Insurance and Risk Management

Sarbesh Mishra, PhD

Sr. Associate Professor NICMAR, Hyderabad.

Dr Sarbesh Mishra

About Myself
Name Qualifications : 1. 2. 3. 4. :

Dr Sarbesh Mishra
B.Com (Hons) Post-graduate in Commerce M.Phil in Commerce Ph.D. (Commerce) Joined University of Delhi, as a Lecturer in Commerce in 2001 and continued till 2005 and then joined Army Institute of Management, NOIDA as Senior Faculty, Finance prior to current appointment at NICMAR since 2007.

Experience

Dr Sarbesh Mishra

Publications
1. Book titled Working Capital Management is in circulation since 2007 & approved text book in IMT, Ghaziabad & MDU, Rohtak Management Syllabus.

2.

Book titled Insurance & Risk Management was launched in Oct, 2013. It has been adopted by Manipal University and SMU DMS.

Both the books have been published by Vikas Publishing House, NOIDA.
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Related to Insurance (Thoughts)

Fun is like life insurance; the older you get, the more it cost. Kin Hubbard One of the major goals of health insurance reform is to bring down the cost. Valerie Jarrett The availability of private insurance provides tremendous insulation for millions of individuals. Lawrence Summers

Dr Sarbesh Mishra

Functions of Insurance
Risk Sharing and Risk Transfer:
Shifting or transferring of risk from one person to a group Sharing losses, on some equitable base, by all the group members
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Methodology
1. Risk Reduction through Pooling 2. Theory of Probability and Law of Large Numbers

Dr Sarbesh Mishra

Role of Insurance in Managing Risk Financing

Applicability of Coverage
1. 2. 3. 4. 5. 6. 7. Real and Personal Property Machinery Crime Coverage Extra Expense and Valuable Papers Workers Compensation Comprehensive General Liability Automobile Liability & Physical Damage

Dr Sarbesh Mishra

Health Insurance
Individual / Group / Deferred / Overseas Mediclaim Policy Domiciliary Hospitalization Maternity Benefits Exclusions / Pre-existing Illness Qualifying Age Limit Baby of 01 Day old to 70 Years.

Dr Sarbesh Mishra

Liability Insurance
1. Product Liability Policy Products are sold to their users/consumers, if defective, may cause death, injury, illness or property damage. Manufacturers of such product are liable to pay relief to accidental victims Coverage Manufacturers / Marketers 2. Professional Indemnity Policy Extends protection to professionals such as Doctors, Solicitors, CA, Architects. (ii) No legal liability to pay damages arising out of negligence in the performance of their professional duties. 3. Directors and Officers Liability Policy This policy is designed to provide protection to directors and officers against their personal civil liability as the Directors hold the position of trust and responsibility

Dr Sarbesh Mishra

Employers Liability Policy

Its otherwise referred as Workmens compensation

Insurance. Offers protection to Employers against their legal liability for payment of compensation in case of death or disablement of employees arising out of and in the course of employment. Table A Covers those who come within the definition of Workmen. Table B Covers those who are not Workmen

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Insurance Provision Under FIDIC

19.1 General Requirements by Contractor 19.2 Insurance by contractor during Design-Build Period 19.3 Insurances to be provided by Contractor during the operation service period.

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THANK YOU
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