Tuesday, December 18, 2018

Dibrugarh university - B.Com 4th Semester: Fundamentals of Insurance Syllabus


Course No.403 : FUNDAMENTALS OF INSURANCE(FINS XV)
Marks: 80 Hours: 40
Objective: This course enables the students to know the fundamentals of insurance.
Course Contents:
UNIT-I: Introduction to insurance: Purpose and need of insurance; Insurance as a social security tool; Insurance and economic development, Fundamentals/Principles of Life Insurance and General Insurance          20 : 10 hrs
UNIT-II: Fundamentals of Agency Law: Definition of an agent; Agents regulations; Insurance Intermediaries; Agent’s compensation. Promotional Schemes for Agents- Agents’ Club Membership.                           20 : 10 hrs
UNIT-III: Procedure for becoming an Agent: Pre-requisites for obtaining a license; Duration of license; Cancellation of license; Revocation or suspension/termination of agent appointment; Code of conduct; Unfair practices.                        20 : 10 hrs
UNIT-IV: Functions of the Agent: Proposal form and other forms for grant of cover; Financial and medical underwriting; Material information; Nomination and assignment; Procedure regarding settlement of policy claims. Hazards- Physical hazards, Moral Hazards.                 20 : 10 hrs
Text and Reference Books::
1. Mishra M.N.: Insurance Principles and Practice; S. Chand and Co, New Delhi.
2. Insurance Regulatory Development Act. 1999.
3. Life Insurance Corporation Act 1956.
4. Gupta OS: Life Insurance; Frank Brothers, New Delhi.
5. Vinayakam N., Radhaswamy and Vasudevan SV; Insurance- Principles and Practice,
S. Chand and Co. , New Delhi.
6. Mishra MN: Life Insurance Corporation of India, Vols I, II & III; Raj Books, Jaipur..
7. Nalini P. Tripathi, Prabir Pal: Insurance Theory and Practice

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