business studies insurance essay

There are no certainties or guarantees in life. There is no guarantee that the business will not suffer an unexpected loss or damages. So while we cannot protect our interests against all risks, we can opt for some insurance. Let us take a look at concepts of insurance and functions of an insurance company.

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Insurance is defined as a contract, which is called a policy, in which an individual or organisation receives financial protection and reimbursement of damages from the insurer or the insurance company. At a very basic level, it is some form of protection from any possible financial losses.

The basic principle of insurance is that an entity will choose to spend small periodic amounts of money against a possibility of a huge unexpected loss. Basically, all the policyholder pool their risks together. Any loss that they suffer will be paid out of their premiums which they pay.

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• Nature and Types of Services
• Banking and E-Banking
• Life Insurance, Fire Insurance and Marine Insurance
• Communication Services, Transportation and Warehousing

Functions of an Insurance Company

1] provides reliability.

The main function of insurance is that eliminates the uncertainty of an unexpected and sudden financial loss. This is one of the biggest worries of a business. Instead of this uncertainty, it provides the certainty of regular payment i.e. the premium to be paid.

2] Protection

Insurance does not reduce the risk of loss or damage that a company may suffer. But it provides a protection against such loss that a company may suffer. So at least the organisation does not suffer financial losses that debilitate their daily functioning.

3] Pooling of Risk

In insurance, all the policyholders pool their risks together. They all pay their premiums and if one of them suffers financial losses, then the payout comes from this fund. So the risk is shared between all of them.

4] Legal Requirements

In a lot of cases getting some form of insurance is actually required by the law of the land. Like for example when goods are in freight, or when you open a public space getting fire insurance may be a mandatory requirement. So an insurance company will help us fulfil these requirements.

5] Capital Formation

The pooled premiums of the policyholders help create a capital for the insurance company. This capital can then be invested in productive purposes that generate income for the company .

Principles of Insurance

As we discussed before, insurance is actually a form of contract. Hence there are certain principles that are important to ensure the validity of the contract. Both parties must abide by these principles.

1] Utmost Good Faith

A contract of insurance must be made based on utmost good faith ( a contract of uberrimate fidei). It is important that the insured disclose all relevant facts to the insurance company. Any facts that would increase his premium amount, or would cause any prudent insurer to reconsider the policy must be disclosed.

If it is later discovered that some such fact was hidden by the insured, the insurer will be within his rights to void the insurance policy.

2] Insurable Interest

This means that the insurer must have some pecuniary interest in the subject matter of the insurance. This means that the insurer need not necessarily be the owner of the insured property but he must have some vested interest in it. If the property is damaged the insurer must suffer from some financial losses.

3] Indemnity

Insurances like fire and marine insurance are contracts of indemnity. Here the insurer undertakes the responsibility of compensating the insured against any possible damage or loss that he may or may not suffer. Life insurance is not a contract of indemnity.

4] Subrogation

This principle says that once the compensation has been paid, the right of ownership of the property will shift from the insured to the insurer. So the insured will not be able to make a profit from the damaged property or sell it.

5] Contribution

This principle applies if there are more than one insurers. In such a case, the insurer can ask the other insurers to contribute their share of the compensation. If the insured claims full insurance from one insurer he losses his right to claim any amount from the other insurers.

6] Proximate Cause

This principle states that the property is insured only against the incidents that are mentioned in the policy. In case the loss is due to more than one such peril, the one that is most effective in causing the damage is the cause to be considered.

Solved Question for You

Q: Write a few lines on the Indian Insurance Sector.

Ans: India’s economy has been in a boom for the last two decades. There has been increased manufacturing and financial activities. This, in turn, has triggered a rapid growth in the insurance sector as well.

In the year 2000, the authorities allowed private companies to be a part of the insurance business . Today there are 13 companies in life insurance and 13 in general insurance. The most prominent one is of course LIC. And then there are other major players like New India, Tata AIG, Bajaj Allianz, ICICI Lombard etc.

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Essay on Insurance: Top 6 Essays | Insurance Management

After reading this essay you will learn about:- 1. Meaning of Insurance 2. Fundamental Principles or Features of an Insurance Contract 3. Types 4. Double Insurance 5. Re-Insurance 6. Advantages/Utilities/Importance.

Essay on Insurance

Essay Contents:

• Essay on the Advantages/Utilities/Importance of Insurance

Essay # 1. Meaning of Insurance:

Risk and uncertainty are incidental to life. These risks and uncertainties are increasing day by day due to increase in fastness of life. Man may meet an untimely death. He may suffer from accident, destruction of property from fire, sea, floods, earthquakes and many other causes. Whenever there is uncertainty, there is risk as well as insecurity.

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It is to provide against risk and insecurity that insurance came into being. The main principle underlying insurance is the pooling of risks. It is a co-operative device to spread the loss caused by a risk (which is covered by insurance) over a large number of persons who are also exposed to the same risk and insure themselves against that risk.

According to W.A. Dinsale, “Insurance is a device for the transfer of risks of individual entities to an insurer, who agrees, for a consideration (called the premium), to assume, to a specified extent, losses suffered by the insured.

According the Mehr and Cammack, “Insurance is a social device for reducing risk by combining a sufficient number of exposure units to make their individual losses collectively predictable. The predictable loss is then shared proportionately by all those in the combination.”

According to D.S. Hansell. “Insurance is a social device providing financial compensation for the effects of misfortune, the payments being made from the accumulated contributions of all parties participating in the scheme.”

According to Schultz and Bradwill, “Insurance in its technical sense is a social device which employs the use of pooling technique to eliminate uncertainty,”

According to Justice Tindal, “Insurance is a contact in which a sum of money is paid by the assured in consideration of insurers incurring the risk of paying a large sum upon a given contingency.”

The agency which helps in entering into this arrangement is called Insurer or insurance company. The person who gets his life/property insured is called Insured/Assured. The agreement or contract, which is put in writing, is called Policy. The thing on property insured is called the subject-matter of insurance and the interest of the assured in the subject-matter is called his insurable interest.

To conclude, a contract of insurance is a contract by which a person, in consideration of a sum of money, undertakes to make good the loss of another against a specified risk, e.g., fire, or to compensate him or his estate on the happening of a specified event, e.g.. accident or death.

Essay # 2. Fundamental Principles or Features of an Insurance Contract:

Insurance contract is based on certain fundamental principles.

These principles are:

(i) Essentials of a Valid Contract:

The contract of insurance must have all the essentials of a valid contract.

According to Indian Contract Act, 1872, a valid contract must possess the following essentials:

(t) Offer and acceptance

(ii) Capacity to contract

(iii) Free consent of parties

(iv) Lawful consideration and object

(v) Contracts not specifically declared void.

(ii) Utmost Good Faith:

The contract in insurance is uberrima fides, e.g., both the parties must disclose all material facts. Concealment of any fact will entitle the insurer to deprive the assured of benefits of the contract.

Each party mush reveal to other party all information which would influence the other’s decision to enter into the contract. Although a party must not make any false statement, he is not bound to disclose to the other party all that he knows or ought to know about the transaction.

But there are certain cases where the knowledge of facts is almost exclusively on one side. In such cases, the contract is vitiated by non-disclosure of any material fact or a misstatement. Such contracts are known as contracts of uberrima fides or contracts based on ‘utmost good faith’.

The rule of caveat empter, i.e., let the buyer beware, does not apply to the contracts of insurance.

The assured knows more about the subject-matter of the contract than the other party (the insurer). Consequently he is under a duty to disclose correctly all material facts known to him to the insurer, so that insurer may be in a position to make an accurate estimate of the risk that he is undertaking.

It is not easy to define material fact. It depends upon the circumstances of each case. A material fact is one which goes to the root of contract of insurance, and which must be stated with perfect degree of accuracy. If the utmost good faith is not observed by either party the contract may be avoided by the other.

A proposer should disclose all material facts at the time of making the proposal not only those facts which he honestly thinks to be material but every fact which a reasonable man would have thought to be material.

(iii) Insurable Interest:

The assured must have an actual interest called the insurable interest in the subject-matter of the insurance. A person is said to have an insurable interest in the subject-matter (property or life) if he is benefitted by its existence and is prejudiced by its destruction. Without insurable interest the contract of insurance is void. It is the existence of insurable interest in a insurance contract that differentiates it from a wagering contract.

A banker has an insurable interest in the property mortgaged to it against a loan. A person has insurable interest in his own life. A creditor can insure the life of his debtor. A person has insurable interest in the building he owns.

An employer can insure the lives of his employees because of his pecuniary interest in them. A businessman has insurable interest in his stock, plant and machinery, building, etc. Husband has interest in the life of his wife and wife in the life of her husband.

Is it necessary in all forms of insurance?

Insurable interest is necessary to support every insurance contract. In case of Life Insurance, insurable interest must be present at the time when the insurance is effected. It is not necessary that the assured should have insurable interest at the time of maturity also.

In case of Fire Insurance, insurable interest must be present both at the time of insurance and at the time of loss. In case of Marine Insurance, insurable interest must be present at the time of loss. It may or may not present at the time of insurance.

(iv) Indemnity:

A contract of insurance is a contract of indemnity. The principle of indemnity is applicable to all types of insurance except life, personal accident and sickness insurance. That means that the assured in the case of loss against which the policy has been made shall be fully compensated and never more than the value of the policy. The insurer agrees to make good the loss but the insured, however, is not entitled to make a profit out of the loss.

A contract of insurance does not remain a contract of indemnity if a fixed amount is to be paid by the insurer to the insured on the happening of the event insured against, whether he suffers a loss or not. A contract of life insurance is not a contract of indemnity. In life insurance, the insurer is liable to pay the sum mentioned in the policy upon the happening of the contingency (death, or expiry of a certain period).

(v) Mitigation of Loss:

The next essential principle of insurance is that in the event of some mishap to the insured property, the assured must take all necessary steps to mitigate the loss. The insurer must act in a prudent manner as if he were in-insured.

However, he should do his best: yet in case of his own death he is not required to do so. If he does not do so the insurer can avoid the payment of loss attributable to his negligence. In nutshell, he is bound to do his best under the circumstances, but he is not bound to do at the risk of his life.

(vi) Risk Must Attach:

A contract of insurance is enforceable if and only if the risk has been attached. If the risk is not run the consideration fails, and therefore the premium received by the insurer must be returned The premium is to be returned even where the risk is not run or could not be run due to the fault, will or pleasure of the assured.

A policy is not attached till the risk begins and is not attached after the risk is determined one way or the other, except in those special insurance where both the parties being ignorant of the position of the thing insured, contract to insure it lost or not lost.

(vii) Contribution:

Sometimes a property is insured with more than one company. Where there are two or more insurances on one risk, the principle of contribution applies between insurers. The objective of contribution is to distribute the actual amount of loss among different insurers who are liable for the same risk.

In case of loss, any one insurer may make the payment to the assured the full amount of loss covered by the policy. After paying this amount, he is allowed to claim a contribution from his co-insurers in proportion to the amount which each has undertaken to pay in case of loss.

The principle of contribution is applied to any insurance which is a contract to indemnity. It does not apply to life and personal accident insurance.

(viii) Subrogation:

The principle (or doctrine) of subrogation is a corollary to the principle of indemnity and applies only to fire and marine insurances. It does not apply to life and personal accident insurances. If the insured party gets a compensation for the loss suffered by him, he cannot claim the same amount of loss from any other party.

Subrogation is a substitution of one person in place of another in relation to the claim, its rights, remedies or securities. Whenever, an assured has received full indemnity in respect of his loss, the insurer is subrogated to only the rights and remedies available to the assured in respect of the thing to which the contract of insurance relates. The insurer’s right to subrogation arises only when he pays the loss for which he is liable under the policy.

(ix) Causa Proxima or Proximate Cause:

The insurer can recover the loss only if it is proximately caused by any of the perils insured against. This is known as the principle of Causa Proxima. “Every loss that clearly and proximately results whether directly or indirectly from the event insured against is within the policy.”

The rule of proximate cause runs as Causa Proxima Non-Remote Spectator, i.e., the proximate and not the remote cause is to be looked to, and if the proximate cause of the loss is a peril insured against, the assured can recover the amount of the loss from the insurer.

