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An anti-british outfit Abhinava Bharat was founded by
Infrared radiations-
An error in a computer program is referred as
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Fabianism is closely related to-
D Day is the day when-
Which of the following has the highest wind velocity?
What is Sweet Home Insurance Policy ?
Sweet Home Insurance is package policy covering Building, Content, Machinery Breakdown of Electrical/Electronics Items & Personal Accident cover for insured and spouse.
Insurance is a legal contract between two parties whereby one party called insurer / underwriter undertakes a fixed amount of liability on the happening of a certain event. The other party called insured pays in exchange a fixed some called premium.
2.What is Reinsurance?
Where insurance companies spreads their risk by an arrangement with other underwriters or reinsurance companies, it is called reinsurance.
3.What is Premium?
Premium is the fixed amount of sum paid over the period by insured to insurer in order to secure an insurance policy and to complete the contract of insurance.
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4.What is unearned Premium?
Unearned premium is that portion of the original premium for which protection has not yet been provided because the policy still has some time to run before expiration. A property and liability insurer must carry unearned premium as a liability on its financial statement.
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5.What is Deductible ?
In a policy , the amount which must first be subtracted from the total damage incurred before determining insurance company's liability. Deductible are the portion which insured has to bear in all cases, having a deductible clause in the policy..
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Structural unemployment arises due to
Regulatory body & authorities of Insurance:
i. Insurance regulatory and development authority (IRDA) is the regulatory body of Insurance sector In India. Chairman of IRDA - TS Vijayan
ii. The IRDA was incorporated as a statutory body in April, 2000.
iii. The IRDA opened up the market in August 2000 with the invitation for application for registrations.
iv. Foreign companies were allowed ownership of up to 26%.
v. In December, 2000, the subsidiaries of the General Insurance Corporation of India were restructured as independent companies and at the same time GIC was converted into a national re-insurer.
Parliament passed a bill de-linking the four subsidiaries from GIC in July, 2002.
vi. At present there are 24 general insurance companies including the ECGC and Agriculture Insurance Corporation of India and 23 life insurance companies operating in the country.
vii. The insurance sector is a colossal one and is growing at a speedy rate of 15-20%. Together with banking services, insurance services add about 7% to the country's GDP.
(General Insurance Corporation of India): GIC is the sole reinsurance company in the Indian insurance market with over three decades of experience. GIC has its registered office and headquarters in Mumbai. Chairman & MD of GIC €“ A.K. Roy
i. The entire general insurance business in India was nationalised by General Insurance Business (Nationalisation) Act, 1972 (GIBNA).
ii. General Insurance Corporation of India (GIC) was formed in pursuance of Section 9(1) of GIBNA. It was incorporated on 22 November 1972 under the Companies Act, 1956 as a private company limited by shares. GIC was formed for the purpose of superintending, controlling and carrying on the business of general insurance.
iii. GIC Re has a rating of A- (Excellent) from A. M. Best for its financial strength
iv. After a process of mergers among Indian insurance companies, four companies were left as fully owned subsidiary companies of GIC
National Insurance Company Limited (NICL): is one of the largest and fastest growing general insurance companies in India. The company headquartered at Kolkata was established in 1906, and nationalized in 1972.
i. After nationalisation in 1972, NICL operated as a subsidiary of General Insurance Corporation of India (GIC). Chairman of NICL – Shri NSR Chandraprasad
ii. NICL was spun off as a distinct company under the General Insurance Business (Nationalisation) Amendment Act in 2002
iii. In April, 2004, NIC signed an agreement with Nainital Bank for distribution of its general insurance products through the bank's branches in Uttarakhand, Haryana and New Delhi.
iv. National Insurance Company Ltd (NIC) is one of the leading public sector insurance companies of India, carrying out non life insurance business.
v. NIC's foreign operations are carried out from its branch offices in Nepal. vi. As of 2010, NICL has a AAA rating from Indian rating agency, CRISIL, a subsidiary of Standard and Poor's Company NICL has a range of coverage policies targeting different sectors
i. Personal Insurance policies include medical insurance, accident, property and auto insurance coverage
ii. Rural Insurance policies provide protection against natural and climatic disasters for agriculture and rural businesses
iii. Industrial Insurance policies provide coverage for project, construction, contracts, fire, equipment loss, theft, etc.
