The Fundamentals of Insurance

<p>Insurance is perhaps the most effective device for managing ‘Risk’ which is a pervasive phenomenon an ever present part of our lives. We can sometimes ‘avoid’ risk or ‘reduce’ it but never entirely eliminate it.</p><p>Whether you are a Graduate student who is studying insurance as a part of your curriculum or an Executive tasked with the responsibility of managing your Organization’s Insurance and Risk Management Program this book will provide you with a strong conceptual foundation comprehensive knowledge of non-life and life insurance products and a perspective of how insurance functions as a part of the economy.</p><p>Essentially you will understand ‘why’ insurance is needed ‘what’ solutions it provides and ‘how’ different business processes and professionals work together to deliver the vital compensation to victims of disasters.</p><p>Organized in 18 Chapters comprehensive but brief and crisp it continuously relates facts to theories and concepts to processes events to their context and the ‘rule-of-thumb’ to the underlying ‘Basic Principle’. Thus insurance will be de-mystified and you will be empowered to decode “insurance speak”.</p><p>The book draws from the Author's hands-on experience in the Indian Insurance industry. However the insights and observations go beyond borders reflecting universal principles and practices of insurance that are recognized worldwide.</p>