Bachelor of Commerce (B.Com.) Business Insurance I Syllabus - Mumbai University 2026
This is the TY BCOM syllabus under NEP 2020, in force from the academic year 2026-27. The University still sets the earlier Choice Based syllabus below alongside it for ATKT candidates, so check which scheme your exam form names before you revise.
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Syllabus for Business Insurance - I
Module I: Fundamentals of Insurance & Risk Management
- Meaning, nature and importance of insurance. Principles of insurance – Utmost Good Faith, Insurable Interest, Indemnity, Subrogation, Contribution and Proximate Cause.
- Types of insurance – Life, General and Business insurance. Risk and uncertainty – Types of risks, risk management process and role of insurance.
- Practical Problems & Case Studies:
- Application of insurable interest.
- Risk identification for a manufacturing firm.
Module II: Regulatory Framework & Insurance Operations
- Insurance Act, 1938 – key provisions. IRDAI – objectives, functions, licensing, consumer protection.
- Insurance documentation – proposal form, policy document, endorsements.
- Underwriting and premium calculation basics. Claims procedure and settlement.
- Practical Problems & Case Studies:
- Case study on IRDAI consumer grievance mechanism.
- Premium calculation illustration.
Module III: Business Insurance Products
- Life insurance in business – Keyman insurance, Group insurance. General insurance – Fire, Marine, Motor, Health insurance.
- Liability insurance – Product liability, Professional indemnity. Property and credit insurance.
- Practical Problems & Case Studies:
- Fire insurance claim computation.
- Marine insurance loss calculation.
Module IV: Emerging Issues & Applications
- Digitalization and InsurTech. Fraud detection and prevention. Insurance and disaster management.
- Global insurance trends. Ethical issues and future of insurance.
- Practical Problems & Case Studies:
- Case study on digital claims processing.
- Insurance role in disaster recovery.
Reference Books
- 1 Dorfman, M. S., & Cather, D. A. (2013). Introduction to risk management and insurance (10th ed.). Pearson.
- 2 Rejda, G. E., & McNamara, M. J. (2020). Principles of risk management and insurance (14th ed.). Pearson.
- 3 Harrington, S. E., & Niehaus, G. R. (2003). Risk management and insurance (2nd ed.). McGraw-Hill/Irwin.
- 4 Dunham, H. P. (1938). The business of insurance: A textbook and reference work. McGraw-Hill.
- 5 Vaughan, E. J., & Vaughan, T. (2013). Fundamentals of risk and insurance (11th ed.). Wiley.
Reproduced from the University of Mumbai syllabus for Bachelor of Commerce (B.Com.) under NEP 2020, in force from the academic year 2026-27. Wording is as printed in that syllabus. Module numbering is as printed there too.
The complete syllabus
This subject is cut from the University circular for its year. Open a document here if you want the whole thing rather than a single subject.