LAWS OF INSURANCE AND PRACTICE IN AFRICA


LAWS OF INSURANCE AND PRACTICE IN AFRICA

Company Secretaries have a pivot role to play in the Insurance Sector. A Company Secretary can  work as an act as a compliance officer in an Insurance Company and play an important role in ensuring compliance to complicated legal, regulatory and supervisory issues constantly, transcending various spheres of Insurance Company's operations. So, in order to build the capacity of Companies Secretaries to work as a compliance officer in Insurance Companies and to provide to supply to offer} them a specialized knowledge in Insurance laws and practice, New Syllabus Professional Program contains one  of the among the one of many} five elective papers titled ‘Insurance Law and Practice '. The students interested in thinking about enthusiastic about pursuing their career in Insurance sector may go for this subject. The syllabus and contents with this paper has bed enveloped in association of Insurance Institute of India, Mumbai.
An effort has been built to cover fully the syllabus prescribed for each module/subject. The presentation of topics may not always take exactly the same sequence as given in the syllabus. Candidates are likely to take note of all the most recent developments concerning the subjects covered in the syllabus
by talking about IRDA Circulars, Financial Dailies, Economic Journals, Latest Books and Publications on the subjects/topics concerned
Although due care has been taken in publishing this study material, yet the chance of errors,
omissions and/or discrepancies cannot be ruled out. This publication is released by having an
understanding that the Institute shall not lead to any errors, omissions and/or discrepancies
or any action taken in that behalf.
Should there be any discrepancy, error or omission noted in the research material, the Institute shall
be obliged if exactly the same are delivered to its notice for issue of corrigendum in the e-bulletin, `Student
Company Secretary '. In the event of any doubt, students may write to the Directorate of Academics in the Institute for clarification at academics@icsi.edu.
There's Open book examination with this Elective subject of Professional Programme. This is to inculcate and develop skills of creative thinking, problem solving and decision making amongst students of its Professional Programme and to assess their analytical ability, real understanding of knowledge of comprehension of facts and concepts and mastery, to simply recall replicate and reproduce concepts and principles in the examination.







Comments

Post a Comment

Popular posts from this blog

PRINCIPLE OF LOSS MINIMIZATION

PRINCIPLE OF LOSS MINIMIZATION • Under this principle it is the job of the insured to take all possible steps to minimize losing to the insured property on the happening of uncertain event. According to the Principle of Loss Minimization, insured must always try his level best to minimize the loss of his insured property, in case there is an uncertain event like a fire outbreak or blast, etc. The insured must take all possible measures and necessary steps to manage and reduce the losses in this scenario. The insured must not neglect and behave irresponsibly during such events simply because the property is insured. Hence it is just a responsibility of the insured to protect his insured property and avoid further losses. As an example:  Assume, Mr. Arvind's house is set burning as a result of a power short-circuit. In this tragic scenario, Mr. Arvind must try his level best to stop fire by all possible means, like first calling nearest fire department o
Read more

BASIC CATEGORIES OF RISK

BASIC CATEGORIES OF RISK With regards insurability, there are basically two categories of risks; 1. Speculative or dynamic risk; and 2. Pure or static risk Speculative or Dynamic Risk Speculative (dynamic) risk is a situation in which either profit OR loss is possible. Examples of speculative risks are betting on a horse race, investing in stocks/bonds and real estate. In the business level, in the daily Lesson 1  Understanding and Managing Risk  5 conduct of its affairs, every business establishment faces decisions that entail an element of risk. The decision to venture into a new market, purchase new equipments, diversify on the existing product line, expand or contract areas of operations, commit more to advertising, borrow additional capital, etc., carry risks inherent to the business. The outcome of such speculative risk is either beneficial (profitable) or loss. Speculative risk is uninsurable. Pure or Static Risk The secon
Read more

Role of insurance in Risk Management

Role of insurance in Risk Management Insurance is an invaluable risk-financing tool. Few organizations have the reserves or funds required to take on the chance themselves and pay the sum total costs following a loss. Purchasing insurance, however, isn't risk management. A comprehensive and thoughtful risk management plan is the commitment to prevent harm. Risk management also addresses many risks which are not insurable, including brand integrity, potential lack of taxexempt status for volunteer groups, public goodwill and continuing donor support. Risk Management Process Risk Management Comprises of mainly three steps (a) Risk Analysis (b) Risk Identification (c) Risk Assessment (d) Risk Planning (e) Risk Controlling Lesson 1 Understanding and Managing Risk 9 RISK ANALYSIS Risk Analysis is the method of identifying, analyzing and communicating the major risks. Risk analysis involves Once risks have alre
Read more