The following essay was submitted to the Harvard MBA program by our client. The client was accepted to the program. Long Run Objective My long-run objective is to achieve a senior managerial position in a large multinational corporation that markets, or preferably manufactures, commodities.
A fire insurance is a contract to indemnity the insured for distribution of or damage to property caused by fire. The insurer undertakes to pay the amount of the insured loss subject to the maximum amount stated in the policy. Fire insurance is essentially a contract of indemnity, not against accident, but against loss caused by accident.
It is becoming very common in fire Nature and scope of investment management essay policies to insert a condition, called the average clause, by which the insured is called upon to bear a portion of the loss himself.
The main object of this clause is to check under-insurance and to encourages for full insurance. It impress upon the property-owner for the need of having his property accurately valued before insurance.
A contract of marine insurance is an agreement whereby the insurer undertakes to indemnity the assured in a manner and to the extent thereby agreed, against marine losses, that is, the losses incidental to marine adventure. There is a marine adventure when any insurable property is exposed to marine perils.
Marine perils also known as perils of the seas, means the perils consequent on, or incidental to, the navigation of the sea or the perils of the seas, such as fire, war perils, pirates, robbers, thieves; captures, jettisons, barratry and any other perils which are either of the like kind or may be designed by the policy.
Social insurance has been developed to provide economic security to weaker sections of the society who are unable to pay the premium for adequate insurance. The following types of insurance can be included in social insurance Sickness Insurance: In this type of insurance medical benefits, medicines and reimbursement of pay during the sickness period, etc.
Economic assistance is provided to dependants of the assured in case of death during employment. The employer can transfer his such liability by getting insurance policy against employees. There is provision for compensation in case of total or partial disability suffered by factory employees due to accident while working in factories.
According to Employees Compensation Act, the responsibility to pay compensation is vest with the employer. But the employer transfers his liability on the insurer by taking group insurance policy.
In case insured person becomes unemployed due certain specific reasons, he is given economic support till he gets employment. In india Unemployed Youth population Increasing. In this category of insurance, the insured or his dependents is paid, after certain age, economic assistance.
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To provide security against such hazards, many other types of insurance also have been developed. The important among them are: Personal accident insurance by paying an annual premium. Burglary insurance — against theft, decoity etc.
Legal liability insurance insurance whereby the assured is liable to pay the damages to property or to compensate the loss of personal injury or death. This is in the form of fidelity guarantee insurance, automobiles insurance and machines etc.
Crop insurance crops are insured against losses due to heavy rains and floods, cyclone, droughts, crop diseases, etc. Cattle insurance Insurance for indemnity against the loss of cattle from various kinds of diseases.
In addition to the above, insurance plans are available against crime, medical insurance, bullock cart, jewellery, cycle rickshaw, radio, T. Classification from Risk Point of View From risk point of view, insurance can be classified into four categories: The insurer undertakes to pay the sum insured on the happening of certain event or on maturity of the period of insurance.
This insurable sum is determined at the time of affecting the policy and include life insurance, accident insurance, and sickness insurance.
Life insurance contains the element of investment and protection, while the accidental, sickness or health insurance contain the element of indemnity only.
Property Insurance Contract of property insurance is a contract of indemnity. Proof by the assured of loss is an essential element of property insurance. The policies of insurance against burglary, home-breaking or theft etc.
The assured is required to protect the insured property. After the loss has taken place, the assured usually required to notify the police as to losses. There is very Complex Process When We Try to Claim Insurance For Loss or Damage Liability Insurance Liability insurance is the major field of general insurance whereby the insurer promises to pay the damage of property or to compensate the losses to a third party.
The amount of compensation is paid directly to third party. The fields of liability insurance include workmen compensation insurance, third party motor insurance, professional indemnity insurance and third party liability insurance etc. In liability insurance, there may be various reasons for the arising of liability; viz.
Fidelity Guarantee Insurance In this type of insurance, the insurer undertakes to indemnify the assured employer in consideration of certain premium, for losses arising out of fraud, or embezzlement on the part of the employees.May 25, · Nature and Scope of Financial Management Financial management is one of the important aspects in finance.
Nobody can ever think to start a business or a company without financial knowledge and management strategies/5(29). Sudhindra Bhat 1± 5 SECURITY ANALYSIS AND PORTFOLIO MANAGEMENT Sudhindra Bhat Excel regardbouddhiste.com I: The Investment Environment C1 Nature and Scope of Investment Decisions The Investment Process A typical investment decision undergoes a five step procedure which.3/5(3).
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Investment meaning nature 1. Investment can be defined in different aspects. These are: Generally, investment is the application of money for earning more money. Investment also means savings or savings made through delayed consumption. The foundation of investment management is thus, collection of data relating to investors’ requirements.