BE CAREFUL

Be care about your life because we not have more life today day .

Are you sure about your life and property

Please if you are not sure about your life do insurance of your and your property .

   It increases borrowing capacity of business firms
                while granting loan, banks and financial institutions perfer business firms
                    whose properties are insured. the insured properties work as good whose
                   collateral against borrowing, the landers grant adequate loan against such
                   collateral.thus it increases the borrowing capacity of business firms.

                       It increases business efficiency
                
                      uncertainty of loss may spoil the efficiency of business people.under non-
                      life insurance, the owner of the business guaranted a payment against
                      damage, destruction or dissappearance of property. as a result, the business
                     people can work with free of mind and wiyh increased efficiency.

                             It help in social property
                        Non-life insurance protect against the loss from damage property at fire,
                       accident etc. cattle, crop, profit , and machines are also protected against
                     their accidental and econamic losses. this help the people and businees to
                     prosper who are memeber of the society, the prosperity of the members of the
                   society contributes to the wellbeing of the society as a whole

                      It contributes to economic growth
             Non-life insurance protects against loss of property and encourages people
                to allocate more capital to produce more wealyh. for example, it promotes
                agricultural development by offering protection against loss of cattle and
              corps. it also promotes business growth by offering protection against loss of
              businessproperty or by minimizing business liability created by accidents,
            fire ans so on. As a result it contributes to yhe economic growth of the nations.

IMPORTANCE OF NON-LIFE INSURANCE

Non-life insurance is a contract of indemnity between insurance company
                          and the policyholder. as a contractof indemnity, it has gained increasing
                          popularity among business houses, industries, homeowners, international
                          traders ans so on. Non-life insurance is important is important in the following aspects:
                        
                       Importance of non-life insurance
It offers safety and security.
It brings peace of mind to policyholder.
It reduces business losses.
It increases borrowing capacity of  business firms.  
It increases business efficiency.
it helps in social prosperity.
it contribute to economic growth.

          It offers safety and security
      Non-life insurance provides safety and security against losses on a particular
      events. it offers safety and security against loss from fire ,
        ,damage, destruction or disappearance of property, machine etc.
         It brings peace of mind to policyholders  
         If people feel more secured, they are motivated to work more ans efficiently.
        The non-life insurance offers security against the event of fire,windstorm,accident
      ,damage so that people may work with the peace of mind.
        
     it reduces business losses
     business organizations, commercial enterprises and industrial establishment
      own properties worth millions of rupeess. a slight negligence may damage these
     properties causing huge amount of losses to the business. such losses can be transferred
    to insurance company by purchasing property and liability insurance policies. therefore               insurance of properties reduces the losses of business              

LIFE IS LIKE ROSE SO DO INSURANCE.

We know life is only for an hour which can be damage any time. Like rose so please all you do insurance of yours,family and your property it is very important for our life.

Motor/ accidnt insurance

Motor insurance is mandatory in many countries. It is dsigned to take care of those who may get injurd in an accident. This insurance also includs compensation againist damage of vehicles, but it is not mandatory.

Motor/ accident insurance may have the following coverags:

·       Liability arising in respect of death or injury of any person, owner of the vehicles in the carriage.

·       Liability incurred in rspects of damage to any property of third party.

·       Liability in respect of demage of vehicle

Generally, two types of motor insurance policies are avaliable for all types of vehicles: third party liablity policy and comprehensive damage losses policy. Under third party liability policy, the insurer indemnifies the insured against all sums which he/she may become legally liable to any person includeding occupants of the insured vehicles. Onthe other hand, comprehnsive damage losses policy covers an entire range of risks including fire, explosion, self-ignition, lightening, terrorist activity, malicious act riot and strike.

