Insurance and Risk Management

Course Code: BBA 226

Credit Hour: 3

Course Group: Core Courses

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Introduction to Insurance: Origin and history- Definition-Nature-Scope-Role-social and Economic Values of Insurance. Fundamental Principles- Insurance Contract.

Life Insurance: Contract-kinds of policies and Annuities- Mortality Tables-Claims and Settlement – Premium Plans, Computation of Net Premium, Calculation of Reserve Surplus and its distribution.

Marine Insurance: Contract, types of policies, Marine losses, Claims and settlement.

Fire Insurance: Contract, settlement, Claims, Reinsurance.

Miscellaneous Insurance: Postal Life Insurance, Group Insurance, Accident Insurance, Automobile Insurance.

Risk Management: Definition of Risk, Classification of risk, Insurance as a device for handling risk. Objective of risk management. Fire Hazards, Physical and moral hazards, Approaches toward risk prevention. Peril.

Insurance Business in Bangladesh: Present Pattern of Insurance in Business, Jiban Bima Corporation, Sadharan bima corporation, American Life Insurance Company and other Insurance Companies of Bangladesh.

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Text Book:

M. N. Misra, Insurance: principles and Practice.

Reference book:

M.K. Ghosh and A. N. Agarwala, Insurance Principles, Practice and Legislation G. W. Deneberg, H. S. Ejlers and Harfaman, Risk and Insurance, Prentice – Hall.