Licentiate Examination - IC 14 - Regulation of Insurance Business Exam - Important Points
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Insurance companies follow two basic investment theories - Modern Portfolio Theory and Asset Liability Management.
Insurance Accounting - basically the same as other industries but with some differences in view of the way insurance sector works.
Reserves for unexpired risks comes under the Technical Reserves heading
Every insurer will have claims that, for some reason or other, have not yet been reported and the insurer does not know about. Such claims are called as - IBNR (Incurred But Not Reported)
When a person against whom a complaint is made or the complainant fails to comply with the order of District Forum, State and National Commission such a person may be imprisoned for a term minimum one month to maximum three years or with fine minimum Rs 2000 to maximum Rs 10,000 or both
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