Insurance

INSURANCE ( FUND ) MANAGEMENT ASSIGNMENT ON * the insurance mechanism . * principles of insurance . * INSURANCE TERMS . * growth of evolution of insurance transmission line in india with specific reference to post liberalization . * players in insurance . * types of organizations . * organization in india . MECHANISM OF INSURANCE Assets be insured, be answer they ar likely to be destroyed or made non-functional onwards the expected life time, through accidental occurrences. Such executable occurrences are called perils. Fire, floods, breakdowns, lightning, earthquake, etc, are perils. If such peril can cause damage to the asset, we say that the asset is exposed to the put on the line. Perils are the events. Risks are the consequential losses or damages. The risk to a proprietor of a make, because of the peril of an earthquake, may be a a few(prenominal) lakhs or a few crores of rupees, depending upon the cost of the building, the contents in it and the extent of damage.  The risk only means that there is a possibility of loss or damage. The damage may or may non happen. The earthquake may occur, but the building may not have been affected at all.

restitution is done against the possibility that damage may happen. There has to be an scruple about the risk. The word possibility implies uncertainty. Insurance is relevant only if there are uncertainties. If there is no uncertainty about the occurrence of an event, it cannot be insured against. In the elusion of a human being, dying is certain, but the time of the death is uncertain. The person is insured, because of the uncertainty about the time of his death. In the causal agency of a person who is terminally ill, the time of the death is not uncertain, though not exactly known. It would be soon. He cannot be insured.  Insurance does not protect the asset. Its does not celebrate its loss due to the peril. The peril cannot be avoided through insurance. The risk can sometime be avoided, through... If you want to get a full essay, order it on our website: Ordercustompaper.com

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