Questions with Answers on Introduction of Insurance Management

Questions with Answers on Introduction of Insurance Management       

Define Insurance. What are its characteristics?Explain the functions of Insurance. What are the pre-requisites for the success of insurance?What are the limitations of Insurance?Explain the scope or classification of Insurance.Explain the Double Insurance and Reinsurance.

Discuss the Insurance as a Social security tool.
What is the Role of Insurance in economic development of a country?

Questions with Answers on Legal Framework of Insurance

What are Principles of Insurance? Explain the principles required for a successful contract.
What are the Requisites of Insurable risks?

What are the Principle of Subrogation and Principle of Contribution?
Explain the Insurance Regulatory and Development Authority Act 1999 (IRDA).
What are the objectives and scope of Consumer Protection Act 1986.