Defining Risk and Uncertainty - Classification of risk - Sources of risk - External and
Internal Insurance - Meaning, nature and significance essential requirements and
principles of risk insurance; reinsurance; privatisation of insurance business in India;
Insurance Regulatory Development Authority – Recent Developments in the Insurance
Life Insurance - Law relating to life Insurance; General Principles of Life Insurance
Contract; Proposal and policy; assignment and nomination; title and claims; concept of
trust in life policy; LIC - Role and functions.
General Insurance - Law relating to general insurance; different types of general
insurance; general insurance Vs life insurance; nature of fire insurance ; various types of
fire policy ; subrogation; double insurance; contribution; proximate cause; claims of
recovery. Accident and Motor Insurance - Nature, disclosure, terms and conditions
claims and recovery; third party insurance; Compulsory motor vehicle insurance;
Deposit and Credit Insurance - Nature, terms and Conditions, claim, recovery etc., public
liability insurance; emergency risk insurance structure and power, function of General
Insurance Corporation of India; Deposit Insurance and credit Guarantee Corporation.
Marine Insurance - Law relating to marine insurance ; scope and nature; types of policy;
insurable interest; disclosure and representation; insured perils; proximity cause; voyage;
warranties; measurement; subrogation; contribution; under insurance.