Insurance is a heavily regulated field with detailed contract law stipulations. One can infer that risk and insurance are inter-woven with each other. Insurance as a mechanism is the outcome of the very subsistence of different types of risks that are being encountered by the individuals in their day-to-day life. Conversely, it does not purge risks, but ensures to reduce the monetary hammering caused by a particular risk. For that reason, insurance has turned out to be an imperative subject in the current scenario. ‘INSURANCE’ curtails the corollary effects when an individual plans to avert the risk in a prudent manner. This book is an endeavor to make a comprehensive breakdown of the notion of risk and insurance.
- This book strives to explicate the concept of risk and the methods of managing it in conjunction with prominence to risk management.
- It also endows a meticulous analysis of the conception of Insurance and explicitly deals with the nature, scope, advantages, principles and various types of insurance.
- The author elucidates the legal angle of insurance, relevant parameters and the impact of various legislations over insurance.
- It discusses about the objective, concept, causes, classification and the management of risk. It strives to draw a line between risk, perils and hazards and also deliberates the methods through which risk could be maneuvered.
- Additionally, this book encompasses different types of insurance viz., life insurance, its products and documents; fire insurance; marine insurance; motor vehicle insurance; miscellaneous insurance and the same have been meticulously discussed in various chapters. In the end of the book, legal framework regarding insurance has also been touched upon scrupulously.