The question, which is the causa proxima of a loss, can only arise where there are a succession of causes. When a result has been brought about by two or more causes, you must, in insurance law, look to the nearest cause, although the result would, no doubt, not have happened without the remote cause.

Proximate does not mean the nearest in time. The cause which is truly proximate is that which is proximate in efficiency. If the loss is the result of such an efficient cause, it will be regarded as having been caused by the proximate cause.

Section 55 of the Marine Insurance Act, 1963 lays down that unless the policy otherwise provides, the insurer is liable for any loss proximately caused by a peril insured against.

Essay # 3. Types of Insurance:

There are a number of types of insurance, but the following types stand out as being of special importance:

(i) Life insurance

(ii) Fire insurance

(iii) Marine insurance

(i) Life Insurance:

In life insurance contract the amount of the policy is definitely paid, it is a question of time only. The amount becomes payable on the death of the assured or on the expiry of a certain fixed period, whichever is earlier. Life insurance contract is not a contract of indemnity.

Life insurance is a contract by which the insurer, in consideration of a premium, undertakes to pay a certain sum of money on the death of a person whose life is insured, or on the expiry of a certain period, whichever is earlier. Life insurance contract is not a contract of indemnity. The loss of life cannot be compensated and only a specified sum of money is paid.

Fundamental Principles/Features/Essentials of Life Insurance Contract :

Life insurance contract is based on certain fundamental principles.

1. Essentials of a Valid Contract:

The life insurance contract must have all the essentials of a valid contract.

According to Indian Contract Act, 1872, a valid contract must contain the following essentials:

(i) Offer and acceptance.

(ii) Capacity to contract.

(iii) Free consent of parties.

(iv) Lawful consideration of object.

2. Utmost Good Faith:

The contract of life insurance is a contract of utmost good faith. The insured should be honest and truthful in giving information to the insurance company. He knows more about the subject-matter of the contract than the other party (the insurer).

Consequently, he is under a duty to disclose accurately all material facts known to him to the insurer. Concealment of any fact will entitle the insurer to deprive the assured of the benefit of the contract.

3. Insurable Interest:

In life insurance, the insured must have insurable interest in the life assured. Without insurable interest the contract of insurance is void. In case of life insurance, insurable interest must be present at the time when the insurance is Affected. It is not necessary that the assured should have insurable interest at the time of maturity also.

In the following three cases insurable interest is presumed and no proof is necessary, viz.:

(i) Own life

(ii) Husband in the life of wife, and

(iii) Wife in the life of husband.

The following persons have been held to have insurable interest:

(i) A person is presumed to have an interest in his own life and every part of it.

(ii) A creditor has an insurable interest in the life of his debtor,

(iii) A proprietor of a drama company has an insurable interest in the lives of actresses.

(iv) A servant engaged for a term of years has insurable interest in the life of his employer.

4. Contract of Indemnity:

A contract of life insurance is not a contract of indemnity. The loss of life cannot be compensated and only a specified sum of money is paid. That is why the amount payable in life insurance on the happening of the even is fixed in advance. Once the ‘sum of money’ payable is fixed, it is constant invariable. A contract of insurance, therefore, is not a contract of indemnity.

The loss resulting from the death of life assured cannot be estimated in terms of money and only a fixed amount is paid.

How to Effect Life Insurance (I.E., Procedure)?

A number of steps are taken to effect life insurance policy.

These steps are:

a. Proposal:

Before taking a life insurance policy, it is important to take proposal for which is available free from the office of Life Insurance Corporation. Agents also supply this form. The form contains a number of questions about the health of the person, family background, and the mode of paying premium.

As we know that the contract of insurance is based on utmost good faith. So the proposer must answer all the questions correctly. He should not conceal any factual information. Concealment of any fact will entitle the insurer to deprive the assured of the benefits of the contract.

b. Medical Examination:

After the proposal form has been submitted, a medical examination of the person to be insured is arranged. Such examination can be conducted only by a doctor approved by the insurance company. The medical report of the applicant is directly forwarded by the doctor to the office of the company.

c. Acceptance of Proposal:

The proposal form is sent to the company along with medical report and the comments of the insurance agents. The proposal form is scrutinised by the company and if the company is satisfied, the proposal is accepted.

d. Proof of Age:

The applicant has to furnish satisfactory proof of his age to the insurance company.

The proof of the age can be furnished through any one of the following:

(i) A certificate from the Municipal Birth Register

(ii) A certificate of High School

(iii) The horoscope of the assured

(iv) Service Book

(v) Certificate relating to the Baptism ceremony among Christians.

e. Premium:

When the proposal is accepted, it is intimated to the applicant and he is asked to make the payment of premium. On the payment of premium the policy comes into operation and the risk is covered then onwards.

f. Insurance Policy:

After receiving the installment of first premium, the insurance company prepares the insurance policy. The policy is in the form of an agreement between the insurance company and the assured to pay a certain sum of money to the assured on the happening of the event mentioned in the policy.

It bears the signatures of the officials of the insurance company. When the policy is ready, it is sent to the assured by registered post. It contains the assureds’ name, address, occupation, age, amount of insurance, number of installments, amount and date of premium, etc.

Different Kinds of Life Insurance Policies:

The life insurance policies are of the following types:

1. Whole Life Policy:

Under this policy, premium is payable throughout the life time of the life assured. The sum assured becomes payable only on the death of the insured. These policies are taken out to make provision for the dependants. This policy is also called ‘Ordinary Life Policy’.

2. Endowment Policy:

This is most popular form of life insurance. This policy is taken up for a specific period known as ‘endowment period’. The sum assured is payable either on the death of life assured or on the expiry of a fixed period, whichever is earlier. If the person does not die upto the maturity of the policy, he shall get back the insured amount after the maturity of the policy.

3. Joint Life Policy:

This policy implies to husband and wife or the partners of a business. They can have a joint policy. It is like Endowment Policy. The sum assured under a Joint Life Policy (on two or more lives) is payable at the end of the endowment term or on the first death of any one the lives assured, whichever is earlier. Such policies are usually taken by partnership firms to provide for the payment of the capital of the deceased partner.

4. With or Without Profit Policy:

Life insurance policy may be ‘with profit’ or ‘without profit’. The assured is entitled to the share in the profits of the insurer if the policy is a ‘with profit’ policy. Contrary to this, in case of ‘without profit’ policies, such a question does not arise.

5. Annuity Policy:

Under annuity policy, the amount is payable by the insurer not in lump sum but by monthly, quarterly, half-yearly or annual installments which are paid either until death or for a specified number of years. This policy is very useful to those persons who desire to provide a regular income for themselves and their dependants after the expiry of a specified period.

6. Sinking Fund Policy:

These policies are mostly taken by firms and companies to accumulate funds to pay off a liability or for making a provision for the replacement of an asset after a period of time.

7. Convertible Whole Life Policy:

This policy is issued as a whole life policy with a provision to convert it into an Endowment Policy after the expiry of a specified period (say 5 years). If this option is not exercised, the policy continues as a whole life policy with premiums ceasing at a certain age.

8. Group Insurance Policy:

This policy may be taken out for the protection of lives of all employees in a business concern. One policy is issued to the employer with individual certificates indicating the amount of insurance protection of each employee. Dependants of the employees are entitled to the benefits of these insurances.

(ii) Fire Insurance:

Fire insurance covers losses caused by fire. A fire insurance is an agreement between the two parties, i.e., insurer and insured, whereby the insurer undertakes to indemnify the loss suffered by the insured in consideration for his (insured) paying of certain sum called premium. Fire Insurance is a contract of indemnity. This contract does not help in controlling or preventing fire but it is a promise to compensate the loss.

A contract of fire insurance is a contract whereby the insurer, in consideration of the premium paid, undertakes to make good any loss or damage caused by fire during a specified period. Normally, the fire insurance policy is for a period of one year after which it is to be renewed from time to time.

A claim for loss by fire must satisfy the following two conditions:

(i) There must be actual loss; and

(ii) Fire must be accidental and non-intentional.

The risk covered by a fire insurance contract is the loss resulting from fire or some cause which is the proximate cause of the loss. If damage is caused by over­heating without ignition, it will not be regarded as a fire loss within the meaning of fire insurance contract and the loss will not be recoverable from the insurer.

Fundamental Principles/Essentials/Features/Characteristics of Fire Insurance Contract:

Fire insurance contract is based on certain fundamental principles.

a. Insurable Interest:  

In fire insurance, the assured must have insurable interest in the subject-matter of the insurance. Without insurable interest the contract of insurance is void. In case of fire insurance, insurable interest must be present both at the time of insurance and at the time of loss. In case of goods, insurable interest arises on account of (i) ownership, (ii) possession, and (iii) contract.

The following persons have insurable interest in the subject-matter of insurance in case of a fire policy:

(i) A person has insurable interest in the property he owns.

(ii) A businessman has insurable interest in his stock, plant and machinery and building.

(iii) Agent has an insurable interest in the property of his principal.

(iv) Partner has insurable interest in the property of partnership firm.

(v) Mortgagee has insurable interest in the property which is mortgaged.

b. Utmost Good Faith:

The contract of fire insurance is a contract of utmost good faith. The insured should be truthful and honest in giving information to the insurance company. Insured knows more about the subject-matter of the insurance.

He is under a duty to disclose accurately all factual information known to him. The insurance should also disclose the facts of the policy to the proposer. So utmost good faith on the part of both the parties is a must.

c. Indemnity:

The contract of fire insurance is a contract of indemnity. The assured can, in the event of loss, recover the actual amount of loss from the insurer. This is subject to the maximum amount for which the subject-matter is insured. The value of the policy undertaken is fixed at the time of contract. The actual amount of loss suffered is compensated and the value of policy is only the maximum limit.

If a person has insured his house for Rs. 40,000 the insurer is not necessarily liable to pay that amount, although the house may have been totally destroyed by fire; but he will pay the actual loss within the maximum limit of Rs. 40,000.

Kinds of Fire Insurance Policies:

The fire insurance policies are of the following kinds:

i. Valued Policy:

It is a policy in which the amount payable in case of loss is fixed at the time when the policy is taken. In the event of loss, the fixed amount is payable irrespective of the actual amount of loss. Valued policy is not a contract of indemnity. It can be legally challenged.

ii. Specific Policy:

The specific policy provides for the payment of a specific sum in respect of loss to the property and does not penalise under-insurance. This policy is also known as ‘Average Policy’ because the insurer usually inserts the average clause in the policy.

iii. Floating Policy:

The floating policy covers several lots of goods lying at different places under one insurance cover. It is always subject to average clause.

iv. Comprehensive Policy:

It covers the risks of the fire arising out of any cause that is civil, communication, riots, thefts, labour disturbances and strikes, etc.

v. Consequential Loss Policy:

In certain cases fire can’ cause the loss of business of the insured. Such persons to cover the risk of business due to fire, undertake the consequential loss policy.

vi. Re-installment or Replacement Policy:

In such a policy, the insurer has the right to reinstate or replace the property destroyed instead of paying cash. The modes of discharge by the insurer are alternative. If the insurer selects one, he cannot afterwards change to the other. If the insurer offers to pay, he cannot afterwards claim to re-instate and vice versa.

vii. Sprinkler Leakage Policy:

This policy covers the loss arising out of water leakage from sprinkles which are set up to extinguish fire.

viii. Average Policy:

In this policy, the average clause is inserted which means the insured will have to bear proportionate loss with the insurer in case where policy is taken for a certain amount greater than the value of the property.

The formula for calculating average amount of claim is given below:

Amount of Claim or Average Loss = Insured Amount x Actual Loss/Actual Value of Property

ix. A Blanket Policy:

It is issued to cover all the fixed and current assets of an enterprise by one insurance.

x. Declaration Policy:

Under this policy, trader takes out a policy for the maximum value of stock which he may expect to hold during the year.

(iii) Marine Insurance:

It is one of the oldest forms of insurance. It covers all marine losses, that is to say, the losses incidental to marine adventure. Marine insurance may be called a contract whereby the insurer undertakes to indemnify the insured in a manner and to the extent thereby agreed upon against marine losses.

