B.Com. (Actuarial Studies) Insurance Business General Insurance I Syllabus - Mumbai University
This is the FY BCom Actuarial Studies syllabus under NEP 2020, in force from the academic year 2026-27. It is the only syllabus this degree has ever had: the University approved the course on 18 May 2026 and the first students were admitted the same year, so there is no earlier scheme to check yours against.
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Syllabus for Insurance Business - General Insurance - I
The University prints this paper as “Insurance Business-I (Generalinsurance)”.
Module 1: The conceptual Framework and Insurance Contract 15 hours
- Insurance - Meaning and definition,Growth and Evaluation of Insurance Industry in India, Classification of risks and Hazards, Classes of Insurance, Unique Characteristics of Insurance Business, Managing risks, Reinsurance, Utmost Good faith or Uberrima Fides, Insurable Interest, Insurer’s Insurable Interest, Indemnity, Subrogation and Contribution, Personal and Non-Personal Contracts, Distinguishing Insurance Contracts with other Contracts, Insurance Terminology - First Premium-Renewal-Mode-Limits Payment- Policies-Single Premium-Convertible-Days of Grace-Lapse-Paid up Policy-Revival- Deferment Period-Nomination-Assignments-Bonus-Arbitration
Module 2: Insurance Products and Market 15 hours
- Life insurance Products including Government Schemes, Introduction to Non-Life Insurance, Fire, Loss of Profits, Marine, Marine Cargo, Motor and Miscellaneous, Compensation under Insurance - Total Loss-Actual or Constructive Loss-Bonus- Replacement-Policy Value-Agreed Value-Full Value-First Loss-Increased Value, Life and Non-Life Insurers-Reinsurance and Corporate Agents-Brokers-Surveyors-Medical examiners-Third Party Administrators, IRDA-Insurance Councils-Ombudsmen Educational Institutes-Council-Tariff Advisory Committee, Career opportunities in Insurance Business, Ethical aspects of Insurance Business
Cut from the University of Mumbai syllabus for B.Com. (Actuarial Studies) under NEP 2020, in force from the academic year 2026-27. Wording is as printed in that syllabus, and module numbering is as printed there too. The University sets no reading list for this course.
The complete syllabus
This subject is cut from the University circular for its year. Open the document here if you want the whole thing rather than a single subject.