Types of

Insurance
 Types of Insurance
Life Insurance General Insurance
Fire Insurance

Marine Insurance

Automobile Insurance

Accidental Insurance

Fidelity Insurance

Employee Insurance

Livestock Insurance

Credit Insurance

Aviation Insurance
 Types of Insurance
LIFE INSURANCE

 Life insurance is a contract between an

insurer and policyholder specifying a
sum to be paid to a beneficiary upon the
insured’s death or on completion of
definite period.
 A beneficiary is the recipient of any policy proceeds if
the insured person dies.
 Types of Insurance
LIFE INSURANCE

 Life Insurance provide protection for the

financial loss associated with pre-mature
death

 Living in Old age with exhausting financial problem

may be turned as benefit by having Life Insurance
policy type i-e Annuity,
 Types of Insurance
FIRE INSURANCE

 Fire Insurance is a contract whereby insurer

undertakes to indemnify the assured from loss
caused by fire.

 Insured must have to disclosed

the material facts of the subject
matter before the insurer
 Types of Insurance
FIRE INSURANCE

 Fires are classified as

• Friendly Fires & Hostile Fires

 Associated Perils
• Electric Short Circuit, Explosion, Smoke, Vehicle

 Business Interruption
• Substitute for Business Operations, Compensation
 Types of Insurance
MARINE INSURANCE

 Marine Insurance is a contract whereby insurer

undertakes to make payment of sum assured against
the losses caused by incident of marine adventure

• Hull Insurance
• Cargo Insurance
• Freight Insurance
 Types of Insurance
MARINE INSURANCE

 Marine Insurance provides protections against perils

of seas, Fire, Pirates, damage of shipped goods, etc

 Marine Insurance can be

obtained by:
• Marine Insurance Company

• Lloyds Underwriters
 Types of Insurance
AUTOMOBILE INSURANCE

 Automobile Insurance is an arrangement between

an insured and insurer to protect the individual
against risk from automobile loss or theft

 Automobile Insurance is
provided as FAP (Family
Automobile Policy)
 Types of Insurance
AUTOMOBILE INSURANCE

 Automobile Insurance may involves many perils as

benefits over losses,
• Medical expenses, Lost income & services, Vehicle
damage, Property Damage, Funeral Expenses, etc

• Uninsured Motorists Insurance

covers injury or damage to the
driver, passengers, or the vehicle
caused by a driver with
insufficient insurance
 Types of Insurance
ACCIDENTAL INSURANCE

 Accidental Insurance is contract where insurer

undertake to provide complete financial protection to
the insured members against uncertainties such as
accidental death, accidental bodily injuries, and
partial/total disabilities, permanent as well as
temporary disabilities resulting from an accident.
 Types of Insurance
ACCIDENTAL INSURANCE

Individual Accident Insurance:

This type of policy guards an individual
in case of any accidental damage.

Group Accident Insurance:

Group Accident Insurance is taken by
employers to get coverage for their
employees. However, this is a very basic
plan and may offer limited benefits
compared to an individual plan.
 Types of Insurance
FIDELITY GUARANTEE INSURANCE

A Fidelity Guarantee insurance insure or

guarantees the employer if he suffers any
direct financial loss arising out of the
employees dishonesty

Fidelity Guarantee Insurance embraces

Policies indemnifying employers against
pecuniary losses on account of forgery,
defalcation ,embezzlement and fraudulent
conversion by employees
 Types of Insurance
FIDELITY GUARANTEE INSURANCE

Fidelity Guarantee Insurance Types

 Commercial Guarantee:

 Court Bonds

 Government Bonds

 Local Government Bonds

 Types of Insurance
EMPLOYER’S LIABILITY INSURANCE

Employer’s Liability Insurance protects

employers from financial loss if a worker
has a job-related injury or illness not
covered by workers' compensation.

Employer’s Liability
Employers Liability ensures that your
staff can claim in the event of accident or
injury and that the money is available to
meet these claims.
 Types of Insurance
EMPLOYER’S LIABILITY INSURANCE

Employer’s Liability Insurance Laws

 Employer’s Liability Act 1880

 Workmen Compensation Act 1923

 National Insurance Industrial Injuries 1946

 Types of Insurance
LIVESTOCK INSURANCE

The livestock Insurance has emerged as a

savior over the years for landless, small
and marginal farmers, and for those
whose major occupation is dairying

This insurance is typically used to cover

domesticated animals such as cattle,
sheep, pigs, and horses.
 Types of Insurance
LIVESTOCK INSURANCE

Assignment

Livestock Insurance
Business in Pakistan
 Types of Insurance
CREDIT INSURANCE

Credit Insurance insures companies

against the risk of non-payment by
their customers as result of
commercial or political risks

Risk Associated are

Insolvency, default, War, Natural
Disaster, Import License Cancelation
etc
 Types of Insurance
CREDIT INSURANCE

Credit Insurance usually covers:

 Payment Risks
 Commercial Risk
 Types of Insurance
AVIATION INSURANCE

Aviation insurance is a policy that offers property and

Liability coverage for aircraft.
It covers losses resulting from aviation risks that come about due
to the maintenance and use of aircraft, property damage, loss of
cargo, or injury to people.

• Engine Failure
• Structure Damage
• Cyber Attack
• Lightening
• Bird Strikes
 Types of Insurance
AVIATION INSURANCE

Types of Aviation Insurance:

1. PUBLIC LIABILITY INSURANCE

2. PASSENGER LIABILITY INSURANCE

3. GROUND RISK HULL INSURANCE NOT IN MOTION

4. GROUND RISK HULL INSURANCE IN MOTION

5. IN-FLIGHT INSURANCE