A contract of marine insurance is an agreement whereby the insurer undertakes to indemnify the insured in the manner and to the extent thereby agreed, against marine losses. Marine insurance is an arrangement by which the insurer undertakes to compensate the owner of a ship or cargo for complete or partial loss at sea.

The contract of marine insurance is a contract of indemnity. The assured can. on the happening of the event, recover the actual amount of loss, subject to the maximum amount for which the subject-matter has been insured.

Subject-Matter of Marine Insurance:

The following three things are covered in the subject-matter of marine insurance:

1. Cargo Insurance:

The goods to be sent through ship is called ‘Cargo’. For the safety of goods, insurance policy is taken. The goods are generally insured according to their value but some percentage of profit can also be included in the value. At the happening of the event insurance company is liable to pay both value of the goods plus profit percentage. The rate of premium depends upon the nature of goods, packing, etc.

2. Hull Insurance:

When the ship is insured against any type of danger, it is called ‘Hull Insurance’. The ship may be insured for a particular period or for a particular trip.

3. Freight Insurance:

The freight may be paid in advance or on the arrival of goods. The shipping company will not be entitled to get freight, if the goods are lost in transit. The shipping company may insure the freight to be received which is called ‘Freight Insurance’.

Marine Insurance Contract :

Marine insurance is an agreement by which the insurer undertakes to compensate the owner of a ship or cargo for complete or partial loss at sea.

In other words, under marine insurance, the insurer undertakes to indemnify the insured in the manner and to the extent thereby agreed against marine losses.

Among the subject-matter of marine insurance are included:

(ii) Cargo, and

(iii) Freight.

Marine Insurance Contract is a Contract of Indemnity :

The contract of marine insurance is a contract of indemnity. The assured can, in the event of loss recover the actual amount of loss from the insurer. Under no circumstances, the insured is allowed to make profit out of the marine insurance contract.

However, it becomes difficult to determine indemnity when the loss occurs. That is why, most insurance policies provide a commercial indemnity rather than a strict legal indemnity. They promise to indemnify ‘in the manner and to the extent agreed’.

In case of ‘Hull Policy’, the amount insured is fixed at a level rather above the current market value and in case of ‘Cargo Policy’, the amount insured also includes an amount for certain charges and profit.

Marine Insurance Contract is a Contract of Good Faith :

The contract of marine insurance is a contract of uberrima fides, i.e., utmost good faith. Both the insured and insurer must disclose everything which is in their knowledge and can affect the insurance contract. The insured should be truthful and honest in giving information to the insurance company.

He is under a duty to disclose accurately all factual information known to him. The insurer should also disclose the facts of the policy to the proposer. If utmost good faith is not observed by either party, the contract may be avoided by the other party. So utmost good faith on the part of both the parties is a must.

Kinds of Marine Insurance Policies:

The marine insurance policies are of the following kinds:

1. Valued Policy:

The valued policy contains the insured value of goods which is made up of invoice price, charges like freight, shipping and insurance and 10 per cent margin to cover profits and other incidental expenses. That is, it is the C.I.F. price (Cost, Insurance and Freight Price) plus 10 per cent profit.

2. Open or Unvalued Policy:

In this policy the value of the goods insured is not mentioned and is to be calculated when the actual loss arises. Unvalued policies’ are rarely issued.

3. Floating Policy:

This policy is popular with those merchants who make regular and frequent shipment of goods through an established route. Instead of taking many individual policies, one running policy is taken and the necessary particulars relating to the voyage are given by subsequent declaration at the time of each separate shipment.

4. Voyage Policy:

In such a policy the risk is covered for voyage of the ship or a specified route. Each voyage is made the basis of marine insurance for covering the related risks from the port of departure to the port of destination. Generally, the cargo owner takes the Voyage Policy for each separate shipment of goods.

5. Time Policy:

These policies are taken to cover all marine risks for a specified period, usually on the yearly basis, Cargo-owners may also take up time policies covering all shipments during a fixed period.

6. Mixed Policy:

These policies are issued by combining both the time and voyage features under one coverage. In this policy, the coverage is allowed for a particular time and for a particular voyage or a definite route.

Differences between Fire Insurance and Marine Insurance:

Essay # 4. Double Insurance :

When the same subject-matter is insured with two or more insurers and the total sum insured exceeds the value of the subject-matter, the assured is said to be over-insured by double insurance. As stated in Section 34 of the Marine Insurance Act, 1963, over-insurance and double insurance are valid unless the policy otherwise provides.

For instance, if Mr. X insures his factory worth Rs. 2 lakh with three insurers as—with A for Rs.90,000, with B for Rs. 80,000 and with C for Rs.70,000 there is a double insurance because the aggregate of all the policies exceeds the total value of Mr. X’s factory. If Mr. X insurers with A for Rs.80,000, with B for Rs. 70,000 and with C for Rs. 50,000 there is no double insurance.

A man may insure with as many insurers as he pleases. In case of loss, he may claim payment from the insurers in such order as he may think fit, but he will not get more than his actual loss, because a contract of insurance is a contract of indemnity. The insurers as between themselves are liable to contribute to the loss in proportion to the amount for which each one is liable.

If an insurer pays more than this proportion of the loss, he is entitled to recover the excess from his co- insurers. In India, Life Insurance Corporation of India being the only insurer of life there is no question of double insurance of life.

Essay # 5. Re-Insurance:

Every insurer has a limit to the risk that he can undertake. If at any time a profitable venture comes his way, he may accept a risk beyond his capacity, he may re-insure the same risk either wholly or partially with other insurers. This is known as re-insurance.

The re-insurer is not liable to the assured. This is because there is no private of contract between them. The re-insurance is subject to the clauses and conditions in the original policy, and is also entitled to any benefits which the Original policy is entitled to. The policy or re-insurance is co-extensive with the original policy.

If the original policy for any reason comes to end or is avoided, the policy of re­insurance also comes to an end. On payment of loss under the policy of re-insurance, the re-insurers are subrogated to all the rights of the original insurer including the rights of the assured to which the original insurer is subrogated.

Re-insurance can be resorted to in all kinds of insurance because the insurer has one insurable interest in the subject-matter insured to the extent of the amount insured by him.

Essay # 6. Advantages/Utilities/Importance of Insurance:

Immense are the benefits of insurance to the modern business. The goods may destroy due to fire beyond the control of man. The goods also destroy in transit. The workers are sometimes exposed to various risks which can cause death or permanent disability of some workers. Insurance has been helpful in solving these problems of business and private life.

Following are the advantages of insurance:

1. There is always a fear of sudden loss. Insurance provides security against such losses. Insurance gives security to both individuals and businessmen. Nowadays insurance covers various social welfare schemes also. There are schemes providing for sickness. Unemployment, health accident and old age insurances. These schemes are beneficial to poor people and also help in establishing social justice.

2. The fundamental principle of insurance is to spread risk among a large number of people. A large number of people get insurance policies and make the payment of premium to the insurer. Whenever a loss occurs, it is compensated out of funds of the insurer. The loss is spread among a large number of policyholders.

3. Insurance not only provides protection against risks but it is also a good form of investment. The insurance develops a habit of saving money by paying premium. In case of fixed time policies, the insured gets a lump-sum amount after the maturity of the policy.

4. Insurance helps in capital formation and economic development of the nation. Large funds are collected by way of premiums. These funds can be gainfully employed in industrial development of the country. The employment opportunities also increase by large investments made by insurance companies. So insurance has become an important source of capital formation.

5. These days large variety of policies have been designed for different purposes. Persons, by taking different types of life insurance policies, may provide against every type of his social and business obligation, i.e., for the education or marriage of the children, etc.

6. Insurance has helped the development of international trade on a large scale. Marine insurance provides protection against all types of sea-risks.

Related Articles:

• Notes on Over and Under Insurance
• Notes on Reinsurance: Meaning and Types
• Notes on Insurance: Meaning, Need and Functions
• Risk in Insurance: Meaning, Types and Its Transfer

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235 Insurance Essay Topic Ideas & Examples

🏆 best insurance topic ideas & essay examples, 👍 good essay topics on insurance, 📌 most interesting insurance topics to write about, ⭐ simple & easy insurance essay titles, 💡 interesting topics to write about insurance, ❓ research questions about insurance.

