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Introduction :- Insurance is a system of spreading the pretend of one onto the shoulders of musical compositiony. While it becomes somewhat impossible for a man to bear by himself 100% loss to his own retention or interest arising out of an unforeseen contingency, redress is a method or process which distributes the burden of the loss on a number of persons within the group formed for this crabbed purpose. Basic human trait is to be averse to the radical of risk taking. Insurance, whether life or non-life, provides people with a fair(a) degree of security and assurance that they will be saved in the event of a calamity or ruin of any sort. Insurance may be described as a social device to reduce or take place risk of loss to life and property. Under the plan of indemnity, a large number of people associate themselves by share risks attached to individuals. The risks, which can be assure against, include fire, the perils of sea, shoemakers last and accidents and burglary. Any risk contingent upon these, may be insured against at a premium commensurate with the risk involved. so collective bearing of risk is insurance. Insurance Indian tarradiddle :- The history of life insurance in India dates back to 1818 when it was conceived as a means to provide for English Widows.

Interestingly in those days a higher premium was charged for Indian lives than the non-Indian lives as Indian lives were considered more risky for coverage. The Bombay Mutual bread and butter Insurance Society started its business in 1870. It was the first community to charge same premium for both Indian and non-Indian lives. The oriental person Assurance Company was established in 1880. The General insurance business in India, on the other hand, can touching its roots to the Triton (Tital) Insurance Company Limited, the first worldwide insurance company established in the year 1850 in Calcutta by the British. Till the end of nineteenth century insurance business was almost entirely in the hands of overseas companies. Insurance... If you want to get a full essay, order it on our website: Orderessay

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