Performance Analysis of Hdfc Life Funds - Ii
INTRODUCATIO TO INUDSTRY HISTORY OF INSURANCE PRESENT SCENARIO OF INUSRANCE INDUSTRY TYPES OF INURANCE PLAYERS OF INDUSTRY & THEIR MARKET SHARE PURPOSE & NEED OF INSURANCE DEVELOPMENT OF LIFE INSURANCE IN INDIA ADVANTAGE OF LIFE INSURANCE LIMITATION OF LIFE INSURANCE
INTRODUCTION TO INDUSTRY.
The first methods of transferring or distributing risk were practiced by Chinese and Babylonian traders as long ago as the 2nd and 3rd millennia BC. Chinese merchants traveling treacherous river rapids would redistribute their wares across many vessels to limit the loss due to any single vessel's capsizing. The Babylonians developed a system which was recorded in the famous code of Hammurabi, 1750 BC, and practiced by early Mediterranean sailing merchants. If a merchant received a loan to fund his shipment, he would pay the lender an additional sum in exchange for the lender's guarantee to cancel the loan should the shipment be stolen.
The ancient Athenian "maritime loan" advanced money for voyages with repayment being cancelled if the ship was lost. In the 4th century BC, rates for the loans differed according to safe or dangerous times of year, implying an intuitive pricing of risk with an effect similar to insurance.
The Greek and Romans introduced the origins of health and life insurance. 600 BCE when they created guilds called "benevolent societies" which cared for the families of deceased members, as well as paying funeral expenses of members. Guilds in the Ages served a similar purpose.
The Talmud deals with several aspects of insuring goods. Before insurance was established in the late 17th century, "friendly societies" existed in England, in which people donated amounts of money to a general sum that could be used for emergencies.
Risk is found everywhere. It cannot be eliminated together, only it can be minimized. Human life is full of risk. There is a risk when a man walks on the
INTRODUCTION TO INDUSTRY.
The first methods of transferring or distributing risk were practiced by Chinese and Babylonian traders as long ago as the 2nd and 3rd millennia BC. Chinese merchants traveling treacherous river rapids would redistribute their wares across many vessels to limit the loss due to any single vessel's capsizing. The Babylonians developed a system which was recorded in the famous code of Hammurabi, 1750 BC, and practiced by early Mediterranean sailing merchants. If a merchant received a loan to fund his shipment, he would pay the lender an additional sum in exchange for the lender's guarantee to cancel the loan should the shipment be stolen.
The ancient Athenian "maritime loan" advanced money for voyages with repayment being cancelled if the ship was lost. In the 4th century BC, rates for the loans differed according to safe or dangerous times of year, implying an intuitive pricing of risk with an effect similar to insurance.
The Greek and Romans introduced the origins of health and life insurance. 600 BCE when they created guilds called "benevolent societies" which cared for the families of deceased members, as well as paying funeral expenses of members. Guilds in the Ages served a similar purpose.
The Talmud deals with several aspects of insuring goods. Before insurance was established in the late 17th century, "friendly societies" existed in England, in which people donated amounts of money to a general sum that could be used for emergencies.
Risk is found everywhere. It cannot be eliminated together, only it can be minimized. Human life is full of risk. There is a risk when a man walks on the