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Why should one take this course?

  • To have a basic understanding of the concept of insurance
  • To learn about the various types of insurance, fundamentals of risk management, insurance contracts and principles etc.

Who will benefit from this course?

  • Students of Management and Commerce
  • Finance Professionals
  • Employees with banks and financial institutions
  • Distributors / Agents
  • Anybody having interest in this subject

Insurance Syllabus

Introduction to Insurance

1. Definition of Insurance
2. Concept of Insurance / How insurance works
3. Insurance Act, 1938
4. Insurance Regulatory and Development Authority (IRDA)
5. Insurance Advertisements and Disclosure Regulations,
6. Protection of Policy Holders Interest Regulations, 2002
7. Third Party Administrators (TPA)

Fundamentals of Risk Management

1. Definition of Risk
2. Classification of Risks
3. Definition of Risk Management
4. Stages of Risk Management

Insurance Contract, Terminology, Elements and Principles

1. Contract Terminology
2. Elements of a Valid Contract – Offer and Acceptance, Consideration, Capacity, Legal Purpose
3. Distinguishing Characteristics of Insurance Contracts
4. Common clauses and sections in an insurance contract

General Insurance

1. Classification – Life Insurance & Non-Life Insurance
2. Types of Property Insurance – Fire Insurance, Marine Insurance, and Various types
of Engineering Insurance.
3. Contractor’s All Risks (CAR) Insurance
4. Marine cargo insurance
5. Features of motor insurance
6. Burglary insurance
7. Money insurance

Personal and Liability Insurance

1. Personal Insurance
2. Mediclaim Policies

3. Group Mediclaim policy
4. Personal Accident Insurance (PA)
5. Liability Insurance
6. Employers Liability Insurance
7. Public Liability Insurance
8. Professional Indemnity Insurance
9. Product Liability Insurance

Financial Planning and Life Insurance

1. Financial Planning
2. Ratios as a tool for financial analysis
3. Definition of Life Insurance
4. Law of large numbers
5. Principles of Insurance and Life Insurance

Types of Life Insurance Policies

1. Term Insurance
2. Types of Term Life Insurance
3. Whole Life Insurance
4. Endowment policy
5. Children’s policies
6. Annuities
7. Group Insurance
8. Industrial Life Assurance
9. Life insurance premium and tax benefits

Insurance Intermediaries

1. Introduction
2. Individual agent
3. Corporate agent
4. Code of Conduct
5. Broking regulations
6. Indian Insurance Market