Institute Of Business Administration

Allama I.I. Kazi Campus, Jamshoro

University Of Sindh
Phone Numbers: +92-22-9213200, +92-22-9213181-90 Ext. 2009, Web Site:http//cba.usindh.edu.pk/Email:dir_iba@cba.usindh.edu.pk

Curriculum of BBA (Hons) P-I

Course Details
Course Name: Principles of Insurance
Course Code: 406
Credit Hours: 3 Credit Hours (per week)

Course Description/Objective
Principles of Insurance are aimed at building basic concepts of Insurance against financial risk as well as
non-financial uncertainties. This course will focus on Insurance as a concept, Insurance Functions,
Insurance Policies, Insurance Types and Insurance Organizations. Overall objective of the course is to
develop preliminary understanding of Insurance and its application in terms of both material-loss and life-
loss subject to environmental hazards of a business operating in particular market.

Learning Outcomes
After completion of the course students will equip better understanding of the term Insurance and its uses
in daily life. Students will be able to differentiate different types of risks and associated insurance
policies. Students will also add into their knowledge the role of insurance institutes for both Private and
Public sector organizations.

Course Contents (Plan)

Introduction to Insurance (P-I)
Week 01  What is Insurance
 Condition for Insurance
 Importance of Insurance
 Insurance Functions
 State and Insurance
 Consequences for Insurer
Introduction to Insurance (P-II)
 Insurance in Pakistan
Week 02  Nationalization
 Basics of Insurance
 Contracts and Stamp Duty
Insurance Institutions (P-I)
 Insurance Organizations
Week 03  Chartered Insurance Institute
 Insurance Market
 Types of Insurers
 Insurance Institutions (P-II)
 Brokers and Agents
Week 04  Lloyd’s Structure
 Insurance Companies
 Insurance Mergers
Insurance Types
Week 05  Life Insurance
 Fire Insurance
 Marine Insurance
 Automobile Insurance
 Accident Insurance
 Livestock Insurance
 Credit and Aviation Insurance
Week 06 Life Insurance Accounting
 State Life Insurance
 Functions of State Life
 Insurance Accounting
 Insurance Audit
State and Insurance
Week 07  Insurance Act 1952
 Nationalization Order 1972
 Acquisitions
 Corporations and Life Businesses
 Functions of Corporations
 Corporation Management
Mid Term
Week 08
Life Insurance (P-I)
 Understanding Life Insurance
Week 09  Life Societies & Features
 Scope and Types
 Assurance Variation
 Insurance Options
Life Insurance (P-II)
Week 10  Insurance Calculations
 Premiums
 Proposal Forms
 Policy Structure
 Compliance
Fire Insurance (P-I)
 Background
Week 11  Fire Policy
 Rating
 Occupant and Owner Policy
 Insurable v/s Not-insurable
 Fire Insurance (P-II)
Week 12  Contents of Fire Policy
 Fire Protections
 Fire Exceptions
 Property Relieving
 Loss Claims
Marine Insurance
Week 13  Defining Marine Insurance
 Importance in Trade
 Marine Insurance Act 1906
 Protection and Indemnity
 Marine Insurance Premium
Case Study
Week 14  Motor Insurance
 Incident/Accident Insurance
 Financial Insurance

Week 15 Project Report/Presentations

Recommended Text Book

Principles of Insurance, Javaid Amin, Allama Iqbal Open University