Insurance Industry Indian free essay sample

In the year 1993, Malhotra Committee was formed which initiated reforms in the Indian Insurance Industry. The aim of which was to assess the functionality of the industry. It was incharge of recommending the future path of insurance in India. It even attempted to improve various aspects, making them more appropriate and effective for the Indian market. In the year 1999 The Insurance Regulatory and Development Authority Act was formulated which brought about several crucial policy changes in the India. In 2000 it led to the formation of the Insurance Regulatory and Development Authority. The goals of IRDA are to safeguard the interests of insurance policyholders, as well as to initiate different policy measures to help sustain growth in the industry. This Authority has notified 27 Regulations on various issues like Registration of Insurers, Regulation on insurance agents, Re-insurance, Solvency Margin, Obligation of Insurers to Rural and Social sector, Investment and Accounting Procedure, Protection of policy holders interest, etc. We will write a custom essay sample on Insurance Industry Indian or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Brief introduction Indian Insurance Industry is flourishing with several national and international players competing and growing at rapid rates. The success comes usually from the easing of policy regulations, and India has become more familiar with different insurance products and the period from 2010 2015 is projected to be the Golden Age for the Indian insurance industry. | Indian Insurance companies today offer a comprehensive range of insurance plans, a range which is growing as the economy matures and the wealth of the middle classes increases. The most common types of insurance includes: term life policies, endowment policies, joint life policies, whole life policies, loan cover term assurance policies, unit-linked insurance plans, group policies, pension plans, and annuities. Those like the General insurance plans are also available to cover motor insurance, home insurance, travel insurance and health insurance. | Types of Insurance 1. Life Insurance is all about guaranteeing a specific sum of money to a designated beneficiary upon he death of the insured, or to the insured if he or she lives beyond a certain age. 2. Health Insurance it is Insurance against expenses incurred through illness of the insured or the person who takes up the insurance. 3. Liability Insurance usually insures property such as automobiles, property and professional/business mishaps and others. Market capitalization Indian Insurance Industry is a colossal one which is growing at the rate of 15-20%. Today the Insurance Industry together with bankin g services add about 7% to the countrys GDP. A well-developed and evolved insurance industry is a boon for economic development which provides long- term funds for infrastructure development at the same time strengthening the risk taking ability of the country. | | Size of the industry | According to the Life Insurance Council, the Indian life insurance industry is considered the fifth largest life insurance market with US$ 41-billion amp; growing at a rapid pace of 32-34% annually. In March 2010 the Life Insurance Corporation of India (LIC) registered an 83% increase in new business income, while private players posted a 47% growth in new business premium. According to IRDA, the insurers in the year 2009-2010 sold 10. 55 million new policies with LIC selling 8. 52 million and private companies 2. 03 million policies. In the year March 2010, LIC held 65% market share in terms of new business income collection with the private sector contributing the remaining 35% share in 2009-10. | Total contribution to the economy/ salesIndian Insurance Industry is one of the booming Industries of the economy and is growing at the rate of 15-20 % per annum. Along with banking services, it contributes to about 7% to the countrys GDP. Insurance is being a federal subject in India and which is governed by Insurance Act, 1938, the Life Insurance Corporation Act, 1956 and General Insurance Business (Nationalization) Act, 1972, Insurance Regulatory and Development Authority (IRDA) Act, 1999 and other related Acts. Top leading CompaniesToday in India more multinational companies have come forward in the insurance field. ICICI Prudential, Om Kotak Mahindra, Birla Sun-Life, Tata AIF Life, Reliance, HDFC Standard Life-Insurance Co. , Max New York Life, SBI Life Insurance, ING Vysa Life etc. are the top companies in the private sector. For the non-life Insurance section the major private players are ICICI Lombard, Royal Sandaram, Cholamandalam, IFFCO Tokyo, Tata AIG etc. All the Insurance companies come under the Insurance Regulatory and Development Authority (IRDA) which is established to regulate, promote and ensure orderly growth of Life and General insurance industry in India. Employment OpportunitiesTo pursue a career in Indian Insurance Industry, the candidate should pass the entrance examination conducted by the Actuarial Society of India, Mumbai. The students who pass 10 + 2 or equivalent exam are eligible. There is requirement of License to work in this field which can be achieved through a training programme. The Indian Insurance Institute conducts Licentiate, Associateship and Fellowship plus other training programmes for insurance services. The Licentiate examination can be given in Hindi and English on life and non life branches. Subjects usually covered are Principles of Insurance, Practice of Life Assurance and Insurance Business Environment for the life branch and for the non life branch you need to take up Practice of General Insurance instead of Practice of Life Assurance.

Rich man, poor man Review Essay Example

Rich man, poor man Review Paper Essay on Rich man, poor man The first thought that visited me after reading this book what I could come up with, in order not to return the book to the library? The book is still in me, and I want everyone to know Ill give her thanks only to you, the readers, but to transcend themselves So what made arisen such thoughts in my head ?!. What attracted me to this author? First, I came across a book where the quality of the translation at the level of aerobatics. We must pay tribute, at the time when the book was worth 3p. 90 in., Translators did their work at a premium. Here, every member of the Club knows the first thing that can be lost in translation is humor. It is worth noting an important detail that seem ridiculous on one continent can cause resentment on the other. How to manage to reconcile all, known only to the creators of the translation. You may ask is that humorous stories? No, I just, I can not read books, which submitted a very important life issues with large-scale narrative tediousness! Before I reach deeper idea of ​​the author, which is inherent in youthful enthusiasm. We will write a custom essay sample on Rich man, poor man Review specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Rich man, poor man Review specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Rich man, poor man Review specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Second, I found an author who meets all my requirements to quality fiction. You know how it is that I have for the lyrical mood, and this for prosaic. We show the same, live the plot, do not let go, and with interest has a private space for the reader, is in what part of turn around the incoming thoughts Irwin Shaw, you can start to read, at least for one reason -. To learn what it America? Here you will see people without roots who believed in the American dream without embellishment, where money and happiness synonyms. The show offers to meet with people who are destroying themselves, because they believed in the false ideals, chasing pseudo. ( Rich man, poor man) Well, I will not dwell on this brilliant work, as has just published a review of the bookmixE, fully reveals his. I was very moved by the stories.  «Sunny Beach Lethe river Imagine that gradually you begin to notice that something became forget, and one day you are all erased in the memory there is no burden of care, even forgot how to call relatives, and his boss is put in place, without knowing it. Turns out, it came the happiest day of your life. You, as a child, to discover simple things, and rejoice, and therefore to really live  «Then we were three two wealthy young men who have graduated from college, begin to travel through Europe.. The museum of Florence, they meet a beautiful girl who drifts, all in anticipation of their revelations in his life, and is pleased to join them. A story about first love, youthful carelessness, the spirit of travel. Shaw shows how the protagonist, although complains parents who already ready to hang him judgment collar and responsibility, he, faced with the first test for lice to make difficult decisions, for which he will not be ashamed.  «Ãƒ   la franà §aise » a story about love, about the sad music of the heart, tired of beating the tocsin tears into the void, an elusive, like sand between the fingers, and seeking to grasp, to hold that the return can not be .  «Circle of Light, Is the whole life just an empty room? Im looking for an answer, I explorer, Im looking for an oasis in the midst of the great American desert. You even can not imagine how lucky at first sight lives around. They walk, demonstrating to the world their smiling faces. I believe that there are people who do not pretend to be. Comic, even absurd, but sad storyline Shaw, shows to what can bring a person choking among hypocrisy.