• Social Insurance Programs and Their Influence on Society Socioeconomic and political forces can also affect social insurance programs as political and economic determine the longevity of social security programs.
• Insurance for Camels (Alba’Aeer) A marketing manager should focus on the current and the future situation of the market of the Alba’aeer and not historical to ensure that the right price is set for the product.
• The Concept of Taxation and National Insurance In general, it can be said that taxable income is the portion of an individual’s income that is the subject of taxation according to the laws that determine what is income and the taxation rate […]
• Corporate Demand for Insurance on Risks In addition, empirical studies indicate that the capability of firms to self-insure decreases the demand for corporate insurance coverage for other policies apart from the property exposure.
• On the Success of Tawuniya Insurance Company It has managed to set new standards in the market of insurance, regularly introducing new products in the market that are responsive to the needs of the consumer.
• Risk Management and Commercial Property Insurance In the quest to understand risk management and commercial property insurance, one should understand the risks in society, the relationship between risk and insurance, risk management tools, and the legal principles of risk and insurance […]
• Company Analysis: Aviva Life Insurance Company Directors and management of a company are interested in its efficiency to generate profits, the company’s viability from the investor’s point of view, the company’s ability to generate sufficient returns to investors and gearing ratio […]
• Insurance Frauds and How They Can Be Managed Insurance refers to the services offered by companies that are willing and able to undertake risk prevention and compensation services to individuals and property.
• The Children’s Health Insurance Program in the US The Children’s Health Insurance Program is one of the current and robust healthcare policies targeting children in the United States. The main goal of the Children’s Health Insurance Program is to offer medical insurance coverage […]
• The Importance of HRM Within the Insurance Industry First, the company undertakes a rigorous procedure to ensure that the jobs that have been designed specifically meet the needs and requirements of the firm and its clientele and most importantly, the job description attracts […]
• Macro-Environmental Analysis: Health Insurance for Children Additional sub-questions to be evaluated will be: Will the free-standing children’s hospitals go the way of rural hospitals and become obsolete?
• Ethical Issue Facing Health Care: Healthcare Insurance Issues These problems can range from whether or not the person has healthcare insurance to the doubt that whether or not the insurance providers are going to pay for the medical treatments.
• Health Insurance in the UAE In Dubai and Abu Dhabi, the policy started in 2014 and it is expected that the majority of people living in the UAE will have obtained the health insurance by 2016.
• Life Insurance: The Key Points The ultimate aim of Insurance is without a doubt to minimize the risks involved in various aspects of life and in addition to this, to cover and compensate the owner if any loss is suffered […]
• Historical Development of Insurance This is the paper that will be briefly discussing the history of insurance along with the needs of insurance that has been realized in the past.
• Long-Term Care Insurance for Different Age Categories A look at the escalation in premium suggests that purchase of LTC while a person is younger and can afford continuity in premium payments is prudent.
• Insurance Companies Using Artificial Intelligence In these situations, the decisions AI would make would not contribute to improving the situation for these people and would not better the society as a whole.
• Progressive Insurance’s Diversity, Equity and Inclusion It can be used to assess the effectiveness of diversity recruiting and retention efforts, measure the value of diversity training, and survey workers about the success of diversity initiatives, such as supplier programs, employee resource […]
• The Replacement for the ACA Healthcare Insurance Policy For example, the AHCA policy allows a waiver of the ACA’s healthcare provision for societal rating and enables the federal government to charge patients more capital regarding the payment of premiums.
• The Health Insurance Portability Policy Analysis These changes demonstrate that policymakers draw sufficient attention to ensure that the HIPAA policy addresses current issues and keeps abreast of changing technologies that are actively applied in the medical sphere.
• Aspects of Insurance Financial Planning The basic principle of investment is that an increase in the risk of an investment increases the potential for high returns.
• How the Insurance and Drug Industries Affected the Universal Healthcare Universal healthcare in the United States guarantees that all citizens have access to the medical care they need, regardless of their capacity to pay.
• Australia Comprehensive Car Insurance Industry Thus, the sector is characterized by the dominance of the four biggest insurers cooperating with the highest number of customers and possessing the biggest market shares. Altogether, it is possible to conclude that the car […]
• Comparing Insurance in the UK and Germany Insurance within the framework of the first category is aimed at maintaining the well-being of citizens and, in the second – reducing financial losses in the event of risks to property.
• Art and Music Therapy Coverage by Health Insurance However, I do believe that creative sessions should be available for all patients, and I am going to prove to you that music and art are highly beneficial for human health.
• Privacy Issues of the Health Insurance Act The rule requires health entities to notify their patients when their health data is impermissibly used or disclosed in a manner that compromises the security and privacy of the PHI.
• Insurance in Europe Profitability and the Macroeconomic Environment The assignment analyses the cost structure of the industry, the economic landscape in Europe, and how it relates to the insurance sector, changing consumer preference, and the impact of Covid-19 on the industry.
• Struggles of Democracy: Social Insurance Programs There are always segments of people in the society who struggle more than the general population, and by taking measures, the government increases the economic growth and general well-being.
• The Future of Retirement and Health Insurance There are many risks related to them due to a number of factors: stock market instability, possible changes to the funding of those programs and the threat of the abolishment of Medicare.
• Should Health Insurance Be Mandatory for All American Citizens? With state-initiated changes, there is a chance for healthcare insurance to become obligatory for every resident inhabiting the United States improving their well-being, treatment outcomes, and quality of life.
• Healthcare Insurance and Job Search The company choices rangers from the people covered by the insurance, hospitals that the insurance is accepted, the amount the insurance can raise the amount deducted from the salary for the cover.
• Health Insurance Portability and Accountability Act Marketing Process: Advertising Advertising is regarded as a vital type of information for medical service competitiveness due to the competitive nature of medicine and the firm establishment of practically all business sectors in the United States, presently deemed […]
• The Life Insurance Industry: Key Aspects Nevertheless, there is a problem of understanding the need and functions of life insurance among the population, which becomes an obstacle to the registration of such services.
• Content Analysis of Cyber Insurance Policies Overall, the information that the course has provided has allowed me to understand and embrace the framework for addressing the cases of personal data breach.
• Consideration of Insurance From an Ethical Point of View The payment by the insurer of the insurance indemnity to the policyholder is the responsibility of the insurer. Setting a payment limit is a solution to the problem of losses for an insurance company in […]
• Outback Insurance Company vs. Dexter’s Facility In case of violations of the rules of operation, use of the vehicle, and its management, the detention of the vehicle is applied.
• Features of the Entry of a Foreign Insurance Company to the UAE Market The modern United Arab Emirates is striving to diversify the economy and minimize the influence of an obscure sector on the development of the country. CCL regulates the activities of agents for foreign companies in […]
• Insurance Inequality in New Zealand This applies both to the employer’s territory and outside it, either during the journey to the place of work or returning from the place of work.
• UHC: Managing HACs and HAIs in the Context of Insurance Programs On the one hand, if the number of HACs continues to trend upward, this will lead to the establishment of larger sizes and impose more stringent requirements on the operation of clinical organizations.
• TriTerm Health Insurance Program in West Virginia In addition, one of the last steps is the need for feedback to adjust the plan and make timely changes. Thus, this is what creates some disconnect between the framework and the TriTerm health plan […]
• Health Insurance Portability and Accountability Act: Privacy and Security Rules Violation Most cases present with the use of malicious malware to access protected data without the consent of the insurers and inappropriate use of that information.
• Medicaid, American Governmental Health Insurance Program The Federal government covers the main part of the insurance, and the other part is paid from the state’s budget. The other factors that influence the individual’s permission to use it are the cost of […]
• Case Study: Happy Acres and Insurance Being on the second floor of the facility, she fell down the stairs and broke her hip, and got a concussion. The nursing home had failed to implement the relevant measures to maximize the safety […]
• Usage-Based Insurance Company Project In order to explain the opportunity, I would like to share with you the state of the market, potential competitors, and the description of the target customer base.
• Cost Sharing Under State Children’s Health Insurance Program Because of the implementation of cost sharing, the yearly allowances for the families eligible for SCHIP have been significantly reduced, leading to the impossibility of dental care for the children.
• Corporate Finance Law in Saudi Arabian Insurance Institutions This study will stand on available research to examine the fundamental growth drivers and estimate the prospects that Insurance institutions in Saudi Arabia have under the corporate finance law in terms of the situation of […]
• The Health Insurance Portability and Accountability Act and the Medical Billing Process As of now, the disclosure and use of health information is safeguarded by a collage of state legislations that leave gaps in the protection of patients’ health records that are private and confidential.
• Malpractice Lawsuits: Professional Liability Insurance The interests of the healthcare professional are secondary to those of the employer in case of a lawsuit. One disadvantage of having professional liability insurance is that its premiums might be expensive to some healthcare […]
• Whole Life Insurances Case Study The type of health policy they use is named the Whole Life Insurance, which presupposes insured person’s coverage for the duration of their lives as long as they pay the premium on time.
• Professional Liability Insurance As a result of the discussion, nurses received new information about the professional liability policy; one of the nurses decided to obtain the individual plan.
• Health & Safety & Insurance: Risk Management There are chances that the regular or single insurance program or policy will not be able to cover all the possible exposures.
• Nursing: Malpractice Insurance First of all, it is hard to estimate the exact amount of insurance that I may require since the amounts of money paid to different patients may vary widely. Therefore, I should clarify whether I […]
• Children’s Health Insurance Program This presentation discusses the role of the Children’s Health Insurance Program, a component of U.S. health policy regulating different mechanisms of medical services for children.
• 2005 Hurricanes: Economic Risks and Insurance The first is trade in risk and the second is diversification. When an insurance company is able to take advantage of the predictability that comes from aggregating a large number of independent events, it is […]
• Landlord and Tenant, Insurance and Estates It is an owner of the property who yields the right to use the property for a particular point in time in exchange for the reception of the rental fee.
• National Disability Insurance Scheme Implementation This paper explores the economic, political, sociological, epidemiological public health factors affecting the implementation of the NDIS, and their effect on the health policy in response to the growing needs of the community.
• J.C. Durick Insurance v. Peter Andrus Law Case The dispute was a result of changes made to the insurance cover policy, by the plaintiff without the consent of the defendant.
• Australian Business Law: Insurance Contracts Act Insurance basics state that the insurer covers the insured and in the event of any circumstances unknown to the insured, the insurer is supposed to pay relief to the insured.
• Manifestations of Gender Discrimination in Insurance In the past, insurance companies have engaged in gender discrimination in the classification, acceptance and rating of risks. This paper provides an in-depth analysis of the concept of gender discrimination and insurance in the world.
• The Selection Process for the Type of Health Insurance for Staff in a Medium-Sized Company The cost of health insurance would also be a useful piece of information for determining the right health insurance policy to take.
• Bank (HSBC) and Life Insurance Company (Protective) The report also investigates the profitability of the two companies, the metrics used to measure profitability, variation in the last five years and the reasons for these variations.
• Employment Law in Australian Insurance Sector As a matter of fact, there was no evidence to prove that the inclusion of the implied term in the contract was a professional custom in the insurance sector.
• A Change in the Medical Insurance Plan It is not a secret that health insurance is one of the most sensitive topics in the workplace, as employees are insured with the help of employer-sponsored medical insurance every year.
• Measles and Health Insurance in Illinois It is also shown that Illinois had the 23rd position among the states of the U.S.according to the percentage of the population not covered by health insurance in 2014, beginning with the states that had […]
• The United Health Care Insurance Program In most cases, the insurer is the insurance company that provides different insurance packages to individuals in an exchange for payment of a small fee that is referred to as a premium.
• Health Insurance and the Affordable Care Act As soon as the specifics of the staff’s role in the organization and the threats that they are exposed to are taken into account, the implementation of the PPO strategy should help improve the quality […]
• Zurich Insurance Company’s Risk Management Principles A look at the structure of the insurance industry of Bahrain reveals that it is made up of two types of firms, the Takaful institutions and the conventional insurance companies. There is a couple of […]
• Healthcare Insurance and Quality Improvement The current paper discusses the impact of technological innovation, pay-for-performance, and evidence-based medicine to improve care quality and reduce costs. Pay-for-performance initiatives such as Medicaid and Medicare encourage the identification of programs that are most […]
• Health Insurance and the Labor Market To understand the implications of the adverse selection, it is important to focus on the aspects of the issue. While changing the distribution of the number of labor hours among employees and the size of […]
• Financing Healthcare and Public Health Insurance The alternative sources of funding are critical for the sustainable functioning of the healthcare system. These regulations can be critical for minimizing the cost of healthcare.
• Hospitality Law: Dram Shop Insurance It should be mentioned that the employees of restaurants and hotels can also sustain their injuries in the workplace, even if this risk is lower in comparison with other industries.
• Insurance Companies’ Profitability in Saudi Arabia The insurance companies are required to raise a minimum capital of SAR100 million in order to be licensed to operate in the industry.
• Car Insurance in Saudi Arabia vs. USA The main objective of car insurance is to protect the car owner and the family from financial losses in the event of an accident or any other eventuality.
• The Principles of Insurance Before agreeing with the insurer, the insurance company often evaluates the risk factors of the insurer and the probability of occurrence of such risks.
• Insurance Sector in Arabic Gulf Region The growth in the insurance sector in the Gulf region matches with the growth of the economy, population growth, improved regulatory framework and increased responsiveness of the products offered by the industry in these regions.
• Commercial Law: Insurance Contracts Act ‘An insured’s duty of disclosure under the Common Law and the Insurance Contracts Act 1984’ Under section twenty one of the 1984 Insurance Contacts Act, all customers are required to make a disclosure to the […]
• Takaful Insurance Company of South Africa It points out the aims of and objective of conventional and takaful insurance. This therefore transits the ownership of the insurance resources or money and processes to the policy owner.
• Saudi Arabia Insurance Companies and Stocks The insurance sector is one of the highest-ranking areas of investment in the Saudi Arabia Stock Exchange. However, compared to other emerging markets, this does not much most well-performing markets probably because of the policies […]
• Health Insurance in the USA: A Basic Necessity for the Population In my view, a good plan to start the solution chain for this problem would be the proper reallocation of federal funds in favor of healthcare research and insurance coverage.
• Insurance Policies and Covers in the Construction Industry This dissertation is aimed at exploring the insurance responses shown by construction firms in the industry in their attempt to reduce their exposure to inherent risks in the industry Insurance is a term that refers […]
• Implementing the Health Insurance Portability and Accountability Act of 1996 However, efficient recording and transmittal of essentially private information over the Internet and even proprietary networks posed a threat to the individual right to privacy of health and treatment information.
• Long-Term Care Insurance Sources The reason is the credibility of the brand; it is one of my most well-known service providers and its customers have generally been happy with them.
• “China Life Plots Overseas Insurance Buys” by Dyer & Waldmeir With the current economic down surge, most companies are not able to make investment decisions for fear of uncertainties that are likely to befall them. This is to take advantage of the untapped opportunities and […]
