This article throws light upon the two types of insurance. The types are: 1. Life Insurance 2. General Insurance. Type # 1. Life Insurance: There is a life insurance council that decides entire norms relating to life insurance in India; In fact life insurance plays different type of roles. As conceived by the Life Insurance council the Life Insurance is [...]
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 [...]
This article provides notes on over and under insurance. Notes on Over Insurance: In case of over insurance a situation arises where insurance cover has been taken for the value which exceeds the actual cash value of the insured risks. It can be also known as the replacement value. In case of over insurance the insurer companies have to be [...]