Indian General Insurance Industry And Its Scope In International Market

Authors

  • Anupam Bachhil Research Scholar, Sai Nath University, Ranchi, India Author
  • Roopam Bachhil Research Scholar, Sai Nath University, Ranchi, India Author
  • Shantanu Kumar Srivastava Assistant Professor, Department of Commerce & Management, Sai Nath University, Ranchi, India Author

Keywords:

Foreign insurance, Risk, IRDA, Micro-insurance, Macro insurance

Abstract

General Insurance is typically defined as any insurance that is not  determined to be life insurance but “General Insurance comprises  of insurance of property against fire, burglary etc and personal  insurance such as Accident and Health Insurance and liability  insurance which covers legal liabilities”[1]. “There are also other  covers such as Errors and Omissions insurance for professionals,  credit insurance” [1]. “General Insurance acts as aegis to the  financial causalities and alongside it also acts an economical  back-up for a nation’s economy” [2].Insurance allied up with  banking sector dispenses up to 7% of India’s total GDP. Till date  we have observed foreign insurance companies engaging into  Indian markets and having share of 24% of FDI being allowed in  the Indian market. 

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References

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Published

2021-11-30

Issue

Vol. 8 No. 6 (2021): International Journal of Innovative Research in Engineering & Management (Nov) 2021

Section

Articles

How to Cite

Indian General Insurance Industry And Its Scope In International Market . (2021). International Journal of Innovative Research in Engineering & Management, 8(6), 1117–1120. Retrieved from https://acspublisher.com/journals/index.php/ijirem/article/view/12021