Description

SYLLABUS

MODULE – I:

(1)    Introduction to Principles of Insurance and Insurance Market:

• History of Insurance in India, Insurance – Meaning, Definition, Functions, Nature and Principles of Insurance – Insurance Contract – Importance of Insurance to Society, Individuals, Business and Government.
• Features of Insurance Market in India, Types of Insurance – Life Insurance and General Insurance, Insurance Customers, Insurance Terminology. Organizational Structure, Functional Process, Distribution Channels, Distribution Channels in Insurance.

(2)    Life Insurance and General Insurance:

• Life Insurance: Meaning and Features of Life Insurance Contract – Classification of Policies, Life Insurance Planning, Financial Planning and Life Insurance, Life Insurance – Claims Management.
• General Insurance: Meaning and Features of General Insurance Contract – Types of General Insurance, Fire Insurance – Meaning, Nature and Use of Fire Insurance-Fire Insurance Contract, Kinds of Policies – Policy Conditions, Marine Insurance – Meaning and Nature of Marine Insurance, Classification of Policies, Policy conditions, Personal Accident Insurance, Motor Insurance, Liability Insurance – Bancassurance.

MODULE – II:

(3)    Regulations of Insurance Business:

• Development of Insurance Legislation in India and Insurance Act 1938, Insurance Regulatory and Development Authority of India (IRDAI), IRDAI and Its Functions, Protection of Policyholders Interest, Dispute Resolution Mechanism, International Trends in Insurance Regulation, Code of Conduct for Insurer, Basics requirements of the licensing regime for regulation of Insurance Intermediaries, Grant of License.

(4)    Ethical Issues and Rating Practices:

• Insurance Intermediaries duties to policyholders, Protection of Personal Data, Prevention of Insurance Fraud.
• Rating Practices, Premium Payment Regulations, Claim Procedure and Management, Survey and Assessment.