Professional Documents
Culture Documents
Course Code
MS-46
Course Title
Assignment Code
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KIAN PUBLICATION
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1. Select any financial service of your choice and discuss the impact of technology on that service.
I choose Commercial Banks to discuss impact of Technology on the services provided by them.
Commercial banks accept deposits ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------handled with checks, debit cards or credit cards, instead.
Twenty years ago, a bank was the building you ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------technology. But rather than
being left as a monument to the past, the banking industry seeks to be rebuilt through this same technology which washes it
away.
The dissemination of technology into ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------expanded credit card market. Employee
credit unions are now a significant player in consumer banking.
Despite losses in their traditional roles, -----------------------------------------------------------------------------------------------------------------------------------------------------------------------Imaging Technology, Electronic Data Transfer (EDT), and Smart
Cards and virtual banking--work individually and together to transform banking's role and appearance in society.
Imaging Technology (Electronic Check Presentment)
Physical transfer of paper checks between retailers ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------to combat fraud initially, but
it has also had a major impact on the other two costs.
ECP separates the payment information on the check from the actual paper document. A depositing bank uses the Magnetic
Inc Character Recognition (MICR) from the check to ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------electronic transfer. Plus,
EPC enables fewer errors that result from miscalculations and fewer mistakes made in transference of information.
As powerful the effects of ECP may be, imaging technology opens further opportunities through its elimination of and
consolidation of paper documents. Signatures, ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------and retrieval costs associated
with paper documents, but it will allow banks to serve customers more quickly and more efficiently.
Electronic Data Transfer
Closely related to ECP and Imaging is Electronic ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------daily business transactions.
Banks will be able to charge firms (and other banks) fees for EDT service. As EDT service is expanded into new areas, rather
than merely replacing other forms of bank-managed payment, its fees will help to strengthen banks' financial position. Many
banks have suffered large financial losses in recent years due to fluctuations in the interest rates. Because of this, Banks have
been moving away from interest-sensitive income, and more toward fee income like that generated by EDT services.
Smart Cards and Virtual Banking
The proliferation of ATMs and the potential of ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------, and they can access or
manipulate information or cash.
Not only can this technology improve customer service through more timely and more flexible service (note how technology
has helped shift the definition of "service" from a personal interaction to a specific manipulation or a degree of accessibility),
but Smart Cards can generate new revenues for banks. The credit card presently serves customers over a wide range of
transactions: it can be used to purchase durable and non-durable goods, entertainment, and long-distance communication, for
example. Along with this wide-spread use, ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------"cash"
balance
instead
of
purchasing on credit, customers are less likely to overcharge with the cards.
Besides reducing fraud, Smart Cards provide other opportunities for use. They expand the range of transactions to include
financial services such as securities market manipulations, mortgage and loan payments, and insurance transactions. This
secure method of payment opens greater ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------. This will enable them to be used as
information managers by linking payment systems together with a wealth of personal records and outside sources of
information.
Possibly the greatest advantage that Smart-card technology provides to banks is this wider range of society's transactions in
which the bank can participate. As Smart Cards replace cash, ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ meat and Oreo
cookies(!)]. As was previously mentioned, with banks looking to secure themselves from interest-rate fluctuations, fee-based
income such as those generated by Smart Cards are especially desired.
Technology's Shift of Banking
Even stronger than the individual effects of ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------of even greater impact may be
banking's shift toward being an information processor.
Imaging Technology, EDI, Smart Cards (with ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------, payment, and financing system
most appropriate for the business. For example, a bank could work with a hospital to develop an electronic filing system that
would use imaging technology to coordinate "images" ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------. Smart Card technology
could allow quick identification of patients' health data and payment information; plus, it could be used to allow medical
personnel (and patients) quality access to personal financial information.
This shift in core concentration also posses -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------. Changes in society have placed banking on the crest of the technological wave, leaving banks to
negotiate the wave, to determine what role they will play in the next generation.
2. Study any Stock Exchange of your choice and explain its organizational structure. Also discuss the
recent developments that have taken place in that organization.
The Shanghai Stock Exchange (SSE) was founded on Nov. 26th, 1990 and commenced operation on Dec.19th of the same
year. It is a non-profit organization directly ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------, and managing and disseminating market information.
SSE has 31 departments or affiliated organizations. They are Executive Office, Offering and Listing Department, Listed
Company Supervision Department, Listed Company Supervision Department , Trading Management Department, Market
Surveillance Department, Membership Department, ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------Center, FTZ Trading Platform Preparation Team, and SSE
New Building Construction Project Team. Additionally, SSE has three wholly owned subsidiaries: the Shanghai Securities
Telecommunication Co. Ltd, SSE InfoNet Co. Ltd and SSE Financial Service Co. Ltd. All of them operate efficiently to
ensure that SSE fulfills its role as an organizer in the securities market. Meanwhile, SSE also expanded its businesses by
investing in the shares of 16 other companies.
