Dear students get fully solved assignments
call us at :- 08263069601
or
Master of Business
Administration- MBA Semester 4
MF0018 –Insurance and
Risk Management- 4 Credits
(Book ID: B1319)
Assignment (60 Marks)
Note: Answer all questions (with 300 to 400 words each) must be written
within 6-8 pages. Each Question carries 10 marks 6 X 10=60
Q1. Explain the different types of pure risk and the difference between
pure and speculative risk.
Answer : Types of Pure Risks
Personal Risks
They incur losses like loss of
income, additional expenses and devaluation of property. There are 4 risk
factors affecting this:
1. Premature death. This is death
of a breadwinner who leaves behind financial responsibilities.
2. Old age / retirement. The risk
of being retired
Q2. What are voluntary and involuntary insurances?
Answer : Most private insurance
is purchased voluntarily, although some types, such as automobile insurance or
insurance on mortgages and car loans, are required by law or contracts. In many
states, the purchase of automobile liability insurance is mandatory, and if the
car is financed, the lender requires property damage coverage.
Government insurance is
involuntary under certain conditions for certain people. Most people are
required by law to participat
Q3. Explain the steps in underwriting process.
Answer : The underwriting of
life-insurance falls under a category that is different from all other forms of
insurances. When the underwriter measures risk at beginning, the company
assures a cover for 30 years or throughout life. Life assurance underwriting
must consider factors, like, medical history, family details, occupational
hazards, and person’s lifestyle.
The underwriting process for life
insurance involves the following steps:
1) Execution of field
underwriting.
Q4. Describe factors affecting claim management, and the importance of
time element in claims payment.
Answer : The factors that affect claim settlement are:
·
The risk and cause of event covered in the
policy.
·
The cause of event is directly related to the
loss, a remote cause cannot be placed in the settlement.
·
The policy should be valid
·
·
·
Q5. What
do you understand by marketing of insurance products? Write down the issues in
insurance marketing
Answer : Marketing of insurance
products is an important tool in the insurance business. The marketing of
insurance is possible in both the life insurance and the non-life insurance
departments.
Marketing of insurance products
is an important tool in the insurance business. The marketing of insurance is
possible in both the life insurance and the non-life insurance departments.
Q6. List the changes made in the third and fourth regulations in the
Insurance Regulatory and Development Authority (Investment) (Amendment)
Regulations, 2001.
Answer : This section deals with
the Insurance Regulatory and Development Authority (Investment)(Amendment)
Regulations formed in 2001.IRDA investment regulations of 2001 were amended by
the Insurance Advisory Committee to update the investment regulations for
insurance companies in India .To implement the powers granted by sections 27A,
27B, 27D and 114A of the Insurance Act, 1938 (4 of 1938), the Authority
Dear students get fully solved assignments
call us at :- 08263069601
or
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.