After reading this article you will learn about:- 1. Meaning of Insurance 2. Definition of Insurance 3. Nature 4. Basic Types 5. Need 6. Characteristics 7. Working 8. Functions. Meaning of Insurance: If one goes by the word meaning insurance is a contract between two parties whereby the insurer agrees to indemnify the insured upon the happening of a stipulated [...]
After reading this article you will learn about the evolution of insurance industry. The insurance industry as we see it today is modern and advance stage which has been attained in a phased manner over a long period. Insurance is basically a financial service as such it grew up like a financial sector on the analogy of banking. Like banking [...]
After reading this article you will learn about the meaning and types of reinsurance. Meaning of Reinsurance: Reinsurance means where a risk is considerable any insurance company would like to insure the risk up to a certain amount themselves. And put the excess risk out to a re-insurance company, or to a more than one, on the principle of diversifying [...]