B.Com. (Banking and Insurance) Principles of Insurance Syllabus - Mumbai University
This is the Fourth Year BBI Honours syllabus under NEP 2020, in force from the academic year 2026-27. The fourth year is new in 2026-27, and the University runs it as two separate courses: Honours, and Honours with Research.
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Syllabus for Principles of Insurance
Module I: Introduction to Principles of Insurance and Insurance Market
- History of Insurance in India, Insurance - Meaning, Definition, Functions, Nature and Principles of Insurance – Insurance Contract - Importance of Insurance to Society, Individuals, Business and Government.
- Features of Insurance market in India, Types of Insurance - Life Insurance & General Insurance, Insurance Customers, Insurance Terminology. Organizational structure, Functional process, Distribution Channels, Distribution channels in Insurance.
Module II: Life Insurance and General Insurance
- Life Insurance - Meaning and Features of Life Insurance Contract – Classification of policies, Life Insurance Planning, Financial Planning and Life Insurance, Life Insurance – Claims Management.
- General Insurance - Meaning and Features of General Insurance Contract - Types of General Insurance, Fire Insurance – Meaning, Nature and Use of Fire Insurance- Fire Insurance Contract, Kinds of policies – Policy conditions, Marine Insurance - Meaning and Nature of Marine Insurance, Classification of policies, Policy conditions, Personal Accident Insurance, Motor Insurance, Liability Insurance- Bancassurance.
Module III: Regulations of Insurance Business
- Development of Insurance Legislation in India and Insurance Act 1938, Insurance Regulatory and Development Authority of India (IRDAI), IRDAI and its Functions, Protection of Policyholders Interest, Dispute Resolution Mechanism, International Trends in Insurance Regulation, Code of conduct for Insurer, Basics requirements of the licensing regime for regulation of insurance Intermediaries, Grant of License.
Module IV: Ethical Issues and Rating Practices
- Insurance Intermediaries duties to policyholders, Protection of Personal Data, Prevention of Insurance Fraud
- Rating Practices, Premium payment regulations, Claim Procedure and Management, Survey and Assessment.
Reference Books
- Bedi. H.L: Theory and Practice of Banking.
- Insurance Institute of India.
- K S N Murthy & K V S Sarma: Modern Law of Insurance in India
- Dr. P. Periasamy: Principles and Practices of Insurance
- Manjula V.& Marwa Mona: Life and General Insurance
- Dr. Krishna Murari: Financial Institutions and Regulatory Framework
Reproduced from the University of Mumbai syllabus for B.Com. (Banking & Insurance) 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.