Joint ventures in the Indian insurance industry

Type :

Term papers

Pages :

23 pages

Format :

.doc

Published date :

04/13/2009

Category :

Economics & finance

Sub category :

Finance

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Summary :

Introduction
Insurance policies in general
1. The origin of insurance
2. Defition
3. History
What is a pre-liberalized market
Milestones in the general insurance business in India
Overview of the current insurance market in India
What is a joint-venture?
1. Government approval for joint venture
2. How to enter into a joint venture agreement?
3. How to draft joint venture agreements and contracts?
4. Advantages and disadvantages of entering a joint venture
Setting up a joint venture in India
Requirements of a successful joint venture
Conclusion
Observations and suggestions

Abstract

The aim of all insurance is to compensate the owner against loss arising from a variety of risks, which he anticipates, to his life, property and business. insurance is mainly of two types: life insurance and general insurance. General insurance means Fire, Marine and Miscellaneous insurance which includes insurance against burglary or theft, fidelity guarantee, insurance for employer's liability, and insurance of motor vehicles, livestock and crops.

A Contract of insurance is a contract by which one party undertakes to make good the loss of another, in consideration of a sum of money, on the happening of a specified event, e.g. fire, accident or death or any eventual direct or indirect losses within the limit of law. Law recognizes insurance as a system of sharing risk too great to be borne by one individual.

insurance is a financial topic of paramount importance for every individual. insurance is designed to protect the financial well-being of you and your dependents in the case of unexpected loss. Some forms of insurance are required by law, while others are optional. Agreeing to the terms of an insurance policy creates a contract between you and the insurance company. In exchange for payments from you (called premiums), the insurance company agrees to pay you a sum of money upon the occurrence of a specific event. That event may be as mundane as a visit to the doctor or as serious as a car crash, depending on the type of insurance

insurance was traditionally sold by agents who worked for insurers and had a vested interest in selling you their specific policies. Now, there are more consumer-friendly options for acquiring insurance coverage. Independent agents can sell policies from several different companies, allowing them to be more objective about your personal needs. These individuals may even be able to provide a complete review of your insurance needs, something you should do on a regular basis to keep your policies up to date with your current financial situation. The web has also become an excellent resource for shopping for and even purchasing insurance.