After a quarter century of development,SSE has made laudable efforts in pushing forward reforms. With the introduction of
Shanghai-Hong Kong Stock Connect and the Equity Option, SSE broke new ground and became into a more open,
comprehensive, and modern exchange. ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ 1081 listed companies with the total
market capitalization hitting 29.5 trillion RMB. Its total annual turnover in 2015 stands at 132.6 trillion RMB and the average
daily turnover reached 543.3 billion RMB. The total capital raised in the equities market in 2015 was a staggering 871.3
billion RMB. The bond market consists of 4,489 -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- turnover hitting 10.4 trillion RMB. The
registered account of investors has reached 136.99 million by the end of 2015.
Organizational structure-
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Recent developments-
The securities listed at the SSE include the three main categories of stocks, bonds, and funds. Bonds traded on SSE
include treasury bonds (T-bond), corporate bonds, and convertible corporate bonds. SSE T-bond market is the most active of
its kind in China. There are two types of ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------, foreign investors are now allowed
(with limitations) to trade in A shares under the Qualified Foreign Institutional Investor (QFII) program which was officially
launched in 2003. Currently, a total of 98 foreign institutional investors have been approved to buy and sell A shares under
the QFII program. Quotas under the QFII program are currently US$30 billion. There has been a plan to eventually merge the
two types of shares in the future.
The SSE is open for trading every Monday to Friday. ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------is closed on Saturday and
Sunday and other holidays announced by the SSE.
In 2010, the CSR initiatives of the SSE ----------------------------------------------------------------------------------------------------------------------------------------------------------------. Now, the SSE capital market research institute has released an analysis
report (available in Chinese only) on the sustainability disclosure performance of SSE listed companies.
The report, published last month, shows that 351 companies released CSR reports in 2011 an increase of seven percent
since 2010. 296 of these companies were required ----------------------------------------------------------------------------------------------------------------------------------------------------- the other listed companies in both quantity and quality of CSR reports. 69
percent of SSE 180 companies released CSR reports, more than half of which referenced the GRI Guidelines.
Sustainability reporting in China is receiving more recognition and attention than ever before. Between 2001 and 2011, the
number of sustainability reports issued in -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- and increased education on corporate governance.
Based on the findings of the report, the ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------as the GRI Guidelines to improve the
quality of their reports.
Elyse Chen, Research Coordinator at GRIs Focal ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------presence in China, will go a
long way to aiding the uptake of sustainability reporting initiatives in the country.
Chinas stock exchanges have taken an active role in promoting CSR and the disclosure of sustainability performance by
listed companies. As major stock exchanges start paying attention to, and asking for, sustainability data, more are sure to
follow suit.
GRI is working with many of these stock exchanges --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Organizational
Stakeholders,
and
can get involved in the development of the new G4 Guidelines. GRI looks forward to seeing even more exchanges looking
at sustainability data and encouraging listed companies to report.
3. Discuss the various products that are being offered by a Mutual Fund of your choice to investors. Which
of these schemes according to you are suitable to which class of Investors?
Mutual Fund Schemes and their features-
There are a wide variety of Mutual ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------- as the foundation of your investment programme or as a
supplement, Mutual Fund schemes can help you meet your financial goals.
(A) By Structure
Open-Ended Schemes: These do not ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- is liquidity. You can conveniently
buy and sell your units at net asset value ("NAV") related prices.
Close-Ended Schemes: Schemes that have a stipulated maturity period (ranging from 2 to 15 years) are called closeended schemes. You can invest directly in -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------that they are generally traded at a discount to NAV; but closer
to maturity, the discount narrows.
Some close-ended schemes give you an additional option of selling your units directly to the Mutual Fund through
periodic repurchase at ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- are provided to the investor.
Interval Schemes: These combine the features of open-ended and close- ended schemes. They may be traded on the
stock exchange or may be open for sale or redemption during pre-determined intervals at NAV related prices.
(B) By Investment Objective
Growth Schemes: Aim to provide ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------regular income or needing their money back in the short-term.
Features:
Investors ---------------------------------------- earning years.
Other Schemes
Tax Saving Schemes: These -------------------------------------------------------------------------------------------------------------------------------------------------------------------------- offers tax incentives for investment in specified avenues.
For example, Equity Linked ------------------------------------------------------------------ and Pension Schemes.
Recent amendments to the Income Tax Act provide further opportunities to investors to save capital gains by investing in
Mutual Funds. The ---------------------------------------------------------- in the relevant offer documents.
