ASSIGNMENT

DRIVE SPRING 2014

PROGRAM MBADS (SEM 4/SEM 6)
MBAFLEX/ MBAN2 (SEM 4)
PGDFMN (SEM 2)
SUBJECT CODE &
NAME
MF0018 & INSURANCE AND RISK MANAGEMENT
BK ID B1816
CREDIT & MARKS 4 Credits, 60 marks


Q.No Questions Marks Total Marks
1 Risk is used to describe any situation involving an uncertainty about the
outcome. What is the meaning of risk management? Explain the Risk
Management process and methods with a flow chart.
A Introduction of risk management
Explanation of risk management process
Explanation of risk management methods
Flow Chart
2
3
3
2

10
2 Insurance industry is highly regulated in all the countries.
Explain on solvency margin and methods of determining solvency margins. Write
down the claim procedures in respect of a general insurance policy.
A Introduction of solvency margin
Methods of determining solvency margins
Explanation of claim procedures in respect of a
general insurance policy
2
3
5
10
3 What do you understand by the concept of insurable interest? Write down about
the essentials, creation and application of insurable interest.
How does a life insurance plan work and write about the two key elements.
Also write about riders.
A Explanation on concept of insurable interest
Essentials, creation and application of
insurable interest
Explanation on life insurance plan with two
elements
Explanation on riders
2
3

3

2
10
4 Liability insurance is classified into two categories. Explain on the types of
liability policies and explain on aviation insurance with all the three section of the
policy.
A Explanation on types of liability policies 5 10





Explanation on aviation insurance with three
section of the policy

5

5 When a policy has been issued, the risk for the danger insured against gets
covered.
Explain on the evidence and claim notice. Also write about the Extent of liability
A Explanation on the evidence and claim notice
Explanation on extent of liability
5
5
10
6 Insurance Ombudsman was created for quick disposal of the grievances of the
insured customers. Write the complete information on Insurance Ombudsman.
A Explanation on Insurance Ombudsman 10 10
*A-Answer

Note Answer all questions. Kindly note that answers for 10 marks questions should be
approximately of 400 words. Each question is followed by evaluation scheme.