Risk and Theory of Probability The Concept of Risk, Pure Risk, Minimisation of Risks, Classification of Risk, Insurable Risks. Exceptions Theory of Probability.
Fire and Loss of Profits (Fire) Insurance, Fire Insurance Exclusions, Special Policies, Reinstatement Value Policy, Declaration Policies, Floating Policy, Industrial All Risks Policy, Petrochemical Risks, Loss of Profits (Fire Insurance), Motor and Engineering Insurance, Miscellaneous Insurance: Legal Liability Insurance, Personal Accident Insurance, Group Personal Accident Policy, Mediclaim Insurance, Rural Insurance, Property Insurance. Marine Cargo and Hull Insurance: Marine Cargo Insurance, Institute Cargo Clauses, Special Declaration Policy, Insurance Annual Policies, Duty and Increased Value Insurance Package Policy for Exporters, Marine Hull Insurance, War and Strike Risks, Types of Loss: Actual Total Loss, Salvage Loss, Partial Loss, Consequential Loss. – Hazards and Risk Exposures: Exposure Hazards, External Exposures and Internal Exposures, Segregation of Processes, Layout for Fire Protection Systems, Petrochemical Complexes, Other Industries. Law & Relating to Insurance Business – I: Insurance Act 1938, Insurance Regulatory and Development Authority Act 1999, Important Amendments, The Insurance (Amendment) Act 2002. Commission Brokerage or Fee to Intermediary or Insurance Intermediary, General Insurance Business (Nationalization) Amendment Act, 2002. IRDA Regulations 2002, Contents of a General Insurance Policy Consumer Protection (Amendment) Act 2002, Ombudsman .
Laws Relating to Insurance Business – II :Indian Contract Act, Offer and Acceptance, Legality of the Contract, Construction of Policies, Insurance Policies Act, Exchange Control Regulation, Indian
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Penal Code, Offences Against Property, Offences relating to documents, Offences affecting the Public Health, Safety Convenience, Decency and Morals.
Introduction to Surveys: Human Element, Technical Element, Contractual Element, Administrative Element. Admissibility of Claims: Factors affecting the Admissibility of the claim, Examination of policy contents, Verification of Multiple Policies, Insurable Interest, Proximate Cause of Loss, Operation of Exclusions, Examination of Warranties.
Evaluation and Loss Assessment: Basis of Indemnity, Basis of Valuation, Valued Policies, Market Value Policies, Reinstatement Policies, Insurer‘s Liability/ Breach of Warranties, other issues.
Objectives, Processes and Professional Skills: Insurance Contract/ Policy Nature and Conduct of the Insured, Business Expediency of the Insurer, Business Expediency of the Third Parties, Surveyors Limitations, Professional Skills, Investigation Skills, Negotiation Skills.
Accounting Principles and Practices ; Book Keeping, Double-Entry Book Keeping, Trial Balance, Final Account, Manufacturing Account, Trading Account, Profit and Loss Account, Balance Sheet, Applicability of Accounting Knowledge, Limitations of Scrutiny of Books of Accounts. Survey Profession-Past and Present : Origin-Licensing of Surveyors, based only on qualifications-Licensing Procedure, Constitution and Functions of Surveyors and Loss Assessors Committee. Duties and Responsibilities of a Surveyor and Loss Assessor, Categorization of Surveyors, Code of Conduct, Practical Training.