Professional Documents
Culture Documents
Actuaries and
are
professionals In many a
who
are
qualified in this field through education experience. must by countries, their of series actuaries competence demonstrate passing
In life insurance, actuaries focuses on the analysis of mortality, the production of life tables, and the
In health insurance, including insurance provided directly by employers, and social insurance, actuarial science focuses on the analysis of rates of disability, morbidity, mortality, fertility and other contingencies.
In the pension industry, actuarial methods are used to measure the costs of alternative strategies with regard to the design, funding, accounting, administration, and
The Institute of Actuaries of India, is the sole professional body of actuaries in India, and was formed in September 1944. It was formed by the conversion of the Actuarial Society of
The ASI was initially started as a non-examining body when Actuaries used to get qualified from Institute of Actuaries or Faculty of Actuaries of the United Kingdom.
actuarial association the umbrella organization for all the actuarial body across
the world.
The whole actuaries comes under actuaries act 2006 passed by the parliament.
Advancement of the Actuarial profession in India. Providing opportunities for interaction among members of the profession. Facilitating research, arranging lectures on relevant subjects. Providing facilities and guidance to those studying for the Actuarial exams. To prepare "actuaries of tomorrow" who are adequately qualified and competent in the global context. To keep the level of competence on a continuing basis for fully qualified Actuaries at a high in the global context through CPD (Continuing Professional Development) and other programs.
To serve the cause of public interest through Professional Code of Conduct and Disciplinary Procedures.
McGraw-Hill/Irwin
AUTO INSURANCE
Liability Insurance (compulsory insurance) - Covers any physical damages that you inflict on others or their property. (Mandatory) Bodily Injury Covers injury or death to people in passenger car or other cars, etc.
Property Damage Covers injury to someone elses property, i.e., autos, trees, buildings, hydrants, etc.
Comprehensive - Covers damages resulting from theft, fire, falling objects, etc. Collision - Provides protection against damages to your car caused by a moving vehicle. Covers the cost of repairs less the deductible.
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$ 98 $160
($52 + 4)
Substitute trans. Towing & labor 16 4
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THE LAW RELATING TO FIRE INSURANCE IS FOUND IN THE INSURANCE ACT 1983.
SEC 2(6A) OF THE ACT DEFINES A FIRE INSURANCE BUSINESS AS THE BUSINESS OF EFFECTING, OTHERWISE THAN INCIDENTALLY TO SOME OTHER CLASS OF BUSINESS,CONTRACTS OF INSURANCE AGAINST LOSS BY OR INCIDENTAL TO FIRE, OR OTHER OCCURRENCE CUSTOMARILY INCLUDED AMONG RISKS INSURED AGAINST THE FIRE INSURANCE POLICIES
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2. UTMOST GOOD FAITH : BOTH THE INSURED AND INSURANCE COMPANY HAVE TO DISCLOSE EVERYTHING WHICH IS IN THEIR KNOWLEDGE AND MAY AFFECT THE CONTRACT.
3. PERIOD : A FIRE INSURANCE CONTRACT IS ONLY FOR ONE YEAR. IT CAN BE RENEWED AFTER MAKING PAYMENT OF THE PREMIUM WITHIN THE DAYS OF GRACE. 20-16
4.
INSURABLE INTEREST : THE INSURED HAS TO SHOW INSURABLE INTEREST, PEOPRIETARY OR PECUNIARY IN THE SUBJECT MATTER. IT SHOULD BE PRESENT BOTH AT THE TIME OF TAKING THE POLICY AS WELL AS AT THE TIME OF LOSS. 5. PROXIMATE CAUSE : THE RISK COVERED BY THE INSURANCE CONTRACT IS THE LOSS RESULTING FROM FIRE OR SOME OTHER CAUSE WHICH IS THE PROXIMATE CAUSE OF DAMAGE.
MEANING OF FIRE
MEANING OF FIRE IN CASE OF FIRE INSURANCE THERE MUST BE ACTUAL FIRE OR IGNITION. IT MUST BE ACCIDENTAL IN ORIGIN SO FAR AS THE INSURED IS CONCERNED.
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THANK YOU
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