Insurance and Risk Management — Winter 2022

What is Insurance? Explain Various types of Insurance Explain Power and Functions of IRDA

What is Re-insurance? Critically Explain the Role of Re-insurers

Explain Various Principles of Insurance

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Briefly Discuss the Role of Insurance Industry During the Pandemic Situation

To evaluate insurance company financial performance, being an evaluator which financial ratios will consider by you.07

What is Health Insurance? Explain various Benefits of Health insurance

Explain Various Types of General Insurance offered in the Market

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Elaborate concept of underwriting. Which are requisites of good underwriting?

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Define Risk? Explain the classification of Risk in detail.07

How is Insurance different from hedging? Explain in Detail Page 1 of Read the following case and answer:

“Mr. Manoj took a policy in February 2008. He died within two years, in August 2009. The insurer investigated the claim and found that he had consulted a doctor, and had taken medicine on various occasions in 2006, 2007 and 2008. In the proposal for the question: Have you within the past five years consulted any medical man for any ailment not necessarily confining to your house? The response given was ‘NO’. The insurer repudiated the claim alleging that the insured had deliberately suppressed facts about his illness which was a material fact. When the issue was taken to court, the insurer could prove that the insured had been taking medicines and injections but not that he was suffering from any particular disease. The doctor who gave evidence about the medicines taken also stated ‘the diseased was usually of neurasthenic type, that his condition was almost normal. Occasionally took medicines from him and used to make much fuss about even small ailments, and he would be quite upset over such small ailments.’ The judgment was in favour of the claiment.” Hyperchondria: an abnormal condition characterized by a depressed emotional state and imaginary ill health, referable to the physical condition of the body or one of its parts. Is it a case of non-disclosure of material facts by the insured? Explain the answer with proper

Justification If yes, what made the Court to decide the case in favour of the insured?

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Explain the benefits of Taking Insurance in this case07