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MF0018 & INSURANCE AND RISK MANAGEMENT

 

Dear Students,

SMU MBA Summer 2014 Assignments are available. For Booking ,Kindly mail us on kvsude@gmail.com OR call us to +91 9995105420  or S M S your “ Email ID ” us in the following Format  “  On +91 9995105420 we will reach back you with in 24H ”

 

 

DRIVE- SUMMER 2014

PROGRAM/SEMESTER – MBADS — (SEM 4/SEM 6) / MBAN2 / MBAFLEX — (SEM 4) / PGDFMN — (SEM 2)

SUBJECT CODE & NAME- MF0018 & INSURANCE AND RISK MANAGEMENT

Q1. What do you understand by the term risk and uncertainty? Explain different types of risk facing business and individuals. (Introduction of risk and uncertainty, Explanation of different types of risk) 4, 6

Answer:

Introduction of risk and uncertainty

RISK: Risk is defined in many different ways. Risk theorists, economists, statisticians, behavioral scientists each have their own definition and meaning of risk. But generally risk can be well associated and understood in terms of uncertainty.

 

Q2. Identify the role of insurance in managing risk financing. Explain the importance of insurance transaction. Discuss in different perspectives of insured and insurer. (Role of insurance in managing risk financing, Introduction of insurance transaction, Explanation of different perspectives of insured and insurer) 2, 4, 4

Answer:

Insurance as a Prime Risk Management Tool

In general, risk management deals with risks by designing the procedures and implementing the methods that lessens the loss occurrence or the financial impacts.

 

Q3. Explain the reasons that have been responsible for the privatization of the insurance industry in the country. Identify the problems and prospects of public insurance enterprises. (Complete information on the privatization of the insurance industry, Problems and prospects of public insurance enterprises. ) 5, 5

 

Answer:

Privatization of the insurance industry:

Insurance companies are mainly divided into public and private sector companies. The government to help manage the risks faced by the people of India formed public sector insurance companies. Public insurance is also known as social insurance as it helps citizens below the poverty line or people who cannot face their basic risks by themselves. A public sector insurance company works by redistributing profits to the needy

 

Q4. Explain the creation and application of insurable interest. Give the differences between wagering and insurance. (Creation of insurable interest, Application of insurable interest, Differences between wagering and insurance) 2, 3, 5

Answer:

Creation of insurable interest:

True, valid, determinable, and direct economic stake of an insurance policy holder (or of the beneficiary of the policy) in the continued existence or safety of the insured property or person. Often stated as “an interest in the outcome of a contingency other than that arising under the contract of insurance,” an insurable interest

 

Q5. Give the important activities of life insurance company. Describe the important historical milestones in the development of the life insurance sector in India. (Important activities of life insurance company, The important historical milestones in the development of the life insurance sector in India) 4, 6

Answer:

Important activities of life insurance company

 

Insurance pricing has to balance the risks and returns of the insurance company. It needs to take into account the role of the market in determining the price of the insurance products. The pricing strategy must ensure

 

Q6.  Give short notes on :

Pricing objectives.

Pricing elements.

Rate computation.

Answer:

Pricing objectives

The insurance pricing has the following general objectives:

1) The rating system must create adequate premium income for the insurance corporation to be able to settle its claims and expenses; to provide a realistic return rate to the sponsors of funds and to finance continuing

 

 

Dear Students,

SMU MBA Summer 2014 Assignments are available. For Booking ,Kindly mail us on kvsude@gmail.com OR call us to +91 9995105420  or S M S your “ Email ID ” us in the following Format  “  On +91 9995105420 we will reach back you with in 24H ”

 

 

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