Category Archives: insurance

RE INSURANCE

By | Published: February 17, 2010
Insurance companies are taking risks. They have to pay claims as and when they occur. They cannot be sure when the claim will occur and how big the claim will be. This is so because of the very nature of perils. Insurers normally financially sound enough to be able pay claims. But there are limits. [...]
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Insurance as Social Security Tool

By | Published: February 17, 2010
The United Nations Declaration of Human Rights 1948 provides that “Everyone has a right to a standard of living adequate for the health and well being of himself and his family, including food, clothing, housing and medical care and necessary social services and the right to security in the event of unemployment, sickness, disability, [...]
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Role of Insurance in Economic Development

By | Published: February 17, 2010
For economic development, investments are necessary. Investments are made out of savings. A life insurance company is a major instrument for the mobilization of savings of people, particularity from the middle and lower income groups. These savings are channelled into investments for economic growth. The insurance Act has strict provisions to ensure that insurance funds [...]
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business of insurance

By | Published: February 17, 2010
Insurance companies are called insurers. The business of insurance is to bring together persons with common insurance interest, collect the share or contribution from all of them and payout compensations to those who suffer from the risks. Life insurance includes all risks related to the lives of human beings and general insurance covers the rest. General [...]
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