• Process of Professional Integration in Hospitals and Expansion of Managed Care Health Insurance However, in the case of MaineHealth a Clinical Integration and Community Health Improvement organization a perfect integration has resulted in profound success in extending services to the community. The hospital followed the process of integrating […]
• Insurance Barriers in Mental Health Population With the help of the Affordable Care Act, access to mental health care among people with low income and from ethnic and racial minorities was improved significantly.
• The Single-Payer Healthcare System and Improve Health Insurance Availability The single-payer framework will boost healthcare management through centralization, thus, raising the accessibility of quality clinical services among all individuals who need them.
• The National Disability Insurance Scheme: The Issue of Financing Professionals working within the sphere of Aged Care and Disability Services have to collaborate with many organizations in order to ensure that their clients and patients receive the most benefits from the system.
• National Disability Insurance Scheme The development of NDIS is conditional upon the existence of specific issues related to the provision of healthcare services to disabled people.
• A Company Having Healthcare Insurance for Workers: Pros and Cons In terms disadvantages, the constant increase in the cost of health insurance is also a factor to consider. In such situations, employees are required to provide a medical certificate, and paid sick leave is only […]
• The Significant Mistakes That Go Against Insurance Policies Crastination has not gone to the office for the annual examinations, and the procedures done by Dr. Since the visit was entirely considered a medical treatment, it does not meet the requirements of an insurance […]
• Multiple Insurance Contracts and Customer Behavior Research Goal: This study will help to understand the dominant pattern in the insurance companies and comprehend why some of the companies have established multiple insurance services.
• Risk Management Throughout History: The Origins and Development of Private Insurance In particular, Chapter 4 The Return of Risk tracks the origins and development of private insurance and welfare state and examines the limitations of different risk management practices.
• The Future of Automobile Insurance Thus, progressive insurance politics can become a backbone of the safety of Canadian vehicles, while the consequences of the abolishment of insurances through the usage of new technologies are unpredictable.
• A Flood Insurance Program in Canada: The Way to Protect Lives and Homes Floods are the major source of property loss: according to the analysis made by Munich, insurance companies do not want to take all the bills they get and ignore the majority of them.
• Quality Management at Empire Blue Cross Shield Insurance Company Boasting of over 75 years experience in the insurance industry, the company has expanded its activities to cover all market segments.
• The Allianz SF Insurance Company and Its Activities in Saudi Arabia It should be observed that most of the firms coming from the other half of the world, commit the blunder of imposing the same marketing ploys and campaigns to the Saudi Arabia market; Allianz group […]
• AllSafe Insurance Company’s Ethics and Competition In this case, the customers of D & M Insurance Company are expected to buy more policies for the company as the prices of their policies would be expected to be lower.
• Portfolio Insurance: Types of Risk in Fund Investing Their main investment area is the stock exchange that is subjected to external forces that affect the prices of the shares. This is because the factors that lead to it are national and a wise […]
• Insurance Against Weather Conditions In Florida, the standard wind insurance payment increased from $723 to $1465 from 2002 to 2007, and in Florida’s coastal regions payments have tripled or even quadrupled. In addition, insurance companies have increased deductibles which […]
• Reiki Therapy: Why It Should Be Covered by Insurance It is success that counts most in this world and it is the system of Reiki holistic healing that is the success story of the day and under such conditions it should be covered by […]
• Introduction to Insurance The main aim of Insurance is to minimize the risks involved in various aspects of life and to cover and compensate the owner for any loss is suffered by the owner.
• Healthcare Trends and Implications. Insurance Affordable health care insurance needs to become a top priority and this article talks about the attempts of various states to increase health care coverage by providing greater access to healthcare and public coverage to […]
• Technological Development: Oman Insurance Company According to the requirements of combining information technology and information system relating to the internal and external environmental elaboration and development purpose, critical analysis of technological background and overall judgment of competency regarding the selected […]
• Personal Injury Insurance Adjuster in North Carolina But it is not always that the first person to arrive to your case will be a lawyer but most of the time it is an insurance adjuster who arrives first in a bid to […]
• Health Insurance Portability and Accountability Issues The survey consisted of 20 questions and wherein they assessed the procedures in place for HIPPA compliance, the involvement of the Health Information Managers with regards to setting HIPPA policy, the incidents of confidentiality breaches […]
• Home Insurance Increase in Florida Home insurance increases in Florida, and more and more people have to sell their homes because of high insurance rates and fraudulent actions of insurers.
• Insurance in Developing Social Responsibility Though insurance is all about covering and managing risks, the contribution of the collective and obligatory social insurance systems towards developing social responsibility on every individual of a society is not only built up to […]
• Disability Insurance Plans in Canada Disability insurance is the type of insurance that provides you with financial security when you are unable to work and earn an income due to an accident or illness.
• State Farm Mutual Automobile Insurance Company’s Finance Based on the income and expense statement, net income, the loss ratio, the expense ratio, and the combined ratio have been calculated.
• Car Insurance Charges and Gender and Age Factors In this regard, the majority of insurance companies prefer that drivers wait until they attain 25 years of age for them to start paying normal adult insurance rates. It is sensible for insurance companies to […]
• UniFirst and Progressive Insurance Corporation’s Technologies The use of PDA and IRV systems by both UniFirst and Progressive Insurance have enabled the businesses to expand, increase their output and customer base.
• Emotional Appeal in the Insurance Advertising The centrality of the word, as well as the uniformity of the blue background, forces the viewer to notice it and probably remember it for a long time, given the jolt of transition.
• Islamic Finance and Takaful Insurance Takaful is the Islamic version of conventional insurance. The Islamic form of insurance or Takaful discourages the levying of interest and gambling.
• Green Health Company: Dropping Insurance Products Paul, the vice president of Small Group Products, understands the risks of dropping the most popular programs in the state and notes that the losses for the business may be more significant than estimated.
• Health Insurance Provision in the USA In the first drafts of this major document, a health care reform was proposed as a way to change the insurance policies and provide people with more opportunities to get access to healthcare.
• Employer-Sponsored Health Insurance and Its Influence Employer-sponsored health insurance has a long history in the United States and remains the main form of individuals’ access to medical services in the country.
• Malpractice Insurance for Nurse Practitioners The author goes further to indicate that NPs should be willing to analyze the role of license insurance coverage. Studies should also be undertaken to analyze the nature of different malpractices and liabilities associated with […]
• Mandatory Health Insurance in Abu Dhabi and Dubai As a way of providing effective mandatory health insurance policies in Abu Dhabi and Dubai, the administrations should focus on the overall cost, localities of coverage by the insurance policies on the insured and the […]
• Pearl and Mutual Benefit Insurance Company’s Turnover The result is the recruitment of individuals that may not fit in the organization, leading to a high rate of turnover. It is important to analyze the strengths and weaknesses of the recruitment process.
• Health Insurance Portability and Accountability Act There is also a Security Rule that is also created to guarantee the protection of crucial information and provide specific safeguards that are needed to prevent the appearance of different complications.
• Prospective Insurance Company: History and Information Its vision and mission is to be the best insurance organization in the world and to positively impact on the community through the provision of effective financial security planning.
• Insurance Company’s Advantage and Competencies Regarding the source of differential advantage for the new insurance company, such a source as the targeted segment may be applied to the current case.
• Personal Financial Planning: Insurance Case Given the fact that the rent for the house is comparatively low, as well as the fact that there are valuable personal possessions, it will be reasonable to spend a significant number of the financial […]
• UAE vs. Saudi and Qatari Insurance Market The UAE is one of the dominant states in GCC, and its insurance conditions remain to be the most successful. The peculiar feature of insurance brokers in the GCC is their decision to capitalize on […]
• Risk, Insurance, and Third-Party Administrators The purpose of this paper is to discuss the term ‘risk’ and associated insurances, focus on the concepts of the ‘third party administrator’ and areinsurance,’ and report on the financial results of the major insurance […]
• Operational Risk Within Lloyd’s Insurance Market The article entitled, Operational Risk within an Insurance Market reflected the ideas of Manning and Gurney when it comes to the development and implementation of risk management within Lloyd’s insurance market. The article’s objective is […]
• Insurance: Purchasing Trends on Consumer Behavior These aspects have been seen to create dynamics for marketers in the insurance sector because they have continuously influenced the psychology and expectations of insurance consumers across the world.
• Pediatric Health Care and Insurance in the USA Despite the efforts of the U.S.government to ensure a thorough health care coverage for all children who are residents of the country, there remains a number of children who are uninsured and have no access […]
• Understanding the Importance and Implementation of Cyber Insurance for Businesses This led to the need of protecting the Internet users standing through other means, the foremost among them being the cyber insurance policies.
• Unemployment Insurance Policy in the United States Despite some of the efforts embraced by different communities, the issue of unemployment has continued to affect the welfare of many citizens in the country.
• Kaiser Permanente’s Healthcare Insurance Program One possible solution to this would be to create a similar system as seen in the case of Kaiser Permanente wherein through its network of 36 medical centers and 14,000 medical professionals it does allow […]
• BP Company’s Insurance Strategy and Risk Management BP was the largest company in the UK in the 1980s and 1990s. To the extent of such potential losses, BP has to buy insurance in exchange for loss settlements should the risks occur.
• Ethics and Issuing a Health Insurance Surcharge The primary reason for companies to refuse to issue a health insurance surcharge to employees who smoke or drink against medical advice is the fallacious argument that such employees in the work environment are conscientious […]
• Life Insurance Policy Choice Whole life insurance is a fixed premium insurance policy which covers the lifetime of the insured, as long as the premiums are paid.
• The World Insurance Partnership: Ethics Program The Ethics Program for the World Insurance Partnership is designed to declare the company’s core values, to promote the ethical principles and standards among the stakeholders with the focus on principles of transparency, integrity, and […]
• Constructit & E-editor Companies’ Health Insurance Changes to the Castor health insurance strategy result in the development of the Castor Enhanced Minor, which is most appropriate for the E-editor employees.
• Insurance Agency’s Organizational Behavior To achieve the objective of determining effective usage of human skills in management, the top manager, Miss Kally, was interviewed about of the company.
• Takaful Insurance Company in the UAE The Malaysian Takaful operator, Syrikat Takaful Malaysia, illustrated the swift growth of the first Takaful portfolio in the country, all based on a model which served as a platform for expansion to the other countries […]
• Health Insurance Exchange: Obamacare Program The artificial raising of customers’ demand minimizes the regulation power of clients in price setting due to the fact that the level of competitiveness in the insurance market will sag significantly.
• Contract Doctrine: McLain Versus Great American Insurance The author further notes that an implied contract case may be valid if a specific promise was made to the employee, if the employer’s entire course of conduct is consistent with the promise made to […]
• Direct Channels Impact on Insurance Industry Hence, the proposed item is both progressive and innovative, which correspond to the strategic vision and mission of the insurance company.
• Gulf Countries’ Social Insurance Social Insurance: Social insurance is the type of compensation that is offered and controlled by a government for the people who are aged, handicapped, or unemployed.
• Consumer Behavior in Insurance Positioning The role of a positioning strategy is to prepare the mind of a consumer. Since this is not an essential product, a number of factors influence a customer’s decision to buy insurance from a particular […]
• General Organization for Social Insurance The safety and welfare of the people is the prime objective of the Kingdom that abides by the principles of Islam.
• Risk Management: Types of Insurance Even though insurance cannot avoid the occurrence of bad things, it has the capability of transferring the financial consequences of the events to an insurance carrier, thus limiting the financial commitments of the insured firms.
• Strategic Plan of an Insurance Company in the UAE Firstly, the plan should highlight the vision and mission of the company i.e.what it is aimed for and what are its objectives and also highlight ways by which the company plans to generate handsome and […]
• The Progressive Group of Insurance Companies – Managers They can also opt out of the program with no conditions.”Snapshot”, according to the company is another “first” from Progressive Auto Insurance that is in line with the company’s culture of innovation and better customer […]
• The Issues in RACQ Insurance This paper discusses the aspects that led to this issue, which consist of placing the clients of RACQ at the core of its operations, the requirement for the company to administer capital and risk coupled […]
• Capital Mortgage Insurance Corporation The first guideline is setting the right rules in order to make the process successful. The first step of the negotiation process is planning.
• A Comparison of Construction Surety Bond and Insurance Performance bonds These bonds are designed with the objective of “protecting project owners from financial losses that might occur in the event that the contractor fails to execute the project in accordance with the predetermined […]
• Life Insurance Ethical Issues In the assessment of the JPMorgan Chase, the mysterious death of employees and the continued embrace of corporate insurance life policies come out as serious ethical concerns in the operation of the company.
• Organizational Behavior in Insurance Marketing Group The paper assesses how the organization’s behavior has been influenced by different components, which include the organization’s culture, internal communication, motivational techniques, nature of authority, areas of emotional quotient embraced by the organization, and the […]
• Health Insurance Importance The importance of health insurance to the health status of Americans necessitated the formulation of various laws to control the industry.
• Job Analysis: Assistant Insurance Salvage Evaluation Manager Besides, the treatise identifies stages involved in the job analysis process of the assistant insurance salvage evaluation manager who is expected to perform the role of assistant managers in the accident salvage department.
• Insurance in the UAE: Drivers’ Single Database In that regard, the database will provide information that will help insurance companies to determine the level of risk associated with each applicant.
• Excluding Health Insurance from Social Security Act This paper will explore the effects of excluding health Insurance from Social Security Act. This is mainly due to exclusion of health care insurance from Social Security Act.
• Marketing Research and How Marketing Information system is Organized in Middlesex Insurance Company Middlesex Insurance Company’s research plan guides the collection and analysis of data in the following ways; the research team outlines the research objectives, the audience, and how the results will be used.
• Issues Facing Medicare – Program Established to Provide Health Insurance This is because of the high cost of health care and the increased number of baby boomers in the United States.
• Risk Management: Insurance Industry in Queensland Australia It also involves the strategic application of the available resources in an effort to reduce, scrutinize, and manage the probability and effects of the risks while at the same time trying to maximize opportunities for […]
• Quantitative Techniques of Mitsui Sumitomo and Asahi Insurance Companies
• Service Quality Gap: Oman Insurance Company
• Compensation System of State Farm Insurance
• Premiums in XYZ Health Insurance
• International Dentists Insurance Company
• Risk Management and Insurance
• Inequality in U.S Healthcare: The Americare Insurance System
• Health Insurance Schemes
• Unemployed Insurance in Social Security
• The Nature of Health Insurance in the U.S
• National Health Care System for Insurance Program in America
• Health Insurance and Mandatory Requirements
• The Basic Elements of Health Insurance
• Organizational Behavior Management at the Travelers Companies, Inc.
• Technological Insurance: Investigating Potential of South Korea for Promoting Products
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• What Is the Biggest Issue in the Insurance Industry?
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• What Are the Main Reasons of Failure of Two Insurance Policy of the Company?
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• What Is the Challenge of Risk Related to Future in Insurance?
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• How Are the IAIS Principles Met Within the Mauritian Legislation on Insurance?
• What Is Insurance in Simple Words?
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• What Is the Effect of Health Insurance Coverage on the Use of Medical Services?
• What Is the Insurance Law Rights at Variance with Policy Provisions?
• What Is the the Doctrine of Reasonable Expectations in Insurance Law?
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Insurance - List of Free Essay Examples And Topic Ideas

