Insurance and Risk Management — Winter 2020

Elaborate concept of underwriting. Which are requisites of good insurance in detail. underwriting?

Which points should be considered at the time of claim settlement of fire insurance policy? Elaborate all points in detail.

Define: TPA’s. At time of claim evaluation and settlement judgment given by TPA’s is consider as final. Do you agree with this statement? Justify it.

To secure and procure health one must have health insurance policy. Support your answer with Jeevan Aastha and Jeevan deep policy.

To evaluate insurance company financial performance, being an evaluator which financial ratios will consider by you. Support your answer with hypothetical figures relating to ratios.

Write detail note on IRDA as a controlling mechanism for insurance company.

What is reinsurance? Analysis role of Re-insurers any two techniques of reinsurance in detail.

“In GLOCAL time insurance industry faces many issues and challenges for development.” Do you agree with this statement?1

Mr. Kabir takes out a fire policy on his house valued at Rs. 24 lakhs with two insurance companies. He insures it for Rs.12 lakhs with each company. When the house is partially damaged in a fire, the loss is estimated at Rs. 6 lakhs. He claims Rs. 6 lakhs each from the two insurers. Kindly justify following.

Shown your calculation for each company’s claim amount to the Mr. 5. Kabir.

In above case is TPA’s needed? Justify your answer with TPA’s 5. agreement with insurance company.

Mr. Rajveer, while riding a horse, fell on the ground and had his leg broken, he was lying on the wet ground for a long time before he was taken to hospital. Because of lying on the wet ground, he had fever that developed into pneumonia, finally dying of this cause.

Which principle of insurance is applicable in above case? Justify your 5.5 answer with logical reasoning.

Which claim will receive by the family member on behalf of Mr. 5. Rajveer?2