY ON IMPACT OF
TERRORIST INSURANCE CLAUSE ON INDIAN ECONOMY” forms my
own contribution to the research work carried out under the guidance of

DR. JHARNA KALRA is a result of my own research work and has not been
previously submitted to any other University for any other Degree/ Diploma to
this or any other University. Wherever reference has been made to previous
works of others, it has been clearly indicated as such and included in the
bibliography.

I, here by further declare that all information of this document has been obtained
and presented in accordance with academic rules and ethical conduct.

Sahil Santosh Pujari

Roll No. 66
 CERTIFICATE

This is to certify that Mr. SAHIL SANTOSH PUJARI has worked and duly
completed his project work for the degree of Bachelors in Commerce under the
faculty of commerce in the subject of the Project and his is, “A STUDY ON
IMPACT OF TERRORIST INSURANCE CLAUSE ON INDIAN
ECONOMY” under my supervision.

I further certify that the entire work has been done by the learner under my
guidance, no part of it has been submitted previously for any Degree or
Diploma of any University. It is his own work and facts reported by his
personal findings and investigation.

Dr. Jharna Kalra

(Project Guide)

Date of Submission :
 ACKNOWLEDGEMENT

To list who all have helped me is difficult because they are so numerous and the depth is so
enormous.

I would like to acknowledge the following as being idealistic channels and fresh dimensions
in the completion of this project.

I take this opportunity to thank DR. HOMI BHABHA STATE UNIVERSITY for giving me
chance to do this project.

I would like to thank my Principal, DR. SHRINIWAS S. DHURE for providing the necessary
facilities required for completion of this project.

I take this opportunity to thank our Coordinator, DR. SYED MUBASHAR HASAN for his
moral support and guidance.

I take this opportunity to thank our Professor In-Charge, DR. KHUSHPAT SUKANRAJ JAIN,
for the moral support and guidance.

I would also like to express my sincere gratitude towards my project guide, DR. JHARNA
KALRA whose guidance made the project successful.

I would like to thank my College Library, for having provided various reference books and
magazines related to my project.

Lastly, I would like to thank each and every person who directly or indirectly helped me in
the completion of the project especially my Parents and Peers who supported me
throughout my project.
 INDEX

Chapter Name of Chapter Page No.

No.
1 - 23
1 INTRODUCTION

1.1 – Introduction to Insurance

1.2 – Components of Insurance
1.3 – Types of Insurance Policy
1.4 – Present Challenges faced by Terrorism Insurance
Sector
1.5 – Impact of Terrorism Insurance on Indian
Economy
1.6 – Benefits of Terrorism Insurance Clause on Indian
Economy
1.7 – Drawbacks of Terrorist Insurance Clause on
Indian Economy

2 REVIEW OF LITERATURE 24 - 33
3
RESEARCH METHODOLOGY 34 - 50

3.1 - Introduction

3.2 – Statement of Problem

3.3 – Objectives of the Study

3.4 – Significance of the Study

3.5 - Research Methodology

4 DATA ANALYSIS & INTERPRETATION 51 - 78

5 CONCLUSION 79 - 82
6 REFERENCES & APPENDICES 83 - 87
 List of Tables Page No.

Table 4.1 - Gender

53

Table 4.2 - Age

55

Table 4.3 - Profession

57

Table 4.4 - Monthly Income

59

Table 4.5 – Insurance Policy

61

Table 4.6 – Aware of Terrorist Insurance Cl.

63

Table 4.7 – Affected by Terrorist Activities

65

Table 4.8 – Decision Making Process

67

Table 4.9 – Familiar with Terrorist Ins. Cl.

69

Table 4.10 – Important to Business & Individual

71

Table 4.11 – Impact on Foreign Investors

73

Table 4.12 – Role of Government on T.I.C.

75

Table 4.13 – Awareness of T.I.C (Sources)

77
 List of Charts Page No.

Chart 4.1 - Gender

53

Chart 4.2 - Age

55

Chart 4.3 - Profession

57

Chart 4.4 - Monthly Income

59

Chart 4.5 – Insurance Policy

61

Chart 4.6 – Aware of Terrorist Insurance Clause

63

Chart 4.7 – Affected by Terrorist Activities

65

Chart 4.8 – Decision Making Process

67

Chart 4.9 – Familiar with Terrorist Insurance Clause

69

Chart 4.10 – Important to Business & Individual

71

Chart 4.11 – Impact on Foreign Investors

73

Chart 4.12 – Role of Government on T.I.C.

75

Chart 4.13 – Awareness of T.I.C (Sources)

77