Insurance plays a crucial role in mitigating financial risks and ensuring economic stability for individuals and businesses alike. Essays could delve into the origins and evolution of insurance, tracing back to ancient forms of risk pooling to modern-day insurance markets. They might also discuss the different types of insurance, such as life, health, property, and casualty insurance, exploring their significance in providing financial security. Discussions might extend to the regulatory frameworks governing insurance markets, and how they impact pricing, coverage, and consumer protection. The discourse may also touch on the challenges and ethical considerations in the insurance industry, such as adverse selection, moral hazard, and the implications of emerging technologies like big data and artificial intelligence on insurance practices. A substantial compilation of free essay instances related to Insurance you can find at Papersowl. You can use our samples for inspiration to write your own essay, research paper, or just to explore a new topic for yourself.

Supply of Mental Health Insurance Coverage

Introduction Affordable medical care provisions offers the best services for mental health, this is after the introduction of the Affordable Care Act. The act requires that all individuals and employers subscribe to the insurance benefit plan. Purity in mental health acts like a rectifier of unfairness in the health insurance. However due to the increasing mental problems the total spending has increased, based on results from the health insurance companies (Schroeder, 2012). Another evidence has suggested and found it prudent […]

IoT Integration in Insurance: Opportunities and Challenges

BACKGROUND This proposal deals with the effects of Internet of Things (IoT) on insurance market and discsuss the future of IoT based insurance investments. There is no agreed unique definition for Internet of Things which is agreed by whole researchers, academicians, corporate people and other communities. The definition first used by Kevin Ashton, a digital innovation expert. All experts are agreed on a common idea, Internet was firstly about the data created by people, the next version of Internet is […]

Raised Age Limits for Driving

Introduction A national shift to delay teenagers from driving limit at sixteen to seventeen needs to be undertaken to reduce the greater statistical odds of crashes drivers face. The collaborative efforts of Sakai et al finds teenagers are physiologically incapable of being sensible drivers (2012). The brain of a sixteen year, according to the National Institute for Mental Health, is undeveloped in areas of impulse control and contemplation of future action consequences as compared to 18 and 21-year old drivers […]

We will write an essay sample crafted to your needs.

Weather Index-Based Livestock Insurance

This paper focuses on estimating the causal effects of index-based livestock insurance on poultry production among pastoralists in the Borena zone of southern Ethiopia, using four rounds of household level panel data. Exploiting randomization of extension treatments to purchase the index-based livestock insurance, and using a fixed effect model and standard Tobit model analysis, our result shows that households who purchased an index-based livestock insurance contract in at least one sales period are more likely to keep a greater number […]

Commercial Insurance

The information that I considered important for this work for academic purposes, start with a general idea about what is and how does an insurance work, it is very important to understand the concept about insurance before people know all the history and where does it come from. Then, we will see all the highlights that has been this market since it was created and how has it impacted in the society. This research is going to show information about […]

Child Development in Poor Families

Poverty is a global problem that has always accompanied humanity. Nowadays, this phenomenon most often affects families with many children and its negative effects can be observed mostly with children. Lack of funds for satisfying basic living needs constitutes a threat to their health and proper development, is a cause of educational negligence and a reason for social alienation. Childhood in poverty often leads to the adoption of bad models and the replication of lifestyles of previous generations. It is […]

Insurance for Agriculture

Nearly 200 years ago, agricultural workers made up almost 70 percent of the American labor force. However, changes in today's economy and the decline of small American farms has reduced this number to less than two percent of the labor force. If there are fewer people working in the agriculture system, how much detail still goes into the oversight of food production? Consumers are often blind to the production of their food. Critics speak out about their concerns for the […]

Climate Changes and the Insurance Industry

Prosperity--it's a word that comes to mind when we think about the United States of America and we are absolutely right about that. Post World War II, our economy has experienced astounding economic growth without much signs of slowing down, even to this day. In fact, this postwar period was when the US fortified its position as not only a global superpower, but also as the world's richest nation. But in order to reach this standing of influence and wealth, […]

Travel Experience: the Essential Tips for a Successful and Enjoyable Travel

Why Travelling is Important “Why traveling is important tips?” I hear you asking. You’ve done it before, and once again, you’re smiling. But there’s a reason you’re smiling, and that’s because, once again, you got your desired result: you’ve enjoyed your traveling experience! And did you know that the tips that you got here can be applied to just about any travel experience? Traveling is actually a good activity. There are people who say otherwise, but it’s really true: traveling […]

Top 10 Insurance Companies for 2019

The current health insurance policies and methods are changing in modern America. Under the Obama administration, it was wired to work using the Federal Patient Protection and Affordable Care Act (PPACA), often known as Affordable Care Act (ACA) or more popularly, as “Obamacare.” However, all across the nation, you’d find variations, as each state creates their own rules and has guidelines for the health insurance companies to follow. Thus, the general law is divided sectionally, adjusting its demands to the […]

Health Insurance Market Structure

One of the main issues with the health insurance market in the U.S. is the nature of the market itself: oligopoly market. In America, health insurance markets are usually extremely concentrated with a single insurer commanding almost 50 percent of the market (Clemens 121). This nature of market correlates with cost, quality, and availability of health insurance and medical care. The health insurance industry as well as the hospital industry market structure might be the misery behind the skyrocketing medical […]

Analysis of the Affordable Care Act and the Birth Control Pill

Obamacare was signed into law in March 2010. The law covers various types of health plans, benefits, and services. Just years ago millions of women were paying for or couldn't afford birth control. Now, "an estimated 27 million women are currently benefiting from Obamacare's no-cost services” (Ressler). Birth Control is an ongoing debate on whether the pill itself should be covered for by taxes due to peoples rights and beliefs about its use. Another issue about the contraception is who […]

Running Head Health Insurance Specialist

Abstract A health insurance specialist is a connotative term used to describe professionals in the health insurance field who are tasked with the responsibility of processing medical claims, keeping patients records as well as medical coding. They can also be known as medical coders, claims reimbursement specialists, medical assistants, and medical technicians and even claim examiners. One of their main responsibilities is to ensure that the correct premiums are paid but also the coinsurance, copayment by the ensured patient while […]

Globalization of Insurance

According to Vaughan and Vaughan, they mentioned in the text, "Reinsurance is the most global sector of the insurance industry. In 2011, fewer than half (42 percent) of the reinsurance premiums ceded by U.S. insurers went to U.S. reinsurers." They also stated that there are two approaches to reinsurance regulation. Under the first approach, the reinsurer isn't directly controlled. Ceding companies are treated as informed purchasers and regulators rely on these ceding organizations to manage their reinsurance risk properly, including […]

Effects of Health Insurance on Labour Mobility

The risk on whole or part is covered by insurance of a person incurring on a person due to expenditure of medical related issues, saturating risk over certain number of people either large or small. The individual who purchases the protection of insurance has to make a minimum amount of per monthly payment, known as "premium". The details of the premium are provided in the insurance agreement by a firm which provides the service of insurance. At the most fundamental […]

About Wedding Insurance

Your wedding day is one of the most important? and expensive? days of your life. No matter how long and how carefully you've planned your big day, there's always a chance that an unexpected event can disrupt your plans. We've all heard wedding horror stories. With the average wedding in the United States costing more than $30,000(1), it's no wonder that wedding insurance is becoming more popular. Here's what you should know about wedding insurance. What Is Wedding Insurance? Lots […]

Health Exchange Paper 

The Kaiser Family Foundation is a non-profit organization that helps to provide information on important health policy issues involving the United States' role in health insurance. When first looking at the website, it seems like there's a lot of information to begin with and you don’t know where to start. After looking around the website, there's a tab that gives you options to click on giving you a lot of information on different topics including Disparities Policy, Global Health Policy, […]

Discussion of Government and Unemployment Insurance

Discussion 1 a). Medicare is a program by the federal government in US, which offers health cover to its citizens. The package is extended to cover old people who have 65 years and above as well as young individuals who have disabilities. The health cover plays a major role in providing financial plus health security paying many medical health services to persons it covers (Edwards, 2014). Major characteristics of this program include; many people using the program have medical problems […]

Risk Management and Insurance

As people, we are faced with the possibility of loss in our everyday lives. Be it a car accident, illness, Property loss, or even death. As early as the millennia B.C, modern profit insurance was demonstrated in a contract of a loan of trading capital to traveling merchants. The first insurance company formed in the United States was in Charleston, South Carolina during 1732. Later in 1752, Benjamin Franklin helped spread insurance by creating the Philadelphia Contributionship which ensured that […]

The ACA’s Role in Transforming American Health Insurance

One of the main challenges facing the American healthcare system is the high number of the uninsured patients. Prior to the adoption of the Affordable Care Act (ACA), a larger number of Americans were uninsured. However, with its adoption, historic gains in Medicaid coverage to a several low-income households were achieved and it provide Marketplace subsidies to people under 400% of poverty line. It effectively reduced the number of the uninsured from a massive 44 million individuals in 2013 to […]

Analyzing under Insurance in Malaysia: Impacts, and Strategies for Mitigation

The studies and findings related to underinsurance have been discussed in recent years. These findings have been proven and demonstrated in articles, journals, research papers, presentations, and news reports. These studies suggest that the level of underinsurance in Malaysia is high, as is awareness of the issue. Underinsurance is quantified by the extent to which citizens in a country are inadequately covered by life insurance protection. Therefore, in order to reduce underinsurance, it is necessary to calculate and analyze it […]

You May not Need Big Data

In the article You May Not Need Big Data After All, 7-Eleven a prime example that empowering employees with the use of little data needed can help salesclerks make better operating decisions on a daily basis. This concept can also cause a continuing stream on innovation, and successively have a really successful business like 7-Eleven (Ross, Beath & Quaadgras, 2013). I accept as true with many aspects within the article; however, I don’t think big data should be ignored entirely. […]

