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Some Models of Insurance

The document outlines various types of insurance policies, including Compulsory Third Party, Comprehensive, Marine, Fire, Cash in Transit, and Aviation Insurance. It also discusses the roles of National Reinsurance Companies, Insurance Unions, Supervisory Authorities, Brokers, and Agencies in the insurance industry. Each section provides a brief description of the purpose and coverage of these insurance models and entities.

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mazarelrashid12
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3 views

Some Models of Insurance

The document outlines various types of insurance policies, including Compulsory Third Party, Comprehensive, Marine, Fire, Cash in Transit, and Aviation Insurance. It also discusses the roles of National Reinsurance Companies, Insurance Unions, Supervisory Authorities, Brokers, and Agencies in the insurance industry. Each section provides a brief description of the purpose and coverage of these insurance models and entities.

Uploaded by

mazarelrashid12
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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‫بسم هللا الرحمن الرحيم‬

IbnSina UN

Principal of insurance
Dr,Soaaida Mohammed ALamin

SU, AmaniNourhan Salahaldin


Ahmed Abdlltif
Some models of insuranc policies
1. :
a. Compulsory Third Party Insurance: This
policy is mandatory in many countries and
covers liability for injury or death caused by
the insured vehicle to third parties.
b. Comprehensive Policy: This policy
provides coverage for damage to the
insured vehicle, as well as liability coverage
for third-party injury or property damage.

2. Marine Insurance:
a. Inland Marine Insurance: This policy
provides coverage for goods being
transported over land, such as cargo
transported by truck or train.
b. Cargo Insurance: This policy covers
goods being transported by sea, air, or land
against loss, damage, or theft during transit.
c. Hull Insurance: This policy covers the
physical damage to ships or boats.

3. Fire Insurance: This policy provides


coverage for damage caused by fire to the
insured property, including buildings and
their contents.

4. Cash in Transit Insurance: This policy


provides coverage for the loss or damage of
cash while being transported from one
location to another.

5. Aviation Insurance: This policy provides


coverage for aircraft, including liability for
injury or damage caused by aircraft, as well
as coverage for the aircraft itself.
6. National Reinsurance Company:
National Reinsurance companies are
state-owned or nationalized
reinsurance entities that operate in a
particular country. Their primary
purpose is to provide reinsurance
coverage to primary insurance
companies within the country.

7. Insurance Union: The term


"Insurance Union" can refer to different
things in different contexts. It could
refer to an association or organization
that represents the interests of
insurance companies or professionals in
the insurance industry. It could also
refer to a group of insurance companies
that have formed a union or consortium
to collectively offer insurance products
or services.

8. Supervisory Authority for Insurance


Business: The supervisory authority for
insurance business is a regulatory body
or government agency responsible for
overseeing and regulating the insurance
industry within a specific jurisdiction.
Its primary role is to ensure that
insurance companies and
intermediaries comply with relevant
laws, regulations, and standards to
protect policyholders' interests and
maintain the stability of the insurance
market.
9. Brokers: Insurance brokers are
professionals or firms that act as
intermediaries between insurance
buyers (individuals or businesses) and
insurance companies. They help
individuals or businesses assess their
insurance needs, provide advice, and
assist in obtaining suitable insurance
coverage from various insurance
companies. Brokers typically work on
behalf of the client and receive a
commission from the insurance
company for the policies they sell.

10. Agencies: In the context of


insurance, agencies usually refer to
insurance agencies or independent
insurance agents. These are individuals
or firms that represent one or more
insurance companies and sell insurance
products on their behalf. Insurance
agencies work closely with clients to
understand their insurance needs and
recommend appropriate insurance
coverage options from the insurance
companies they represent

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