Description
Assignment Sample Solution: Insurance and risk management December 2024
NMIM$ Global Access
School for Continuing Education (NGA-SCE)
Course: Insurance and risk management December 2024
Internal Assignment Applicable for December 2024 Examination
Q1. You are a newly hired financial advisor at a leading insurance firm. Your first major task
is to prepare a write up for a community seminar aimed at educating individuals about the
importance of life insurance. The audience includes a diverse group of people: young
professionals, young families, and retirees. You are required to shed light on life insurance
policy and need for buying life insurance policy. (10 Marks)
Q.2. A new insurance company, ABC Insurance, is planning to enter the Indian market.
Analyze the regulatory environment in India and discuss the implication of Insurance
Regulatory and Development Authority (IRDA) Act, 1999 on the insurance industry as a whole
(10 Marks)
3a) A company has two health insurance policies, one with a sum insured of ₹1 lakh and the
other with a sum insured of ₹2 lakh. If the company makes a health claim, how will the two
insurance policies contribute to the claim? What principle of insurance is applicable in this
scenario? (5 Marks)
3b) Explain the principles of principle of utmost good faith and principle of insurable interest
and their significance in an insurance contract.? (5 Marks)
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