Telematics Accident Reconstruction and Insurance Company Insured

In transport industry vehicles are primary valuable asset for their companies, which is why fleet managers have to ensure their fleets are insured and secured on time with advanced ‘telematics insurance’ or ‘usage based insurance’ (UBI) or also known as ‘pay as you go’ insurance for any unpreventable safety precautions. But when a vehicle occurred in an accident, getting an insurer to pay up your claims is never an easy task. It is never enough to simply walk into the […]

Agricultural Insurances

Data and Methodology: Karnataka state, with more than 75 per cent of its arable land in the rain fed regions, has the Second largest drought-prone area in India, (first largest Rajasthan). Minimizing the impact of natural disaster–related agriculture losses, particularly from drought, is therefore a major public policy objective for its government. An effective crop insurance system is a critical part of a strategy to cushion income losses for farmers, finance inputs for agricultural production in the next planting season […]

California Health Insurance Fairness Act

Overview of health problem In the modern society, health insurance is an imperative issue that helps with the firm address of major activities to be carried out. The identification of ardent activities that would drive the health service providers to have a package of insurance has led to a great level of difference in the society. While there are employers who have the capacity to provide their employees with the health insurance and certain benefits, there are others who do […]

Individual Life Insurance

A company's cultural beliefs and work environment greatly affects employees. When a company embraces diversity, employees and the business benefit immensely. This benefit is then reflected to the client though customer service and by the good or services provided. Today, Americans have the option of choosing from a wide array of insurance carriers for life, health, and car insurance. It is through a company's organizational culture that customers will decide what organization their policy will be obtained with. Globe Life […]

The Confluence of AAA4 Insurance and Virtual Reality Innovation

In today's fast-paced world, insurance remains a bedrock of financial security, shielding individuals from the uncertainties that life often throws our way. Among the plethora of insurance products, AAA4 insurance is notable for its specialized coverage options tailored to unique needs. When we merge the concept of AAA4 insurance with the burgeoning field of virtual reality (VR), an intriguing narrative unfolds, highlighting the transformative potential and unforeseen synergies between these two domains. AAA4 insurance is characterized by its bespoke coverage, […]

Understanding what GEICO Stands For: a Deep Dive into its History and Services

GEICO is one of those acronyms that pops up frequently in American culture, primarily due to its massive presence in the insurance industry and memorable advertising campaigns featuring a cheeky gecko. But beyond the commercials and the catchy name, what does GEICO actually stand for? Let’s take a closer look at the origins and evolution of this iconic brand. GEICO stands for Government Employees Insurance Company. The name reflects its original target audience—government employees—when it was founded in 1936 by […]

Insurance Assurance: the Impact of Allstate’s ‘You’re in Good Hands’ Slogan

The motto "You're in Good Hands," synonymous with Allstate Insurance, transcends mere catchiness; it embodies a potent declaration of trust and dependability that has resonated with consumers for generations. This discourse delves into the genesis of the motto, its role in shaping Allstate's brand identity, and its efficacy in instilling customer confidence in the company's insurance offerings. Debuted in the 1950s, the "You're in Good Hands" slogan was crafted as a component of a marketing initiative aimed at conveying Allstate's […]

21st Century Mortgages: Navigating the Insurance and Lending Landscape

Let's take a wild ride through the world of 21st-century mortgages, where the only constant is change. Think of it like a financial rollercoaster – from the dizzying highs of easy loans to the stomach-churning drop of the 2008 crash, and now cruising into the digital age of home buying. This isn't your grandparents' mortgage market; it's a whole new game. Rewind to the early 2000s, and it was party time in the mortgage world. Loans were handed out like […]

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Fundamentals of the Insurance Business

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• Massimiliano Maggioni 0 ,
• Giuseppe Turchetti 1

Institute of Management, Sant’Anna School of Advanced Studies, Pisa, Italy

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• Offers a comprehensive perspective on relevant aspects in the insurance industry
• Combines theory and a concretely practical approach to the insurance business
• Covers all the topics regarding the insurance companies and the related managerial issues

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About this book

• Insurance management
• Insurance business
• Marketing of insurance
• Insurance distribution
• Performance of insurance companies
• Technical management and insurance
• Risk management and insurance
• Casualty insurance
• Life insurance
• Private insurance
• Insurance underwriting
• Insurance operations
• Insurance products
• Insurance manual
• Insurance handbook
• Insurance regulation
• Property and casualty insurance
• Profit and loss for insurance companies

Authors and Affiliations

Massimiliano Maggioni, Giuseppe Turchetti

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Bibliographic information.

Book Title : Fundamentals of the Insurance Business

Authors : Massimiliano Maggioni, Giuseppe Turchetti

Series Title : Springer Texts in Business and Economics

Publisher : Springer Cham

eBook Packages : Economics and Finance , Economics and Finance (R0)

Copyright Information : Springer Nature Switzerland AG 2024

Hardcover ISBN : 978-3-319-52850-2 Due: 19 October 2024

eBook ISBN : 978-3-319-52851-9 Due: 19 October 2024

Series ISSN : 2192-4333

Series E-ISSN : 2192-4341

Edition Number : 1

Number of Pages : XXVI, 762

Number of Illustrations : 161 b/w illustrations, 2 illustrations in colour

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BUSINESS STUDIES GRADE 12 QUESTIONS - NSC PAST PAPERS AND MEMOS NOVEMBER 2019

BUSINESS STUDIES GRADE 12 NATIONAL SENIOR CERTIFICATE EXAMINATIONS NOVEMBER 2019

INSTRUCTIONS AND INFORMATION Read the following instructions carefully before answering the questions.

• This question paper consists of THREE sections and covers all FOUR main topics. SECTION A: COMPULSORY SECTION B: Consists of FIVE questions Answer any THREE of the five questions in this section. SECTION C: Consists of FOUR questions Answer any TWO of the four questions in this section.
• Read the instructions for each question carefully and take particular note of what is required. Note that ONLY the first THREE questions in SECTION B and the first TWO questions in SECTION C will be marked.
• Number the answers correctly according to the numbering system used in this question paper. NO marks will be awarded for answers that are numbered incorrectly.
• Except where other instructions are given, answers must be in full sentences.

• Use the table below as a guide for mark and time allocation when answering each question
• Begin the answer to EACH question on a NEW page, e.g. QUESTION 1 – new page, QUESTION 2 – new page.
• You may use a non-programmable calculator.
• Write neatly and legibly.

SECTION A (COMPULSORY) QUESTION 1 1.1 Various options are provided as possible answers to the following questions. Choose the answer and write only the letter (A–D) next to the question numbers (1.1.1 to 1.1.10) in the ANSWER BOOK, e.g. 1.1.11 D. 1.1.1 The aim of this Act is to protect consumers against unfair reckless lending by businesses:

• Consumer Protection Act (CPA), 2008 (Act 68 of 2008)
• Employment Equity Act (EEA), 1998 (Act 55 of 1998)
• National Credit Act (NCA), 2005 (Act 34 of 2005)
• Labour Relations Act (LRA), 1995 (Act 66 of 1995)

1.1.2 Teddy Car Manufacturers implemented the … integration strategy when they bought Tail Motors Spares.

1.1.3 ABC Paints operate in the … sector as they specialise in the manufacturing of paint.

1.1.4 William, the manager of Eden Supermarket, applies the … leadership style when delegating tasks to followers without supervision.

• bureaucratic
• laissez-faire/free-reign
• charismatic

1.1.5 The … company provides essential services such as water and electricity at reasonable prices.

• personal liability
• state-owned

1.1.6 An example of a non-verbal presentation is information in the form of a/an …

• written report.
• data projector.
• video conferencing.
• oral report.

1.1.7 This problem-solving technique requires each employee to first generate his/her own ideas and then share them with members:

• Brainstorming
• Force-field analysis
• Empty chair technique
• Nominal group technique

1.1.8 Goal Ltd contributes towards the well-being of their employees by …

• giving them the right to freedom of association.
• providing recreational facilities.
• allowing them longer break intervals despite tight deadlines.
• providing transport to all employees regardless of working hours.

1.1.9 The … function ensures reliable capturing and storing of data/ information.

• human resource
• administration

1.1.10 The process of matching a new employee's skills and abilities with the requirements of a job is known as ...

• recruitment.
• training. (10 x 2) (20)

1.2 Complete the following statements by using the words provided in the list below. Write only the word(s) next to the question numbers (1.2.1 to 1.2.5) in the ANSWER BOOK. simple interest; quality management; health and safety representative; one and a half of; recruitment; employer; compound interest; double; screening; quality 1.2.1 Ricky received … his normal rate of pay for working on a public holiday. 1.2.2 Thandeka earned … calculated on the principal amount and accumulated interest. 1.2.3 The responsibility of the … is to provide all the necessary equipment for workers to perform their duties in a favourable work environment. 1.2.4 The ability of goods/services to meet the specific needs of customers/clients, is known as … 1.2.5 Candidates' application forms are checked against the requirements of the job during the … process. (5 x 2) (10) 1.3 Choose a description from COLUMN B that matches a term in COLUMN A. Write only the letter (A–J) next to the question numbers (1.3.1 to 1.3.5) in the ANSWER BOOK, e.g. 1.3.6 K.

(5 x 2) (10) TOTAL SECTION A: 40 SECTION B Answer ANY THREE questions in this section. NOTE: Clearly indicate the QUESTION NUMBER of each question that you choose. The answer to EACH question must start on a NEW page, e.g. QUESTION 2 on a NEW page, QUESTION 3 on a NEW page.

QUESTION 2: BUSINESS ENVIRONMENTS 2.1 Name THREE types of diversification strategies. (3) 2.2 Outline the role of SETAs in supporting the Skills Development Act (SDA), 1998 (Act 97 of 1998). (8) 2.3 Identify the leave provision stipulated in the Basic Conditions of Employment Act (BCEA), 1997 (Act 75 of 1997) that Quick Shoe Manufacturers complied with in EACH statement below: 2.3.1 Ruth, the secretary, was allowed to stay home for four consecutive months after her baby was born. 2.3.2 Ashley, the supervisor, is entitled to take up to 21 days leave per year. 2.3.3 John, the financial clerk, was given permission to take three to five days off work to attend to his sick mother. 2.3.4 Zodwa, the production manager, brought a medical certificate for taking three days off to recover from flu. (8) 2.4 Explain the purpose of the Labour Relations Act (LRA), 1995 (Act 66 of 1995). (8) 2.5 Discuss any THREE consumer rights as stipulated in the Consumer Protection Act (CPA), 2008 (Act 68 of 2008). (9) 2.6 Read the scenario below and answer the questions that follow. MEAT MARKET LTD Meat Market Ltd specialises in supplying fresh meat to customers. The company gave some of its shares to their previously disadvantaged employees. They were also offered learnership programmes. 2.6.1 Name the Act that Meat Market Ltd is complying with in the scenario above. (2) 2.6.2 Identify TWO pillars of the Act identified in QUESTION 2.6.1 that Meat Market Ltd implemented. Motivate your answer by quoting from the scenario above. Use the table below as a GUIDE to answer QUESTION 2.6.2.

