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SPOTLIGHT
Future Generali India Life Insurance Co. Ltd.
-- Kamatla Sheeba
Future Generali India Life Insurance Company Limited (FGILICL) was incorporated on October 30, 2006 to do life insurance business in India. The company currently offers whole life insurance, endowment insurance, double benefit and multiple benefits insurance, etc. FGILICL is a 74:26 joint venture between Future Group and Assicurazioni Generali.
© 2008 IUP . All Rights Reserved
COVER STORY
Washed Away
-- Don Parkes and Jason Sears
New advances are challenging conventional wisdom and forcing insurers to reassess coastal and inland flood risk.
© 2008 Risk and Insurance Management Society, Inc. All Rights Reserved. This article was first published in the May 2008 issue of Risk Management magazine. Reprinted with permission.
CATASTROPHE RISK
Hurricane Relief
-- Michael J Moody
Property underwriters should have a look at weather derivatives as these instruments offer more advantages over CAT bonds.
© 2008 Rough Notes (www.roughnotes.com). This article was first published in the April 2008 issue of Rough Notes. Reprinted with permission.
NON-LIFE INSURANCE
Agricultural Insurance : The Indian Context
-- Mallikarjunkrishna Murthy
Various insurance products have been introduced under the aegis of The Agricultural Insurance Corporation of India Ltd. covering risks like fire outbreaks, lightning, storms, cyclones and similar wild winds, floods, earthquakes, landslides, droughts, pests, crop epidemics, etc. The government's future plans include use of "remote sensing technology", creating awareness for agricultural insurance and extending coverage, simultaneously tying up with institutions and NGOs.
© 2008 IUP . All Rights Reserved
NON-LIFE INSURANCE
The State of Wrap-Ups 2008
-- Richard Resnick
It has been a while since we last addressed the state of wrap-ups. Well, no doubt, it is a very timely subject with several factors contributing to the current dynamics of the wrap-up phenomenon. Let us first recognize that regardless of what is addressed in this article, the state of wrap-ups in 2008 is very good, but we do face certain challenges as the wrap-up paradigm continues to evolve.
© 2008 International Risk Management Institute, Inc. (www.IRMI.com). This article was first published in the April 2008 issue of IRMI.com. Reprinted with permission of the publisher from the Expert Commentary Section of www.IRMI.com
NON-LIFE INSURANCE
Opportunities in Non-life Insurance Sector for Cas
-- GV Rao
Chartered Accountants (CAs), as professionals, want a wider horizon as their business canvas, for their professional work and opportunities. With differentiation and specialization of expertise, dominating the world of services, the basic skills and accounting knowledge alone are insufficient for CAs to make a mark. Customer segmentation, value creation, communication skills encompassing comprehension and understanding of customer needs, matter a lot to get them world-class professional recognition.
© 2008 IUP . All Rights Reserved
INSURANCE OPERATIONS
Black Swan or Black-Scholes? : The Crisis of the Actuarial Profession
-- Gerry Smedinghoff
How do you price future financial risks in a world dominated by unexpected single events whose probability can't be measured?
© 2008 American Academy of Actuaries. This article was first published in the May/June 2008 issue of the Contingencies Magazine. Reprinted with permission.
LIFE INSURANCE
Unit Linked Pension Plan : A Strategic Road Map for Retirement Planning
-- B Balaji Sathya Narayanan
This article attempts to decode the mystery of pension plans and assist people to zeroing down to an apt pension plan. Initially, it deals with the fundamentals of Unit Linked Pension Plan (ULPP) and on how it works. It explains how it is different from traditional insurance plan and discusses the basis for selecting an appropriate ULPP that will prove to be beneficial at the time of retirement.
© 2008 IUP . All Rights Reserved
LIFE INSURANCE
Ethics in Life Insurance Selling : Relevance of Product
-- David Chandrasekharan
The author emphasizes that identifying the right product is the first step towards ethical selling. He adds that although it sounds very simple, it is hard to accomplish, considering the numerous `factors' that go into a sale.
© 2008 IRDA Journal. This article was first published in the April 2008 issue of IRDA Journal. Reprinted with permission.
RISK & INSURANCE
Risk Appetite : A Boundary for Decisions
-- Linda Chase-Jenkins and Ian Farr
A clear articulation of preferences for risk-taking is an essential foundation for a sound system of risk control and provides a framework for strategic decision-making.
© 2008 Towers Perrin. This article was first published in the January issue of Towers Perrin Emphasis magazine. Reprinted with permission.
CASE STUDY
How Come Marine Cargo Underwriters End Up Paying More Than the Sum Insured or `Agreed Value' Under Marine Voyage Policy, at Times?
-- B Venkata Ramana
Cargo consignments moving on high seas encounter series of casualties. The accumulated liability might eventually add on to the amount payable under the policy and hence the liability of marine insurers, in few cases exceeds the sum assured of the policy or the `agreed value' unlike in other classes of insurance.
© 2008 IUP . All Rights Reserved
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