Fundamentals of Investment — DU B.A. (V.S.) Insurance Management Previous Year Question Papers

B.A. (VS) Insurance Management DISCIPLINE SPECIFIC CORE COURSE (DSC- 5.1) Fundamentals of Non-life Insurance CREDIT DISTRIBUTION, ELIGIBILITY AND PRE-REQUISITES OF THE COURSE Course Title Lectures Tutorial Practical Eligibility criteria Pre-requisite of the course 4 3 1 - Fundamentals of Non-life Pass in class 12th Learning Objectives: The course aims to familiarize students to the risks covered by non-life/general insurance. The course also provides basic understanding of the insurance cover provided by different types of general insurance policies. Learning Outcomes: After completion of the course, learners will be able to: 1. describe the need for non-life insurance products and growth of the general insurance sector 2. analyse the principles of motor & commercial property insurance to various situations of any policy holder 3. analyse the principles of personal & health insurance to various situations of any policy holder 4. analyse the principles of credit insurance to various situations of any policy holder Unit 1: Introduction 12 Hours Need of non-life insurance, types of risk & factors affecting degree of risk, scope (products: marine, motor, personal accident, travel, home, credit, health, commercial property and business interruptions, liability, miscellaneous), exposure measurement (census and exact methods, statistical modelling, expenses), rate setting, principles & basis of rating, experience rating, return of premium, insurance providers (direct market, re-insurers, brokers), application of principles of indemnity, proximate cause, subrogation & mitigation of losses. Unit 2: Marine, Fire Motor & Commercial property and Business interruption insurance Motor insurance - nature of risk, perils, rating factors, indemnity & main types of cover, recent National Consumer Disputes Redressal Commission (NCDRC) judgements. Marine insurance: Features, perils, policy bases, insured value. Fire: features, subject matter of contract, perils, scope of cover, insured value Commercial property and business interruption - risk arising from fire, theft, contingencies, types of cover provided by these policies, clauses commonly used, application of principles and practices of these policies to various situations. Unit 3: Personal & Health Insurance 11 Hours Home, household buildings, household contents, accident, travel – features, risk assessment process, process of policy management, legal basis of the contract, premium, contents of policy document, mid-term amendment, cooling off period, renewal, cancellation), type of policy, modification of cover, scope of cover. Health - purpose, nature of risk, types of policies (including indemnity, reimbursement, defined benefit), scope of cover, roles of intermediary and insurance provider. Unit 4: Credit Insurance 10 Hours