This article throws light upon the two types of insurance. The types are: 1. Life Insurance 2. General Insurance. Type # 1. Life Insurance: There is a life insurance council that decides entire norms relating to life insurance in India; In fact life insurance plays different type of roles. As conceived by the Life Insurance council the Life Insurance is [...]
After reading this article you will learn about:- 1. Introduction to GIC 2. Membership Criteria of GIC 3. Major Activities 4. Insurance Portfolio. Introduction to GIC: The General Insurance Council is a statutory body under the Indian Insurance Act 1938. Section 64 C of Part II-A of the Indian Insurance Act 1938 states that there shall be two Councils of [...]
After reading this article you will learn about the meaning and types of risk retention. Meaning of Risk Retention: It is nothing than presuming that we are going to incur certain losses on a particular issue but at the same time are not willing to transfer such risks to another party. For example in an individual case a persons decides [...]