Category: Insurance

Insurance Ombudsman/Insurance Ombudsman Scheme in India

The Insurance Ombudsman Scheme was created by Government for individual policyholders to have their complaints settled out of the courts in a cost-effective, efficient and impartial way. There are 12 Insurance Ombudsman in different locations and anyone can approach the one…

Insurance – A Basic Need

Insurance is a basic need and requirement for all human being. It gives you and your family the guaranteed protection from all types of difficulties. Insurance works as the guarantee card. It gives you the guarantee of giving a predetermined amount/sum…

What is Insurance? Functions of Insurance

Life is full of uncertainties. The chances of occurrence of an event causing losses are quite uncertain. There are risk of death and disability for human life; fire and burglary risk for property; perils of the sea for shipment of…

Principles of Insurance-7 Principles of Insurance

The principles of insurance are the rule of action or conduct adopted by the stakeholders involved in the insurance business. The specific principles of a valid insurance contract consist of the following: Utmost good faith: A contract of insurance is…

Companies & Intermediaries in Insurance Sector

Insurance sector could push investment sentiment in positive direction as the expectation to passes of Insurance laws (Amendment) bill, 2008 is high in India in 2013. The Insurance laws (Amendment) bill, 2008 has designed to raise foreign investment cap from…

Insurance Laws (Amendment) Bill ‘2008

The Insurance laws (Amendment) bill, 2008 has designed to raise foreign investment cap from 26% to 49%.Passes of this bill is necessary for Insurance sector as this sector will need more capital in the future .Over the next five years…

Property Insurance

Insurance of property means insurance of buildings, machinery, stocks etc against Fire and Allied Perils, Burglary Risks and so on. Property Insurance is a very vast category of General Insurance and the type of cover depends upon the type of…

Travel Insurance

Travel Insurance offers insurance protection when you travel. Travel Insurance may be called by different names by insurance companies. It is important for a person or customer to check and understand whether the policy covers domestic travel or overseas travel…

Motor Insurance in India

  Motor Insurance gives protection to the vehicle owner against the damage to his/her vehicle and pays for any third party liability determined as per law against the owner of the vehicle. Driving a motor vehicle without insurance in a…