Question:
Write short notes on different types of marine insurance.
Answer:
Different types of marine insurance are as follows:
- Cargo Insurance: Cargo insurance caters specifically to the cargo of the ship and also pertains to the belongings of a ship's voyagers.
- Hull Insurance: Hull insurance mainly caters to the torso and hull of the vessel along with all the articles and pieces of furniture in the ship. This type of marine insurance is mainly taken out by the owner of the ship in order to avoid any loss to the ship in case of any mishaps occurring.
- Liability Insurance: Liability insurance is that type of marine insurance, where compensation is sought to be provided to any liability, occurring on account of a ship crashing or colliding and on account of any other induced attacks.
- Freight Insurance: Freight insurance offers and provides protection to merchant vessels' corporations which stand a chance of losing money in the form of freight in case the cargo is lost due to the ship meeting with an accident. This type of marine insurance solves the problem of companies losing money because of a few unprecedented events and accidents occurring.
Business Services
Q 1.
Explain the functions of commercial banks with an example of each.
Q 2.
What are different types of warehouses?
Q 3.
Explain different types of life insurance policies.
Q 4.
Write a short note on Indian insurance sector.
Q 5.
Explain the functions of e-banking.
Q 6.
Explain warehousing and its functions.
Q 7.
What do you mean by mode of transport? Name different modes of transport.
Q 8.
There are three types of services: Business Services, Social Services and Personal Services. Which of the services in your opinion are of utmost importance and why?
Q 9.
Define services and goods.
Q 10.
A person took an insurance policy and did not disclose that he is a patient of cancer. Which value is missing in this case?
Q 11.
Explain briefly the principles of insurance with suitable examples.
Q 12.
Explain in detail the warehousing services.
Q 13.
What is e-banking? What are the advantages of e-banking?
Q 14.
Write short notes on different types of marine insurance.
Q 15.
What are services? Explain their distinct characteristics.
Q 16.
A person gets his stock of goods insured, but he hides the fact that the electricity board has issued him statutory warning letter to get his factory's wiring changed later on, the factory catches fire due to short circuit. Can he claim compensation? State the name of "Principle".
Q 17.
Write a short note on GATS.
Q 18.
Write a note on various telecom services available for enhancing business.
Q 19.
Manju obtained a life insurance policy of her husband. After 5 years, she divorced her husband. After one year of divorce, her husband died in a car accident. Can she claim the amount of policy from the insurance company?
Q 20.
Anju has taken a loan from Avi against the security of his factory. Can Avi take a fire insurance policy of that factory?
Q 21.
Describe various types of insurance and exercise the nature of risks protected by each type of insurance.
Q 22.
What is the difference between goods and services?
Q 23.
Write a detailed note on various facilities offered by Indian Postal Department.
Q 24.
What is the difference between life, fire and marine insurance?
