AHSEC 2nd Year Syllabus 2024-25 Insurance

INSURANCE Introduction : The increasing complexity of business organisation and the risk involved in the present day world makes it obligatory for students choosing commerce as a career to be conversant with the principles and practice of insurance. A study of these principles and practice will make the students aware of the function of insurance in general and the purpose of its business in particular. The present syllabus of insurance paper for Higher Secondary First Year and Second Year class is framed in such a way that it covers the entire course of study within the prescribed time limit of the Council. The topics included in the course of study are expected to be helpful to the student who wish to pursue higher studies in the subject and also provide opportunity to those who wish to choose careers in insurance. As such the major objectives of teaching insurance at Higher Secondary stage are as follows: 1. To acquire knowledge and understand various definitions, concepts, terms and insurance principles. 2. To acquaint the students with practice and procedure of insurance business. 3. To create an awareness of the necessity of insurance in business as well as in the society. 4. To give fundamental knowledge regarding organisation and operation of insurance business. 5. To understand the importance of insurance and its scope in modern business. INSURANCE SYLLABUS FOR HIGHER SECONDARY FINAL YEAR COURSE One Paper Three Hours Marks 100 Unitwise Distribution of Marks and Periods : Unit No. Title Marks Periods Unit-l General Insurance Act 10 20 FIRE INSURANCE Unit-2 Fundamental Principle of Fire Insurance 10 20 Unit-3 Fire Insurance Policies 10 20 Unit-4 Procedure of Claims 10 20 MARINE INSURANCE Unit-5 Fundamental Principle of Marine Insurance 10 20 Unit-6 Types of Marine Insurance Policies 10 20 Unit-7 Marine Losses and Claim 20 40 MISCELLANEOUS INSURANCE Unit-8 Introduction and Classes of Miscellaneous Insurance 20 40 Total 100 200

2 Syllabi for H.S. Final Year Unitwise Distribution of Course contents : Unit-1 : General Insurance Act : (i) Marine Insurance Act 1963 (ii) General Insurance Business (Nationalization) Act 1972 Organization and its working GICI and its subsidiaries FIRE INSURANCE Unit-2 : Fundamental Principles of Fire Insurance : Introduction- definition-meaning and causes of Fire, Functions of Fire Insurance, History of Fire Insurance. Fundamental Principles– utmost good faith, insurable interest, indemnity and Subrogation. Dis- tinction between Fire insurance and gambling, Fire insurance and life insurance. Unit-3 : Fire Insurance Policies : Procedure for taking out a Fire insurance policy; Renewal of Policy, cancellation and assignment of a Fire insurance policy. Proposal Form, classification of risks, Fire tariff and fixation of rate of premium. Unit-4 : Procedure of claims : Procedure for recovering claim under fire policy. Effects of more than one fire and one policy on claim, Ex-gratia payment, Rating and average condition and its effect on claim. MARINE INSURANCE Unit-5 : Fundamental Principles of Marine Insurance : Meaning and definition of Marine insurance contract. Subject matter of Marine Insurance policy, Origin of Marine insurance. Principles of Marine insurance policy. Distinction between Marine insurance and Life insurance and Fire Insurance. Unit-6 : Types of Marine insurance policy : Different types of Marine insurance policy, Clauses in a marine insurance policy, Bottomry Bond, Respondentia Bond. Unit-7 : Marine Losses and Claims : Types of Marine losses- total loss, actual total loss, constructive total loss, partial Loss, Particular loss and general loss. Procedure for making a claim under marine policy. Distinction between- actual and constructive total loss, Partial losses, Particular Average loss and general average loss. Unit-8 : Miscellaneous insurance and classes of Miscellaneous insurance : Personal accidental insurance, definition and feature of personal accidental Insurance. Motor ve- hicle insurance, Burglary insurance, Credit insurance, Fidelity insurance and employer liability insurance, Mediclaim. ***