problems brought about by principal agency connection. Mallin (2004), explained in this context that agents are managers, principal are owners and board of directors are monitoring device. Many researchers has examined the board composition due to the importance of the monitoring and governance function of the board (Barnhart, Mar and Rosentein 1994: Pearce and Zahra 1992: Gales and Kesner 1994). They confirm that agency theory considers that the primary responsibility of board of directors is towards the
Evolution and Awareness of Health Insurance in India Of all the risks facing households, health risks pose the greatest threat to lives and livelihoods. The uncertainty of illness and the cost of health expenditure is always a peril. The high cost of hospital services coupled with the unpredictability of health needs and the inadequacy of personal savings is the primary reason for the growing importance of insurance as a means of financing health services. Medical insurance coverage separates time of payment
our everyday life, insurance policies evolved to match the demands imposed by the market. As time goes by, the percentage of Maltese travelling abroad is constantly fluctuating and thus the importance and popularity of travel insurance is increasing. Furthermore, Malta has a very good strategic geographical position, connecting Europe to Africa, and thus making it very attractive for air and sea transport. The general idea is that travel insurance is a modern form of insurance. Conversely
purchased relieves pressure on the social welfare systems in many countries. Therefore, life insurance is generally viewed with favor by governments. Many countries have acknowledged this by granting tax relief to policyholders. Currently, tax incentives to life insurance policyholders are widespread among OECD member countries. A Swiss Reinsurance Company (1987) study demonstrates that privately purchased life insurance can substitute for government-provided benefits and vice versa. The obtained results
3 HISTORY The Oriental Life Insurance Company, the first corporate entity in India offering
Life insurance is a contract between two parties: the insurer and the insured. The insurer is the party that receives the premiums from the insured and pays a certain amount of money to a previously assigned beneficiary. The payment is done upon the death or due to the occurrence of other unfortunate events, such as critical or terminal illnesses of the insured. The premium can be paid either as an annuity or in the form of a lump sum. Funeral expenses might also be included in the insurance policy
In this part we employed gap analysis proposed by A. Parasuraman, Valarie A. Zeithaml, Leonard L. Berry (1985). The data obtained was plot into importance-performance graph to analyze the gap and recommend areas for improvement. Therefore using this approach we were able to measure the intangible performance of the audit process and therefore find its effectiveness in delivering value to the organization
Union Assurance is one of Sri Lanka’s largest providers of life insurance solutions in the country. Anchored by a team of experienced and dynamic professionals, a strong capital base and reinsurance partnerships with highly rated global reinsurers, Union Assurance offers a wide range of tailor-made insurance products and services that are of international standards. Our vision is to be the most sought after provider of insurance solutions. In order to live our vision we constantly review our product
accepted as a prerequisite to the validity and lawfulness of an insurance contract especially under English law as will be seen below. Scholars would like to pin the development of the doctrine of insurable interest in English law from the case of Sadler’s Co v Badcock , which ruled that if one was to characterize a contract as one of insurance, an insurable interest had to be established. This was also underscored in Prudential Insurance Co v Inland Revenue Commission where the court said
process of ensuring access to financial services and timely and adequate credit where needed by vulnerable groups such as weaker sections and low income groups at an affordable cost. It primarily represents access to a bank account backed by deposit insurance, access to affordable credit and the payments system. Literature Review 1. Research Paper on, “Financial Inclusion in Gujarat: A Study on Banker’s Initiatives” by Mr. Nanjibhai D. Ranparia includes study of various financial inclusion and to evaluevaluate