iv. Commercial Insurance policies provide protection against loss and damage of property during transportation, transactions, etc
The New India Assurance Company Limited: The New India Assurance Co. Ltd., based in Mumbai is one of the five Government-owned assurance companies of India. It was founded by Dorab Tata in 1919, and was nationalised in 1973. Chairman& MD: Shri G. Srinivasan (headquarter –Mumbai)
i It is the "largest general insurance company of India on the basis of gross premium collection inclusive of foreign operations".
ii. New India Assurance operates both in India and foreign countries. In the recent past it has collaborated with some of the leading public sector banks of India such as State Bank of India, Central Bank of India, Corporation Bank and United Western Bank to increase its distribution network.
The Oriental Insurance Company Limited: was incorporated at Bombay on 12th September 1947.
i. The Company was a wholly owned subsidiary of the Oriental Government Security Life Assurance Company Ltd and was formed to carry out General Insurance business.
ii. The Company was a subsidiary of Life Insurance Corporation of India from 1956 to 1973 ( till the General Insurance Business was nationalized in the country).
iii. In 2003 all shares of our company held by the General Insurance Corporation of India has been transferred to Central Government. Chairman & MD: Dr. A.k Saxena (headquarter –New Delhi)
United India Insurance Company Limited(UIIC): is the one among the 4 public General Insurance Companies of India and a leading General Insurance player including public and private sector.
incorporated as a Company on 18th February 1938.
i. With the networth of Rs 4,587 crores as on September 30, 2011, The company has more than three decades of experience in Non-life Insurance business.
pioneer in taking Insurance to rural masses with large level implementation of Universal Health Insurance Programme of Government of India & Vijaya Raji Janani Kalyan Yojana ( covering 45 lakhs women in the state of Madhya Pradesh) , Tsunami Jan Bima Yojana (in 4 states covering 4.59 lakhs of families) , National Livestock Insurance and many such schemes.
ii. It was formed by the merger of 22 companies, consequent to the nationalisation of General Insurance companies in India. Its Head Quarters is at Chennai, India. Chairman & MD: Shri Milind A Kharat.
COMMITTEE IN NEWS:::::::::
1. Committee Set Up On Uttarakhand Floods: The committee will be headed by AK Ganju (Chairman, Ganga Flood Control Commission, Patna)
2. JS Mathur committee : to revise Newspaper Advertisement Rates.
3. K. Ratna Prabha : Committee on indecent depiction of women in media
4. Mukul Mudgal Committee: looking into US giant Walmart's lobbying activities to enter India
5. Mukul Mudgal Committee: to look at process of film clearance
6. MBN Rao Committee: to prepare the blueprint of India's first women's bank
7. SK Srivastava Committee: to formulate a policy on public-private partnership model to raise coal output
8. K M Chandrasekhar Committee – for rationalization of foreign investment norms
9. Arvind Mayaram Committee –for giving clear definitions to Foreign Direct Investment (FDI) and Foreign Institutional Investment (FII),
10. Janakiraman Committee - To investigate the security transactions of the bank
11. MS Ahluwalia committee - to evaluate aspects related to set up of Nalanda University
12. Sitakant Mahapatra committee - for inclusion of Bhojpuri language in eighth schedule of constitution
13. N R Narayana Murthy committee - for evaluation of corporate sector participation in Higher Education.
14. C Rangarajan committee - for poverty scale estimates in the country
15. MB Shah committee - for inspection of illegal mining activities
16. N Rangachary committee - to examine taxation policies for I.T. sector
17. Parthasarathi Shome committee - implementation of GAAR (General Anti Avoidance Rule).
18. Deepak Parekh committee – for Financing Infrastructure sector
19. Naresh Chandra committee - 14 member task force on security issues
20. Bhandari Committee - Reconstruction of RRBs
21. RS Gujral Committee - suggest measures to boost MSME exports.
Syria is in news for the last couple of weeks.
Which of the below mentioned country is not a neighbor of Syria ??
Statements: All buildings are chalks. No chalk is toffee.
Conclusions:
No building is toffee
All chalks are buildings.
A.Only (1) conclusion follows
B.Only (2) conclusion follows
C.Either (1) or (2) follows
D.Neither (1) nor (2) follows
E.Both (1) and (2) follow