Alternative Packeges of Non-Life Insurance

Beside marine, fir and motor/ accident insuranc, the non-life insuranc offrs som other alternative packages as discussed below:

1.   Commerical package insurance

2.   Liability insurance

1.Commerical package insurance

If two or more policy are combined into a packag, it is called commerical package insurance. It combins both commrical proprty and liability insurance and also called commerical multiple perils insurance.In others words, it is the combination of two or more policies that covers risk of loss in a package against various sources.This also covers the risak of loss in commerical property by fire. Business organization like banks, hotels, business apartments, departmental stores, super markets, retail stores etc. can purches commrical packag insurance policy againast various kinds of risk. Business organizations use various kinds of valuable property such as land, business apartments, buildings, machinaries, equpement, furniturs and so on.Some unexpected result may arise causing in destruction in this properties. Beside damageof the properties, the business organazation may have to bear an unexpected resulting from unanticipated events. Risk of these types can be transferred to insurance company through the purchase of commerical package insurance.

2.Liabilitiy insurance

liability insurance is concrned with the work place and issues arising out of working conditions,death, accident at work, and unforseen incidnts while in employment. This also includes the third party liability of manufacturers towards their customers as well as similar liability of professionals towards user of their services. The liability insurance covrs the following liabilities:

·       Employee liabilities lated to working conditions.

·      Non-industrial risk rlatd to non-industrial but mainly commerical entrpries.

·      Employee state insurance liability related to injury to any employee while at work.

·      Properssional liabilitiesthat arise from the practice of a particular professional.

·      Product liabilities that arise from the sale of products to customers and resulting damage to any customer due to fault in the product.

MARINE INSURENCE

Marine insurance is the oldest form of non life insurance. It is a contract between insurer and insurd under which the insurer compensates the insured in agreed manner against marine losses. Marine insurance has four broad components: hull insurance, cargo insurance, liability insurance and fright insurance.

Hull insurance is concerned with the insurance of th carrier of the goods and is purchased by the owner of the vechicles (such as insurance of vessel and its equipment). cargo insurance provides coverage for losses that could occur to the goods in transit on sea, road, rail and air. it can cover shipment of inland ship, steamers, boats and crafts; coastal shipment by steamers, sailing vessels; import export shipments by ocean going vessels of all types; and consignment shipped by rail, road, and air. liability insurance is concerned with any kinds of liability hazards that is created because of non- compliance of rules and regulation. fright insurance provides coverage for the losses of the cargo freight due to non- delivery of oods transported.

Types of marine insurance policies

The major types of marine insurance policies are as follows:

1.       voyage policy

2.       Time policy

3.       Mixed policy

4.       Valued and unvalued policy

5.       Floating policy

6.       Blanket policy

1. Voyage policy

  This policy is issued covering the risk of voyage from one place to another place. Under this policy, the rout of voyage specifying the place of departure to the place of destination is stated along with the tim period to cover the risk. the  insurd is compensated if loss occurs during the stated period. the policy is particularly useful for cargo insurance.

2.Time policy

This policy specifica certain time period for insurance to ramin in effect. In other words, the subject matter is insured under this policy for a definition period of time, for examples, from 4A.M. of Chaitra last 2069.It is particularly useful for hull insurance and its covers the risk of both while navigation and while constructing.

3.Mixed policy

It is the combination of voyage and time policy.It contains the elements of both voyage and times policies. This policy specific the traveling route along with the definite period of time and is useful for both hull insurance and cargo insurance.

4.Valued and unvalued policy

Under valued policy, the value of subject matter is pree-agred between insurer and the insured. The loss to be compensated is fixed as per the agreed value. However, the insured value is not necessarily the actual value. It may be total of cost of goods, freight, insurance charge, transportation costs along with certain margin of profit or it may be any agreed value. As opposed to valued policy, vaqluee of the policy is not determined at the time of commencementof risk under unvalued policy. It is determined at the time when loss actually occurs.

5.Floating policy

Under this policy, the insured declares the value or amount of insured goods on the basis of shipmnt documents and the insurer accepts it. This policy is suitable in case of cargo insurance and generally taken for a larger lump sum amount.The cargo owner makes declaration of the shipmnt value at each shipmnt.With each declerations the amount of policy will be reduced until the insured sum is fully declard.

6.Blankt policy

Under this policy, certain policy amount is fixed at the beginning and the premium for the stated policy amount is paid. In th event of loss,the amount of premium is readjusted according to the actual loss. For xamples, if actual loss is greatr than th policy amount, th insured has to pay additional premium to claim against actual loss. If the actual loss is less than policy amount the excess premium is refunded to the insured.