Feature
Sector Funds: Sector funds are those with the objective to invest only in the equity of those companies existing in a
specific sector, as laid down in the funds offer document. For example, ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------Cement, steel and petrochemicals.
Index Funds: Index Funds try to mirror -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- that constitute a particular index. Investment in these scrips
is also made in proportion to each stocks weight in the index.
Exchanged Traded Funds: ETFs are a phenomenon which impart a lot of liquidity to an existing market. They are
passively Managed Funds tracking and -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------traded in the world in different countries. The total assetss in ETFs
globally are over $ 70 Billion USD.
ETFs
INDEX
SPONSORS
SPDRs
---------------------
AMEX
WEBS
MSCI
--------------------------
--------------------------
DOW JONES
--------------------
TRACKER FUND
-------------------------------------
-------------------------------------------------------
--------------------------
------------------------
NASDAQ , AMEX
2. Have clear goals and invest accordingly - Read the ----------------------------------------------------------------------------------------------------------------------------------------------------------- scheme that is likely to offer the best return, in time for your
goals. Equity based mutual funds may be preferred for goals which are at least five years away.
3. Be disciplined - At the onset, make a financial ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------. Gradually, as your investible surplus increases, start investing more.
4. Stay invested and do not try to time the market - Everybody ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- time to grow through compounding. Also, avoid churning the portfolio unless necessary.
5. Diversify - Mutual funds offer you several opportunities to diversify your investments. Different types of funds include
diversified equity (large-cap, mid-cap, small-cap), ------------------------------------------------------------------------------------------------------------------------------------------------------------------ are ample baskets for all your eggs. Choose wisely.
6. Do not be lured by NAVs - Unlike stock prices, the absolute value of a mutual NAV does not suggest anything about the
quality or performance of the scheme. ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- does not mean that you are buying low.
7. Dividends are not bonuses - Mutual fund schemes offer -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- dividends, invest in growth plans, which are ideal for long-term capital appreciation.
8. Include Balanced Funds and Index Funds - If ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- index funds as cost-effective mutual funds that may help
mitigate fund house and fund manager related risks.
9. Other Investment Vehicles - While investing through mutual funds is great, one must also consider other investment
avenues like real estate, direct equity, government bonds and other fixed income assets.
10. Regular Monitoring - One of the ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------investment objectives. Periodic monitoring allows one to take corrective
actions and stay on track.
4. What functions are undertaken by National Housing Bank? Discuss the powers vested in it to regulate
and supervise the housing finance companies.
National Housing Bank (NHB), a wholly -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------housing finance institutions both at
local and regional levels and to provide financial and other support incidental to such institutions and for matters connected
therewith.
NHB registers, --------------------------------------------------------------------------------------------------------------------------------------------------------- surveillance through On-site & Off-site Mechanisms and co-ordinates with other Regulators.
The 3 Main function of NHB in the housing finance business in the country are as follows
1. Promotion and Development Function
The institution had been set up when regional and local level housing finance institution were nearly absent and the banking
sector was not willing to do housing finance -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------which raises resources through the
open market and deliver credit with minimum necessary prudential regulations by the regulator. For households below the
poverty line, the institutional credit will have -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------at creating and supporting new set
of specialised institutions to serve as dedicated centres for housing credit.
2. Regulatory Function
The second most important function of NHB is the regulatory role assigned to it. This role assumes more importance as the
housing finance system in India enters a secondary phase of development in terms of integration with the debt and capital
markets. The case for regulation also emanates ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- development and institution
building. NHB has come up with guidelines for recognising HFCs for its financial assistance, guidelines for financial
assistance. Besides it has also issued guidelines for prudential norms for income recognition, asset classification etc.
3. Financial Function
The third important role of NHB is to provide -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------housing loans extended by them to
individual beneficiaries and for project loans extended by them to various implementing agencies. It also supports by lending
directly in respect of projects undertaken by public housing agencies for housing construction and development of housing
related infrastructure. It helps by guaranteeing the -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------things under the financial role
that NHB plays are refinance operations, project finance, guarantee and securitisation.
Future Strategies
It has been estimated that the housing requirements till 2012 in India is around 74 mn units out of which nearly 90% of the
total housing units in both the rural and urban areas are for the poor and low income segment households. Though the growth
of housing finance is about 30% in the last -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------up loan scheme, emphasis on public
private partnership focussing on housing for poor, JNNURM for bringing appropriate policy and legal reforms for providing
affordable housing to poor. So for all these to materialize synchronization is needed in the working of Government, RBI and
NHB. Also public agencies, financial institutions and builders need to be incentivized so that NHB can achieve the goals that
it has embarked on.
