General Insurance Companies Meaning
That money joins the premiums of many thousands of other policyholders and goes into a big pool of funds.
General insurance companies meaning. Let us look at them as per the use and general acceptability. General insurance refers to the insurance which are not covered under life insurance and includes various types of insurance i e. Therefore a general insurance company is to prepare separate. Agriculture insurance company of india limited aic agriculture insurance co.
Insurance such as house insurance and car insurance that does not insure someone s life meaning pronunciation translations and examples. Listed below are some of the most prominent insurance companies in india catering to the needs of the people from all walks of life. List of general insurance companies in india. Insurance contracts that do not come under the ambit of life insurance are called general insurance.
In general insurance works by spreading the cost of unexpected risks among a large number of people in the same region who share similar risks. Life insurance can be understood as the insurance contract in which the life risk of an individual is covered. General insurance or non life insurance policies including automobile and homeowners policies provide payments depending on the loss from a particular financial event. General insurance is typically defined as any insurance that is not determined to be life insurance it is called property and casualty insurance in the united states and canada and non life insurance in continental europe.
Aditya birla general insurance. Of india was formed on december 20 2002 on an order of the government of india and started its operations from april 1 2003. Life insurance general insurance. General insurance companies in india public sector.
Let us make an in depth study of the meaning and preparation of final accounts in the case of general insurance. Meaning of general insurance. The different forms of general insurance are fire marine motor accident and other miscellaneous non life insurance. Least expensive alternative treatment leat.
However general insurance in india is bifurcated as fire engineering marine and miscellaneous insurance. The tangible assets are susceptible to damages and a need to protect the economic value of. Aditya birla general insurance provides insurance products along with optimum protection at pocket friendly rates. Fire marine motor etc.
It has already been stated earlier that the general insurance is subdivided into. The company was been formed to cater to the needs of the agriculture sector and.
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