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Thursday, October 08, 2020

INSURANCE SYLLABUS | AHSEC CLASS 12 SYLLABUS | 2020 - 21 | REVISED AND REDUCED

INSURANCE

SYLLABUS FOR HIGHER SECONDARY FINAL YEAR COURSE

One Paper - Time - Three Hours - Marks 100

Introduction:

The increasing complexity of business organisation and the risk involved in the present day world makes it obligatory for students choosing commerce as a career to be conversant with the principles and practice of insurance. A study of these principles and practice will make the students aware of the function of insurance in general and the purpose of its business in particular.

The present syllabus of insurance paper for Higher Secondary First Year and Second Year class is framed in such a way that it covers the entire course of study within the prescribed time limit of the Council. The topics included in the course of study are expected to be helpful to the student who wishes to pursue higher studies in the subject and also provide opportunity to those who wish to choose careers in insurance.

As such the major objectives of teaching insurance at Higher Secondary stage are as follows:

1.         To acquire knowledge and understand various definitions, concepts, terms and insurance principles.

2.         To acquaint the students with practice and procedure of insurance business.

3.         To create an awareness of the necessity of insurance in business as well as in the society.

4.         To give fundamental knowledge regarding organisation and operation of insurance business.

5.         To understand the importance of insurance and its scope in modern business.

INSURANCE

SYLLABUS FOR HIGHER SECONDARY FINAL YEAR COURSE

One Paper                                                      Three Hours                                                   Marks 100

Unit wise Distribution of Marks and Periods:

Unit No.

Title

Marks

Periods

Unit-l

General Insurance Act

10

20

 

FIRE INSURANCE

 

 

Unit-2

Unit-3

Unit-4

Fundamental Principle of Fire Insurance

Fire Insurance Policies

Procedure of Claims

10

10

10

20

20

20

 

MARINE INSURANCE

 

 

Unit-5

Unit-6

Unit-7

Fundamental Principle of Marine Insurance

Types of Marine Insurance Policies

Marine Losses and Claim

10

10

20

20

20

40

 

MISCELLANEOUS INSURANCE

 

 

Unit-8

Introduction and Classes of Miscellaneous Insurance

20

40

 

Total

100

200

 Unit wise Distribution of Course contents:

Unit-1 : General Insurance Act :

1)         Marine Insurance Act 1963.

2)         General Insurance Business (Nationalization) Act 1972 Organization and its working GICI and its subsidiaries.

FIRE INSURANCE

Unit-2: Fundamental Principles of Fire Insurance:

Introduction- definition-meaning and causes of Fire, Functions of Fire Insurance, History of Fire Insurance. Fundamental Principles– utmost good faith, insurable interest, indemnity and Subrogation. Distinction between Fire insurance and gambling, Fire insurance and life insurance.

Unit-3: Fire Insurance Policies:

Procedure for taking out a Fire insurance policy; Renewal of Policy, cancellation and assignment of a Fire insurance policy. Proposal Form, classification of risks, Fire tariff and fixation of rate of premium.

Unit-4: Procedure of claims:

Procedure for recovering claim under fire policy. Effects of more than one fire and one policy on claim, Ex-gratia payment, Rating and average condition and its effect on claim.

MARINE INSURANCE

Unit-5: Fundamental Principles of Marine Insurance:

Meaning and definition of Marine insurance contract. Subject matter of Marine Insurance policy, Origin of Marine insurance. Principles of Marine insurance policy. Distinction between Marine insurance and Life insurance and Fire Insurance.

Unit-6: Types of Marine insurance policy:

Different types of Marine insurance policy, Clauses in a marine insurance policy, Bottomry Bond, Respondentia Bond.

Unit-7: Marine Losses and Claims:

Types of Marine losses- total loss, actual total loss, constructive total loss, partial Loss, Particular loss and general loss. Procedure for making a claim under marine policy. Distinction between actual and constructive total loss, Partial losses, Particular Average loss and general average loss.

Unit-8: Miscellaneous insurance and classes of miscellaneous insurance:

Personal accidental insurance, definition and feature of personal accidental Insurance. Motor vehicle insurance, Burglary insurance, Credit insurance, Fidelity insurance and employer liability insurance, Mediclaim.

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