Fundamentals of Insurance Syllabus, B.Com 5th Sem Hons, Dibrugarh University CBCS Pattern

Fundamentals of Insurance Syllabus
B.Com 5th Sem Hons
Dibrugarh University CBCS Pattern
B.Com. (Hons) CBCS Semester: V
Course No. DSE 502 G IV
FUNDAMENTALS OF INSURANCE
Marks: 100 (Internal Assessment 20 + Term End 80)
Lecture: 60 Tutorial: 4

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, Principles of Life Insurance and General Insurance        Marks 20: 15L+1T

UNIT-II: Fundamentals of Agency Law: Agents regulations; Insurance Intermediaries; Agent’s compensation. Promotional Schemes for Agents. 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. Marks 20: 15L+1T

UNIT-III: IRDA : Role of IRDA in Controlling and Regulating Insurance in India.      Marks 20: 15L+1T

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.                Marks 20: 15L+1T

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,

6)    S. Chand and Co. , New Delhi.

7)    Mishra MN: Life Insurance Corporation of India, Vols I, II & III; Raj Books, Jaipur..

8)    Nalini P. Tripathi, Prabir Pal: Insurance Theory and Practice