The Fundamentals of Insurance: Theories, Principles and Practices

Notion Press
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Insurance is perhaps the most effective device for managing ‘risk,’ which is a pervasive phenomenon in our lives. We can sometimes avoid or reduce it but never entirely eliminate it.
Whether you are a Graduate student who is studying insurance as a part of your curriculum, or an Executive managing your Organization’s Insurance and Risk Management Program this book will provide you with a strong conceptual foundation, comprehensive knowledge of non-life and life insurance products, and perspectives on how insurance functions as a part of the economy.
Essentially, you will understand ‘why’ it is needed, ‘what’ solutions it provides, and ‘how’ different business processes and professionals work together to deliver the vital compensation to victims of disasters.
Organized in 18 chapters that are comprehensive yet brief, it continuously relates facts to theories, concepts to processes, events to their context, and the rule-of-thumb to underlying basic principles. Thus, insurance will be demystified, and you will be empowered to decode ‘insurance speak.’
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About the author

Hargovind Dayal served from 1981 to 2015, first with United India Insurance Co. Ltd, and then with Reliance General Insurance Co. Ltd. Working in functions ranging from Sales, Claims Management, Underwriting, Customer Service and Learning and Development, provided him with a continuous learning experience which helped him write this book.
During this period of more than thirty-three years he lived and worked in Allahabad, Agra, Lucknow and Mumbai, and carries in his persona the imprint of each of these unique cities. A self-confessed insurance ‘evangelist’, Hargovind immerses himself in Social Work, Indian History and the Spanish Guitar when not at work on projects connected with insurance.

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Additional Information

Publisher
Notion Press
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Published on
Nov 2, 2017
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Pages
164
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ISBN
9781947949683
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Features
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Language
English
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Genres
Business & Economics / Insurance / General
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Content Protection
This content is DRM free.
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Available on Android devices
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Now updated — your guide to getting the best insurance policy

Are you intimidated by insurance? Have no fear — this easy-to-understand guide explains everything you need to know, from getting the most coverage at the best price to dealing with adjusters, filing claims, and more. Whether you're looking for personal or business insurance, you'll see how to avoid common pitfalls, lower your costs, and get what you deserve at claim time.

Get to know the basics — understand how to make good insurance decisions and reduce the chances of a financial loss in your life

Take your insurance on the road — manage your personal automobile risks, handle special situations, insure recreational vehicles, and deal with insurance adjusters

Understand homeowner's and renter's insurance — know what is and isn't covered by typical policies, common exclusions and pitfalls, and how to cover yourself against personal lawsuits

Buy the right umbrella policy — discover the advantages, and coordinate your policies to cover the gaps

Manage life, health, and disability risks — explore individual and group policies, understand Medicare basics, and evaluate long-term disability and long-term-care insurance

Open the book and find:

The best life, health, home, and auto policies

Strategies for handling the claims process to get what you deserve

Tips on adjusting your deductible to suit your lifestyle

How to navigate healthcare policies

Ways to reduce your risk and your premiums

Common traps and loopholes

Considerations for grads, freelancers, and remote workers

“Entertaining and informative. Desai takes us on a journey through the fundamentals of finance, from asset pricing to risk and risk management, via options, mergers, debt, and bankruptcy."- John Lanchester, The New Yorker

"A fascinating new perspective on modern finance," --Oliver Hart, 2016 Nobel Laureate in Economics

"Lucid, witty and delightfully erudite...From the French revolution to film noir, from the history of probability to Jane Austen and The Simpsons, this is an astonishing intellectual feast." --Sebastian Mallaby, author of The Man Who Knew: The Life and Times of Alan Greenspan

Longlisted for 2017 Financial Times/McKinsey Business Book of the Year 

A 2017 AMAZON PICK IN BUSINESS & LEADERSHIP

A WealthManagement.com BEST BUSINESS BOOK OF 2017

In 1688, essayist Josef de la Vega described finance as both “the fairest and most deceitful business . . . the noblest and the most infamous in the world, the finest and most vulgar on earth.”

The characterization of finance as deceitful, infamous, and vulgar still rings true today – particularly in the wake of the 2008 financial crisis. But, what happened to the fairest, noblest, and finest profession that de la Vega saw? 

De la Vega hit on an essential truth that has been forgotten: finance can be just as principled, life-affirming, and worthy as it can be fraught with questionable practices.  Today, finance is shrouded in mystery for outsiders, while many insiders are uneasy with the disrepute of their profession.  How can finance become more accessible and also recover its nobility?

Harvard Business School professor Mihir Desai, in his “last lecture” to the graduating Harvard MBA class of 2015, took up the cause of restoring humanity to finance. With incisive wit and irony, his lecture drew upon a rich knowledge of literature, film, history, and philosophy to explain the inner workings of finance in a manner that has never been seen before.

This book captures Desai’s lucid exploration of the ideas of finance as seen through the unusual prism of the humanities. Through this novel, creative approach, Desai shows that outsiders can access the underlying ideas easily and insiders can reacquaint themselves with the core humanity of their profession.

The mix of finance and the humanities creates unusual pairings: Jane Austen and Anthony Trollope are guides to risk management; Jeff Koons becomes an advocate of leverage; and Mel Brooks’s The Producers teaches us about fiduciary responsibility. In Desai’s vision, the principles of finance also provide answers to critical questions in our lives. Among many surprising parallels, bankruptcy teaches us how to react to failure, the lessons of mergers apply to marriages, and the Capital Asset Pricing Model demonstrates the true value of relationships.
THE WISDOM OF FINANCE is a wholly unique book, offering a refreshing new perspective on one of the world’s most complex and misunderstood professions.    
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