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c c 


?


?           The main function of insurance is providing


certainty of payment at the uncertainty of loss. The financial loss of the
individual entity are equitably distributed over the many. In fire insurance,
for example, the policy holders pay premiums into a common pool, out of
which those who suffer loss are compensated. ?
?         The main function of the insurance is to
provide to the public on terms attractive enough to encourage them to insure
and yet sufficient to offer a reasonable margin of profit. ?
?      Insurance means protection against risk of
loss. It covers the risk of loss. The insurance company agrees to give the
payment of loss to the insured party against any actual loss or damage
involved in business. ?
?          
   Insurance ha made possible,
and helps to maintain, the present day large scale industrial and commercial
organization. A trade or businessman wants to carry on his business free
from risks whenever possible. Insurance safeguards capital and at the same
time it avoids the necessity on the part of industrialist and others of freezing
capital to guard against various contingencies. Thus, insurance leads to
development of business enterprises. ?
?   
  
 !  The insurance eliminates worries and
uncertainty of risks. In personal form of insurance is relieved from hardship
and anxiety. Thus, insurance improves not only his efficiency but the
efficiencies of the masses are also advanced. ?
?    "   The community would suffer much
greater economic impoverishment through material losses if it were not for
the loss prevention measures of insurers. The insurance joins hands with
those institutions which are engaged in preventing the loss of the society
because the reduction is loss causes lesser payment to the assured and so
more saving is possible which will assist in reducing the premium. ?
?        Insurance provides not only protection but
also capital to the society. Usually, accumulated funds through savings in the
form of insurance premium invested in economic development or
productivity plans. ?
?        : Some of the social problems which
beset a modern civilized community are taken care of through insurance. At
present, we have insurance against industrial injuries, road accidents, old
age, disability or death etc. Thus, insurance act as a good instrument for
solving many social problems. ?
?        Insurance provides not only protection but
also capital to the society. Usually accumulated funds are invested in
economic development plans. ?

?         Some of the social problems which
beset a modern civilized community are taken care of through insurance. At
present, we have insurance against industrial injuries, road accidents, old
age, disability or death etc. Thus, insurance act as a good instrument for
solving many social problems. ?
?   c   Because of the investment policy of Insurers, their

reserve funds are not static, but are used productively. Thus, results in a
reduction of the cost of insurance to the insuring public.?