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SPOTLIGHT
Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited
-- Kamatla Sheeba
© 2009 IUP. All Rights Reserved.
COVER STORY
Catastrophe Insurance: The New Wave
-- Jayshree Bose
The ever-growing magnitude of natural disasters across the world during the past 20 years, has led insurers
in the business of catastrophe insurance to realize that change would be constant. This article takes
Hurricane Katrina (2005) as the pivot, capturing trends that have emerged in catastrophes and their insurance over
the past three yearsfollowing Katrina.
© 2009 IUP. All Rights Reserved.
BUSINESS STRATEGY
Indian Insurance Companies:
Strategies to Tame the Turbulence
-- GV Rao
Insurers in India, more particularly the non-life insurers, are reeling under the impact of the slowing down
of the Indian economyas a consequence of global financial meltdown in the latter part of 2008. And
even more severely due to the detariffing of the premium rating regime made effective from 2007, which
was prevalent for five decades. How are they coping with these converging forces?
© 2009 IUP. All Rights Reserved.
INSURANCE MARKETING
The Next Frontier:
Telcassurance
-- Nitish Asthana
The author opines that considering the vast growth in the telecom industry across the length and breadth
of the country, telecom distribution will be the one distribution model to look for in the years to come.
© 2008 IRDA Journal. This article was first published in the May 2009 issue of
IRDA Journal. Reprinted with permission.
BUSINESS ENVIRONMENT
Pension Reform in India's Emerging Economy
-- Prakash Bhattacharya
Since 1991, there have been significant changes in the functioning of India's banking, insurance, and
capital markets sectors. Following the formation of the Insurance Regulatory and Development Authority
in December 1999, India's insurance sector has been opened to private companies, both domestic
and multinational. Changes in the functioning of India's pension sector took place with the August
2003 establishment (through an executive order) of the Pension Funds Regulatory and Development
Authority (PFRDA), even though the PFRDA bill is still pending.
© 2008 American Academy of Actuaries. This article was first published in the Jul/Aug 2009 issue of the
Contigencies Magazine. Reprinted with permission.
REINSURANCE
Third-Party Guarantees of Reinsurance Obligations:
I Guarantee It!
-- Larry P Schiffer
In a standard reinsurance transaction, the typical counterparties are the ceding insurer and the
reinsurer. Each, working at arm's length, negotiates the terms and conditions of the reinsurance arrangement and
the related contract wording. The ceding insurer may engage a reinsurance intermediary to assist with
the placement and negotiation of the transaction or may work directly with the reinsurer to reach agreement
on the deal and the language of the reinsurance contract.
© 2009 International Risk Management Institute, Inc. (www.IRMI.com). This article was first published in the June 2009 issue of
IRMI.com. Reprinted with permission of the publisher from the Expert Commentary Section of www.IRMI.com
LIABILITY INSURANCE
Employment Practices Liability Claims Reporting Requirements
-- Donald S Malecki
Under Employment Practices Liability insurance, failure to
report on a timely basis can result in the
denial of a claim. There is a `strict' notice provision which needs to be followed in letter and spirit.
© 2008 Rough Notes (www.roughnotes.com). This article was first published in the July 2009 issue of
Rough Notes. Reprinted with permission.
LIFE INSURANCE
Life Insurance Agency:
Is It a Numbers Game?
-- R Venugopal
Life insurance is never boughtit is always sold, so goes a saying. This underlies the fact that people
never go to purchase a life insurance policy as they do for other needs, like food, clothing and shelter. Although
life insurance can be called the fourth need after fulfilling the three basic needs, it needs an intermediary,
an agent or advisor who would sit with the proposer, discuss his needs, his capacity to pay a certain amount
as premium and a suitable scheme. Such being the importance of life insurance as a subject, it goes
without saying that an agent should be knowledgeable, sincere and service-oriented.
© 2009 IUP. All Rights Reserved.
CASE STUDY
The Role of Distribution Channels in Life Insurance Business:
An Indian Perspective
-- Krishna Kumar Agarwal and Rajesh Kr. Upadhyay
India is moving fast to emerge as one of the strongest economies in the world by 2020. One of the
fastest growing industries in the service sector is, insurance. With the entry of private players and
foreign collaborations, the life insurance business in India has grown tremendously. The major contributing
factors for this growth are the introduction of new products and channels of distribution as well as the penetration
of private insurance companies in uncovered markets. This study aims at exploring the role of
different distribution channels in the growth of the life insurance industry.
© 2009 IUP. All Rights Reserved.
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