INSURANCE

WHAT ARE THE WHAT IS THE

WHAT IS
TYPES OF HISTORY OF
INSURANCE ?
INSURANCE ? INSURANCE ?

INDEX WHAT ARE WHICH ARE THE

WHAT IS
INSURANCE
PRINCIPLES OF COMPANIES OF
IMPORTANCE OF
INSURANCE ? INSURANCE ?
INSURANCE ?

WHAT ARE THE

ANECDOTES AND PIE CHARTS
INTERRESTING ON
CAUSES OF INSURANCE
INSURANCE ?
 WHAT IS
INSURANCE
 Insurance is a means of
protection from financial loss.
It is a form of risk
management, primarily used
to hedge against the risk of a
contingent or uncertain loss.
An entity which provides
insurance is known as an
insurer, an insurance
company, an insurance carrier
or an underwriter
WHAT ARE THE TYPES
OF INSURANCE?
Life Insurance or Personal
Insurance.
Property Insurance.
Marine Insurance.
Fire Insurance.
Liability Insurance.
Guarantee Insurance.
Social Insurance
WHAT IS HISTORY OF INSURANCE IN
INDIA ?
 INSURANCE HAS A MENTION IN THE WRITING OF MANU,
YAGNAVALKYA,KAUTILYA.
 DEVELOPED OVERTIME BY DEVELOPMENTS OF ENGLAND AND ORHER
COUNTRIES .
CHRORNOLOGICAL SEQUENCE OF EVENTS IN INDIAN INSURANCE
SCENARIO.
 1818- ORINTAL LIFE INSURANCE COMPANY IN CALCUTTA .
 1829-MADRAS EQUITABLE IN MADRAS RESIDENCY .
 1850-TRITON INSURANCE COMPANYLTD IN CALCUTTA.
 1870- BRITISH INSURANCE ACT ENACTED .
 BOMBAY MUTUAL, ORIENTAL(1874)EMPIRE OF INDIA (1897)IN BOMBAY .
 1896 – BHARAT INSURANCE COMPANY LTD IN DELHI.
 1907 – INDIAN MERCANTILE INSURANCE LTD.
 WHAT IS THE IMPORTANCE OF
INSURANCE?
PROTECTION OF MONEY .
HELP IN FINANCIAL PLANNING.
MONEY SAFTEY.
EASY COVERAGE OF MONEY.
TAX BENEFITS .
MEDICAL SUPPORT .
HINDRANCE OF RISK .
WHICH ARE THE INSURANCE COMPANIES IN
INDIA
BAJAJ ALLINAZ INSURANCE LTD.
BIRLA SUN INSURANCE LTD.
HDFC ERGO INSURANCE LTD
EXIDE LIFE INSURANCE.
ICICI PRUDENTIAL LIFE INSURANCE.
LIFE INSURANCE COOPERTATION
SBI LIFE INSURANCE LTD
MAX LIFE INSURANCE
TATA LIFE INSURANCE LTD
 WHAT ARE THE PRINCIPAL OF
INSURANCE ?
INSURABLE INTEREST.
UTMOST GOOD FAITH.
PROXIMATE CAUSE.
INDEMNITY.
SUBROGATION.
 CONTRIBUTION.
 
 PRINCIPLES OF INSURANCE
Utmost Good Faith: According to this principle, both insurer and
insured should enter contract in good faith.
Insurable Interest: The insured must have an insurable interest in
the subject matter of insurance. Insurable interest means some
pecuniary interest in the subject matter of the insurance contract.
Indemnity: Indemnity means security or compensation against loss
or damages.
Causa Proxima: The word ‘Causa Proxima’ means ‘nearest cause’.
According to this principle, when the loss is the result of two or
more cause, the proximate cause, i.e., the direct.
 WHAT ARE THE ANECDOTES AND INTERRESTING
CAUSES OF INSURANCE ?

• Life insurances have now become a part of the everyday life with more
and more people trying to cover the increasing medical costs via life
insurances.
•
With its rise in popularity, there has also been an increase in the number
of fraudulent cases.
•
Many such cases have since then been used in films and books.
•
Some of the well-known examples of such films are the last
seduction(1994), Sleuth(1972) and A life at stake(1954)
PIE CHARTS ON INSURANCE
 THANK YOU, EFFORTS
BY ARYA MANCHANDA
XI-F