Banks

INDUSTRY PROFILE- INSURANCE INTRODUCTION Insurance may be described as a social device to reduce or avoid risk of loss to life and post.Under the plan of restitution, a macroscopic number of people associate themselves by sharing risks connect toindividuals. The risks, which can be insured against, include fire, the perils of sea, closing and accidentsand burglary. some(prenominal) risk contingent upon these may be insured against at a premium commensurate withthe risk involved. Thus joint bearing of risk is insurance. Types Of Insurance Insurance industry in India is mostly classified as- ? Life Insurance :- policies protect individuals against the risk of life. Life  coke Insurance policies not only protects the insureds family against his death but also provides a good means to proceedstax benefit, avail loans from banks and acts, as a good saving tool to happen upon future needs. General Insurance :- on the other hand protects the property and casualty bycovering losses from disasters and accidents thereby protecting from property footing and liability, providing the means for victims to resume their lives and businesses and contribute to the economy. The various types of insurance obtainable are  1.Auto Insurance Two Wheeler Insurance Car Insurance Commercial vehicle Insurance 2.

Commercial Insurance Agriculture Insurance Fire Insurance Industrial Insurance Marine Insurance Shop Insurance 3.Home Insurance4.Life Insurance solidus Insurance a.NRI Accident Insurance b.Personal Accident Insurance Health Care Insurance c.Medical Insuranced.Critical  unsoundness Insurance Travel Insurance .HISTORY OF INDIAN INSURANCE The business of life insurance in India in its existing form started in India in the year 1818 with theestablishment of the Oriental Life Insurance Company in Calcutta. Some of the important milestones inthe life insurance business in India are: 1912: The Indian Life Assurance Companies Act enacted as the first statute toregulate the life insurance business. ? 1928 : The... If you want to put down a full essay, order it on our website: Orderessay

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