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Insurance

IRDA

As a finance professor, I would like to introduce you to the Insurance Regulatory and Development Authority of India (IRDAI). This governing body serves as the backbone of the insurance industry in India, safeguarding the rights of policyholders and promoting the steady development of this sector. Through its regulatory efforts, the IRDAI ensures the proper functioning and growth of the insurance market in India.

Loss exposure

Risk is an inherent part of any financial decision-making process. It refers to the possibility of incurring a loss, and it is essential to understand the various types of r...

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Extra expense insurance

In financial terms, consequential property insurance refers to a type of coverage that protects businesses from the financial consequences of an interruption. This means tha...

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Claim Amount

The term "payable amount" refers to the sum of money that is due upon the completion of a policy or when a claim is made. This amount is typically determined at the beginnin...

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Conditional Receipt

A policy owner will receive a receipt upon paying a premium at the time of application. This receipt serves as a binding agreement between the insurance company and the owne...

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