Business

Salvage in Insurance Salvage usually refers to the remains of the property after a loss. Normally, as the result of a loss, the whole property…

New provisions included and changes brought in Current Insurance Act The insurance Act has not only brought the new additions but also has brought some…

Different types of Merit Rating Merit Rating assesses the merit of the person doing the job. In Insurance, a merit rating plan is used by…

Numerical Rating System This system is based upon the principle that a large number of factors enter into the composition of a risk and that…

Judgmental Method System of Evaluating Risk The Judgment Method: Under this method, the individual decisions of experienced persons, in the medical, actuarial, underwriting and other…

Problems of Insurance Business in Developing Countries The complex government regulatory keeps on fluctuating every now and then, and it adversely affects the insurance industry.…

Different Types of Merit Rating The third principal type of rating method in property and liability insurance is merit rating. Merit rating is a rating…

Objectives of Reinsurance Almost all insurance companies have a reinsurance program. The ultimate goal of that program is to reduce their exposure to loss by…

Important factors to be considered while marketing insurance products Insurance companies are in a unique position when it comes to marketing. They have no tangible…

Various Classes of Rating – Class rating is a type of manual rating that places similar consumers into the same underwriting category. The second type…