Bachelor of Commerce (B.Com.) Business Insurance II Syllabus - Mumbai University

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 - II

Major elective · Semester 6 · TY BCOM · 4 credits · 100 marks

Module I: Insurance Product – Life & General 15 Unit I Insurance Product – Life

Life insurance, purpose, product, procedure to obtain policy, computations of premium rate and bonus, coverage, whole life policy, endowment type, children assurance plan, health and pension plan, procedure of taking policy
Marine insurance, product, coverage, marine losses, perils.
Unit II Insurance Product – General
General insurance, product, policy, contents and coverage, fire, theft and burglary, engineering policy, procedure for taking policy
Accident insurance, nature, coverage, personal accident and sickness insurance, Motor insurance, group insurance, cattle, liability and crop insurance

Module II: Insurance Legislation –History & Act 15

Unit I Insurance Legislation –History
History of Insurance legislation of India, Life Insurance Corporation Act, 1956 (Scope and importance), General Insurance Business (Nationalization) Act, 1972 (Scope and importance),
Marine Insurance Act, 1963 (Scope and importance), Insurance Regulatory and Development Authority (IRDA) Act, 1999 Unit II Insurance Legislation – Act
Scope and importance (IRDA), Licensing of Insurance Agent – regulation – 2000, IRDA (Protection of Policyholders’ Interest) – 2002,
Consumer Protection Act – with reference to Insurance, Employees State Insurance Act (ESI), 1948 – (Scope and importance)

Module III: Claim Management & Settlement 15 Unit I Claim Management

Claim settlement procedure and documentation, Life Insurance, Cases
Fire Insurance, Motor Vehicle Accident Insurance, theft and Burglary Insurance, Cases Unit II Claim Settlement
Marine Insurance, Lok Adalat, Arbitration, Ombudsman, Re-insurance – types and methods
Cases related to claim settlement and management

Module IV: Government insurance policy and schemes & Social Responsibility of Business 15

Unit I Government insurance policy and schemes
Government insurance policy and scheme, National Agriculture Insurance Scheme,
Personal accident and social security scheme, Hut Insurance Scheme, Cases Unit II Social Responsibility of Business
Social Responsibility of Business, concept, rural and social sector insurance, argument for social responsibility, Social security programme in developed countries, emerging needs in India,
Concept of social responsibility, need of social responsibility, Social responsibility of LIC, GIC and IRDA – rural and social sector insurance

Reference Books

M. N. Mishra & S. B. Mishra - Insurance: Principles and Practice, S. Chand Publishing (A comprehensive and classic text covering life, marine, fire, accident insurance, and insurance legislation in India.)
P. K. Gupta - Insurance and Risk Management, Himalaya Publishing House (Useful for insurance products, claim procedures, reinsurance, and regulatory framework.)
G. S. Panda & P. K. Rao- Insurance and Risk Management, Tata McGraw-Hill Education (Good coverage of insurance concepts, products, and claim management.)
V. A. Avadhani - Insurance and Risk Management Himalaya Publishing House (Covers insurance legislation, IRDA, and operational aspects of insurance.)
K. C. Mishra & G. E. N. Rao - Principles and Practice of Insurance Cengage Learning, (Strong foundation text for insurance products and legal framework.)
IRDAI Publications and Annual Reports - Insurance Regulatory and Development Authority of India (IRDAI) (For updated regulations, consumer protection, and current developments.)
LIC of India & GIC Re Manuals and Publications (Useful for practical insights into life and general insurance operations and claim settlement.)

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.

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