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  Amity Business School Presented by: Akash Pandey(D25) INSURANCE SECTOR ADVERTISING  Amity Business School The !ean n# $% Ins&ran'e s !$rtant %$r &nderstand %$r anyb$dy that s '$ns der n# b&y n# an ns&ran'e $ 'y $r s !y &nderstand n# the bas 's $% % nan'e*Ins&ran'e s a +ed# n# Instr&!ent &sed as re'a&t $nary !eas&re a#a nst %&t&re '$nt n#ent $sses* Th s nstr&!ent s &sed %$r !ana# n# the $ss be r sks $% the %&t&re* In the words of justice Tindall  , ,Ins&ran'e s a '$ntra't n -h 'h a s&! $% !$ney s a d t$ the ass&red as '$ns derat $n $% ns&rer.s n'&rr n# the r sk $% ay n# a ar#e s&! &$n a # /en '$nt n#en'y*0 The 1ean n# $% Ins&ran'e  Amity Business School History of Insurance in India htt:---*!ed nd a*netat ents ns&ran'e ns&ran'e3'$n'ets3and3 rda3h st$ry*ht! PhasesPeriodIndustry Phase 4a* %e Ins&ran'eb* Genera Ins&ran'e 4646 t$ 4758( ab$&t 496 yrs)465 t$ 47;2(ab$&t 422 yrs)1any (2<5) r /ate se't$r '$!an es $ny*1any (4;) Pr /ate se't$r '$!an es $ny*Phase 2a* %e Ins&ran'eb* Genera Ins&ran'e4758 t$ 2(ab$&t << yrs)47;2 t$ 2 (ab$&t 26 yrs)Nat $na =at $n> &b ' se't$r $r state !$n$$y> $ny $ne '$!any*Nat $na =at $n* P&b ' se't$r !$n$$y> $ny 4 '$!any*Phase 9 %e Ins&ran'e and Genera Ins&ran'e A%ter 2Oened t$ the entry $% r /ate d$!est ' and %$re #n '$!an es> ! ?ed se't$r $% &b ' and r /ate se't$r &n ts*  Amity Business School History of Insurance in India contd…   ã1818 First life Insurance company “ Oriental Life Insurance company (in Calcutta).ã1850 First general insurance company “ ritan Insurance Company (in Calcutta).ãill 1!5 #1!$% life an& general insurance in&ustry gro'n in terms of numer of companies (life %5 an& general 10$ 'it* complete pri+ate sector o'ners*ip), t*e +olume of premium, in+estile resources, an& so on.ã*e insurance 'as regulate& t*roug* t*e Insurance -ct, 1!8.
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