Go Back   ManagementParadise.com | Management & Business Education Learning Platform Upload / Download Banking and Insurance Projects and Notes > Taxation and financial services

Fire and Marine Insurance Pricing:

Discuss Fire and Marine Insurance Pricing: within the Taxation and financial services forums, part of the Upload / Download Banking and Insurance Projects and Notes category; Fire and Marine Insurance Pricing: The principle of utmost good faith is applicable even for fire and marine insurance. E.g.: ...

Reply

 

Thread Tools Display Modes
Fire and Marine Insurance Pricing:
Old
 (1 (permalink))
Abhijeet S
abhishreshthaa is a splendid one to beholdabhishreshthaa is a splendid one to beholdabhishreshthaa is a splendid one to beholdabhishreshthaa is a splendid one to beholdabhishreshthaa is a splendid one to beholdabhishreshthaa is a splendid one to beholdabhishreshthaa is a splendid one to behold
 
abhishreshthaa
Operations Manager at Management Paradise
Management Paradise Guru
 
Status: Offline
Posts: 7,045
Join Date: May 2010
Fire and Marine Insurance Pricing: - September 25th, 2010

Fire and Marine Insurance Pricing:


The principle of utmost good faith is applicable even for fire and marine insurance.


E.g.: If a trader while taking a fire insurance policy does not disclose the previous occurrence of fire in the factory, and subsequently after taking policy, there is another fire, the insurance company may refuse to pay the compensation if it learns about the previous occurrence of fire which was not disclosed at the time of taking the policy.


The pricing in case of fire and marine insurance is done on the basis of:


Past Experience:

If a fire or marine insurance company has a past experience of settling a claim successfully then, the credibility of the company increases and it charges higher premium for similar policies.

The customers are assured that the company will be able to handle the claim well as it was done in past and hence they are ready to pay higher premium.
Advertisements



Help Others > Network > Grow


Work with us part time/full time as forum moderator. Email us your resume on careers @ managementparadise.com PLS PRESS THANKS BUTTON IF U LIKED MY POST.


To view links or images in signatures your post count must be 0 or greater. You currently have 0 posts.
Friends: (0)
Reply With Quote
Re: Fire and Marine Insurance Pricing:
Old
 (2 (permalink))
Jitendra Mazee
jitendra05 is on a distinguished road
 
jitendra05
Student of Bachelor of Engineering at RGTU Bhopal
Bhopal, Madhya Pradesh
Management Paradise Guru
 
Institute: RGTU Bhopal
Status: Offline
Posts: 27,848
Join Date: Jan 2016
Location: Bhopal, Madhya Pradesh
Re: Fire and Marine Insurance Pricing: - February 25th, 2016

Quote:
Originally Posted by abhishreshthaa View Post
Fire and Marine Insurance Pricing:


The principle of utmost good faith is applicable even for fire and marine insurance.


E.g.: If a trader while taking a fire insurance policy does not disclose the previous occurrence of fire in the factory, and subsequently after taking policy, there is another fire, the insurance company may refuse to pay the compensation if it learns about the previous occurrence of fire which was not disclosed at the time of taking the policy.


The pricing in case of fire and marine insurance is done on the basis of:


Past Experience:

If a fire or marine insurance company has a past experience of settling a claim successfully then, the credibility of the company increases and it charges higher premium for similar policies.

The customers are assured that the company will be able to handle the claim well as it was done in past and hence they are ready to pay higher premium.
Hey abhi, thanks for explaining about the fire and marine insurance pricing and i am really impressed by your work. Well, i have also got some information related to marine insurance and would like to share with you. So please download and check it.
Attached Files
File Type: pdf Fire and Marine Insurance Pricing.pdf (252.7 KB, 0 views)
Friends: (0)
Reply With Quote
Reply

Bookmarks

Tags
fire, insurance, marine, pricing
Related to Fire and Marine Insurance Pricing:
 

Similar Threads

Thread Thread Starter Forum Replies Last Post
nots Export-Import Cargo (Marine) Insurance Meghana Dhamnaskar Export - Import Procedures 10 July 18th, 2011 07:08 AM
Fire Insurance snerwal PUBLISH / UPLOAD PROJECT OR DOWNLOAD REFERENCE PROJECT 3 April 3rd, 2010 11:08 PM
marine insurance Kruti Mehta Innovations in banking and insurance. 8 January 18th, 2010 08:00 PM
Indiana Insurance Appoints Frankovich as Inland Marine Manager Loading... Maya Raichura Articles !! 0 July 9th, 2008 11:55 AM
Marine Insurance Act Swapnil Made Innovations in banking and insurance. 7 June 3rd, 2007 09:05 PM
 


Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are Off


ManagementParadise.com is not responsible for the views and opinion of the posters. The posters and only posters shall be liable for any copyright infringement.



Search Engine Optimization by vBSEO ©2011, Crawlability, Inc.