Powers vested in it to regulate and supervise the housing finance companiesThe second important function of NHB is the regulatory role assigned to it. It has mandate to regulate and supervise
housing finance companies in India. -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------and investors. The NHB has issued
Directions to the HFCs. These Directions are called Housing Finance Companies (NHB) Directions, 1989.The directions
were amended from time to time and now fresh Directions were issued in 2010.
Housing Finance Companies (HFCs)
Regulatory Function of NHB - Objectives of Regulation:
1. To -------------------------------- interest
2. To ------------------------------- growth of the sector
3. To -------------------------------- failures
The National Housing Bank Act, 1987 -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------its principal objects the transacting of the
business of providing finance for housing, whether directly or indirectly
Companies --------------------- Registration:
152
256
Total:
408
53
256 companies that were on the ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------, 91 were on the mailing list. 61 were not on the mailing list.
Regulation of Housing Finance Companies
Generally in tune with the regulatory policy -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------is genuine need for deviation.
NHB : Instruments of Regulation
1. National ------------------------------------------------------, as amended in 2001
2. Housing ---------------------------------------------------------------------, as amended in 2010
3. Guidelines -------------------------------------------------- Management
4. Supervision ---------------------------------------------------5. Statutory Returns (------------------------------------------------------------------------ Norms), Quarterly Returns (Liquid Assets).
6. Disclosure ------------------------------------------------------7. Advertisements -------------------------------------------------------- of advertisement
8. -------------------------------------------- Reports
5. Discuss in detail about any two non-life insurance policies that are relevant to each, an individual and an
organization.
General insurance or non-life insurance policies, including automobile and homeowners policies, provide payments
depending on the loss from a particular financial event. General insurance is typically defined as any insurance that is not
determined to be life insurance.
General insurance products and services are being offered as package policies -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------also offer customized or
tailor-made policies based on the personal requirements of the customer.
A suitable general insurance ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- and risks prevalent in life. It is also necessary to protect ones
property against risks as a loss or damage to ones property can leave one in doldrums.
Losses created by catastrophes such as ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- have the potential to shatter lives but
availing a suitable insurance cover could help mitigate the unforeseen risks.
Similarly, an individual can be provided with a suitable insurance cover against Personal Accidents. A Health Insurance
policy can --------------------------------------------------------------------------------------------------- of a disease or an injury.
It is important for prospective customers to -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------cover is adequate and an appropriate one, as desired.
While owning a vehicle can be difficult, -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------to opt for an insurance to cover these assets.
General Insurance is also known as Non-Life Insurance in India. There are totally 16 General Insurance (Non-Life)
Companies in India.
a) Individual Policy- Individual policy provides health cover for a single individual only. It is an agreement between an
individual (policyholder/customer) and the insurer ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------policy is not transferable. In case, if the policyholder wants to change his policy cover from one
insurance company to any other insurance company, then such a customer (insured) has to forego the benefits such as
cumulative bonus or benefits during diseases or ailments being covered under the policy.
b. I would like to opt for auto insurance for auto business. Such an insurance cover extends a lump sum amount to you in
case of damage, destruction to the asset insured. This allows you to carryout repairs, replacement, etc to the property
damaged.
-------------------------------------------------------------------------------------------------------------------------------, there is always a
possibility of damaging third-parties, and hence you need the insurance to settle the liabilities arising.
Automobile insurance, like any other insurance, -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------premiums can be expensive and it may be tempting to
forgo automobile insurance altogether, in most circumstances that is not feasible.
The bare minimum every driver of a motorized -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------to have the minimum amount as required by law. Without
basic liability coverage a driver could be given a ticket, have their drivers license revoked, or possibly even be arrested
should they be pulled over by a police officer.
The reason why liability coverage is so important ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------is important to prevent financial ruin such as bankruptcy
of judgements resulting from a lawsuit.
Comprehensive and collision are often refer to ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------and collision coverage reimburses the driver or pays for
auto repairs should damage occur that wasn't caused by the driver.
Uninsured motorist coverage is a more recent type ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------, not having uninsured motorist coverage may mean
you have to look for toward other avenues to receive compensation for automobile repairs or damage to your person.
Because of the various types of coverage offered for ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------because it may be cheaper to purchase another
vehicle. If however, you're driving a brand new expensive sports car you would probably want full coverage in the event
anything happens as the cost of replacing or repairing may be too expensive without the proper coverage.
However, auto insurance covers much more ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------charge a small deductible depending on the type of accident
that has occurred, but the cost is minimal compared to what it would cost to fix an automobile on your own.
KIAN PUBLICATION
Whatsapp- 9580039150
ignousolvedassignmentsmba@gmail.com
kianpublication1@gmail.com
ignou4you@gmail.com