(6) 2.7 Explain how the following PESTLE elements/factors may pose challenges to businesses: 2.7.1 Economic (4) 2.7.2 Social (4) 2.8 Suggest practical ways in which businesses may comply with the Employment Equity Act (EEA), 1998 (Act 55 of 1998). (8) [60]

QUESTION 3: BUSINESS VENTURES 3.1 State FOUR types of preference shares. (4) 3.2 Outline the advantages of unit trusts as a form of investment. (8) 3.3 Read the scenario below and answer the questions that follow. MOUNTAIN HOTEL (MH) Sihle, the owner of Mountain Hotel, applies the democratic leadership style in managing his employees. He has a positive attitude and knows that there is always more to learn. Sihle models the behaviour that he wants to see in his followers. 3.3.1 Quote TWO roles of personal attitude in successful leadership displayed by Sihle in the scenario above. (2) 3.3.2 Advise Sihle on the impact of the democratic leadership style on MH as a business. (8) 3.4 Discuss the importance of insurance for businesses. (8) 3.5 Explain the following factors that may be considered when making investment decisions: 3.5.1 Return on investment (4) 3.5.2 Liquidity (4) 3.6 Read the scenario below and answer the questions that follow. TOP TRADERS (TT) Top Traders bought stock worth R400 000, but insured it for R300 000. A fire in the warehouse destroyed stock to the value of R60 000. 3.6.1 Name the insurance clause that is applicable to the scenario above. (2) 3.6.2 Calculate the amount that Top Traders will receive as compensation from the insurer. Show ALL calculations. (4) 3.7 Discuss the advantages of a non-profit company as a form of ownership. (8) 3.8 Advise businesses on how management and legislation could contribute to the success and/or failure of a public company. (8) [60]

QUESTION 4: BUSINESS ROLES 4.1 State FOUR steps in problem-solving. (4) 4.2 Elaborate on the roles of the health and safety representatives in protecting the workplace environment. (6) 4.3 Read the scenario below and answer the question that follows. NORMAN ACCOUNTING SERVICES (NAS) The management of Norman Accounting Services employs both males and females. They also encourage older employees to be mentors for young employees to develop their full potential. Identify TWO diversity issues that are applicable to NAS. Motivate your answer by quoting from the scenario above. Use the table below as a GUIDE to answer QUESTION 4.3.

(6) 4.4 Explain how businesses could apply the Delphi-technique to solve business problems. (8) 4.5 Discuss the advantages of creative thinking in the workplace. (6) 4.6 Read the scenario below and answer the questions that follow. JUNE TRADERS (JT) June Traders decided to invest their surplus profit in corporate social investments (CSI) projects. They invested in communities by donating school uniforms. Sporting facilities were also provided by JT to promote a healthy lifestyle. 4.6.1 Quote TWO ways in which JT contributed to the well-being of their communities. (2) 4.6.2 Discuss the impact of corporate social investment (CSI) on JT as a business. (6) 4.7 Explain how businesses can apply the King Code principles of transparency and accountability to improve their ethical business practices. (8) 4.8 Suggest ways in which businesses can deal with the following unethical/unprofessional business practices: 4.8.1 Pricing of goods in rural areas (4) 4.8.2 Abuse of work time (4) 4.9 Advise businesses on how they could promote the cultural rights of employees in the workplace. (6) [60]

QUESTION 5: BUSINESS OPERATIONS 5.1 Name FOUR methods/sources of external recruitment. (4) 5.2 Read the scenario below and answer the questions that follow. KHAN PRIVATE HOSPITAL (KPH) Khan Private Hospital has advertised a vacancy for a nurse. The advertisement includes the following aspects regarding the position:

• Applicants must have a diploma in nursing as a minimum requirement.
• Responsible for observing patients and giving medication.
• Two years' experience in nursing will be an advantage.
• Compiling daily reports on the progress of the patients. The advertisement indicates that only shortlisted candidates will be contacted for an interview.

5.2.1 Quote TWO examples of job description and TWO examples of job specification in the scenario above. Use the table below as a GUIDE to answer QUESTION 5.2.1.

(4) 5.2.2 Explain the role of the interviewee/applicant during the interview. (8) 5.3 Discuss the implications of the Skills Development Act (SDA), 1998 (Act 97 of 1998) on the human resources function. (6) 5.4 Evaluate the impact of fringe benefits on businesses. (8) 5.5 Elaborate on the meaning of quality performance. (4) 5.6 Read the scenario below and answer the question that follows. PURPLE ENTERPRISE (PE) Purple Enterprise is a large retail business that provides a variety of products. They prepare their own accounting records to ensure accurate tax payments. PE responded quickly when one of their clients was not happy with their service. Identify TWO business functions that are applicable to PE. Motivate your answer by quoting from the scenario above. Use the table below as a GUIDE to answer QUESTION 5.6.

(6) 5.7 Discuss the impact of TQM if poorly implemented by businesses. (8) 5.8 Explain the advantages of continuous improvement to processes and systems on large businesses. (6) 5.9 Recommend ways in which the quality of performance of the purchasing function could contribute to the success of the business. (6) [60]

QUESTION 6: MISCELLANEOUS TOPICS BUSINESS ENVIRONMENTS 6.1 Name THREE types of business environments and state the extent of control businesses have over EACH of these environments. Use the table below as a GUIDE to answer QUESTION 6.1.

(6) 6.2 Read the scenario below and answer the questions that follow. LEGEND PROJECTS (LP) The management provided the Commissioner with false information regarding serious accidents that took place at Legend Projects. They also bribed one of their employees not to report injuries sustained while performing his/her duties. 6.2.1 Identify the Act that is applicable in the scenario above. (2) 6.2.2 Quote TWO actions that can be regarded as discriminatory according to the Act identified in QUESTION 6.2.1. (2) 6.2.3 Advise the management of LP on penalties they could face for non-compliance with the Act identified in QUESTION 6.2.1. (4)

BUSINESS VENTURES 6.3 Identify the types of business investment opportunities that were used by Prime Plumbers in EACH statement below: 6.3.1 Prime Plumbers invested R50 000 for six months at 12% interest with a financial institution. 6.3.2 Prime Plumbers received dividends for their portion of ownership in Blue Range Ltd. (4) 6.4 Outline the functions of the Johannesburg Securities Exchange Ltd (JSE). (6) 6.5 Discuss the situational leadership theory. (6)

BUSINESS ROLES 6.6 State TWO criteria for successful team performance. (2) 6.7 Explain how businesses could deal with HIV/Aids as a socio-economic issue. (6) 6.8 Recommend ways in which businesses could create an environment that stimulates creative thinking in the workplace. (8)

BUSINESS OPERATIONS 6.9 Name any THREE steps of the PDCA model/cycle. (3) 6.10 Read the scenario below and answer the questions that follow. SKY LTD Helen has been working for Sky Ltd for the past 30 years. The management terminated her employment contract when she reached the age of 65. 6.10.1 Identify the reason why Helen's employment contract was terminated. Motivate your answer by quoting from the scenario above. (3) 6.10.2 Explain other reasons for the termination of an employment contract. (4) 6.11 Discuss the purpose of induction as a human resources activity. (4) [60]

TOTAL SECTION B: 180

SECTION C Answer ANY TWO questions in this section. NOTE:  Clearly indicate the QUESTION NUMBER of each question chosen. The answer to EACH question must start on a NEW page, e.g. QUESTION 7 on a NEW page, QUESTION 8 on a NEW page.

QUESTION 7: BUSINESS ENVIRONMENTS (BUSINESS STRATEGIES) Businesses realise the importance of the strategic management process when devising suitable business strategies. Some businesses maintain that Porter's Five Forces model plays an important role in remaining competitive in the market environment. Write an essay on business strategies in which you include the following aspects:

• Describe the strategic management process.
• Discuss the THREE types of defensive strategies that businesses may use to address challenges in the macro environment
• Explain how businesses could apply Porter's Five Forces model to analyse the market environment.
• Advise businesses on the steps they should consider when evaluating strategies. [40]

QUESTION 8: BUSINESS VENTURES (PRESENTATION AND INSURANCE) Mr Meyer, a sales representative, planned to make a presentation on the principles of insurance. He decided to use a PowerPoint slideshow to enhance his presentation. However, the presentation was unsuccessful due to his inability to handle feedback in a professional manner. Keeping the above scenario in mind, write an essay on presentation in which you include the following aspects:

• Outline the factors that Mr Meyer should consider during his presentation.
• Discuss any THREE principles of insurance.
• Evaluate the impact of a PowerPoint presentation.
• Advise Mr Meyer on how he can improve on his next presentation. [40]

QUESTION 9: BUSINESS ROLES (TEAM PERFORMANCE AND CONFLICT MANAGEMENT) Businesses encourage employees to work in teams, which may lead to conflict sometimes. For this reason, it is important for businesses to familiarise themselves with the stages of team development. They should also find ways to deal with conflict and difficult people in the workplace. Write an essay on team performance and conflict management in which you address the following aspects:

• Describe FOUR stages of team development.
• Discuss the causes of conflict in the workplace.
• Explain how businesses could handle conflict in the workplace.
• Suggest ways in which businesses could deal with difficult people in the workplace. [40]

QUESTION 10: BUSINESS OPERATIONS (TOTAL QUALITY MANAGEMENT) Total quality management (TQM) enables businesses to strive for continuous growth and customer satisfaction. The effective implementation of TQM elements will enable businesses to keep abreast with changes and to reduce the cost of quality. Write an essay on total quality management (TQM) in which you address the following aspects:

• Outline the benefits of a good quality management system.
• Distinguish between quality control and quality assurance.
• Total client/customer satisfaction
• Continuous skills development
• Adequate financing and capacity
• Suggest ways in which TQM can reduce the cost of quality. [40]

TOTAL SECTION C:80 GRAND TOTAL:300

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Business Studies Grade 12 Essays Questions and Answers pdf

Business Studies Grade 12 Essays Questions and Answers pdf:

Business Studies Grade 12 Essays Questions and Answers

Legislations essay questions.

Question 1:

The Labour Relations Act (LRA), 1995 (Act 66 of 1995) is a critical piece of legislation that outlines the rights of employees in the workplace. It is expected that businesses have a thorough understanding of this Act to implement it effectively. Many businesses seek legal advice to ensure compliance and avoid penalties for non-compliance with the LRA.

• Outline the rights of employees in terms of the Labour Relations Act , which include the right to join a trade union, engage in collective bargaining, and strike. It also prohibits unfair labour practices like discrimination and unfair dismissal procedures.
• Explain the purpose of the Labour Relations Act , which is to promote and regulate sound labour relations to contribute to economic growth and social development by establishing fair labour practices and procedures.
• Discuss the impact of the Labour Relations Act on businesses , which require compliance with certain procedures and practices to protect the rights of employees, conduct negotiations with trade unions, follow fair dismissal procedures, and ensure no unfair labour practices occur. Failure to comply with the Act may result in penalties, such as fines, compensation for affected employees, and legal action, which may damage the business’s reputation and negatively affect employee morale and productivity.
• Advise businesses on the penalties they may face for non-compliance with the LRA , which may include fines, compensation for affected employees, and legal costs. Non-compliance may also lead to reputational damage and negatively affect employee morale and productivity.

Question 2:

The National Credit Act (NCA), 2005 (Act 34 of 2005) provides a framework to regulate the credit market. It protects the rights of consumers and provides guidelines on how businesses should comply with this Act. Businesses may face penalties for not complying with the National Credit Act.

Write an essay on the National Credit Act in which you include the following aspects:

• Outline the rights of consumers in terms of the National Credit Act.
• Discuss the impact of the NCA on businesses.
• Explain ways in which businesses could comply with the NCA.
• Advise businesses on the penalties they may face for non-compliance to the Act.

Human Resources Function

The human resources manager is responsible for compiling the job description and job specification. Suitable candidates can be recruited internally using various recruitment sources. The interviewees should be familiar with their role during the interview. Businesses must ensure that the employment contract complies with the legal requirements of employment.

Write an essay on the human resources function in which you include the following human resources activities:

• Outline the differences between job description and job specification.
• Discuss the impact of internal recruitment on a business.
• Explain the role of the interviewee during the interview.
• Advise businesses on the legal requirements of the employment contract.

Business Function: Quality of Performance

Businesses implement quality control and quality assurance processes to produce high quality products. They also enjoy the benefits of a high-quality management system. Continuous skills development and total client satisfaction contribute towards the effective implementation of total quality management (TQM). Other businesses prefer to use the services of quality circles to achieve the desired outcome. Write an essay on quality of performance in which you include the following aspects:

• Outline the differences between quality control and quality assurance.
• Explain the benefits of a good quality management system.
• Continuous skills development/Education and training
• Total client/customer satisfaction
• Advise businesses on the role of quality circles as part of continuous improvement to processes and systems. [40]

Business Venture: Management and Leadership

Effective management and leadership play an important role in achieving business goals. Many leaders follow the transformational leadership theory as a guide to lead their employees. Others use the democratic and autocratic leadership styles in the workplace. Some leaders agree that the role of personal attitude is important for successful leadership.

• Write an essay on management and leadership in which you include the following aspects:
• Outline the differences between management and leadership.
• Explain the transformational leadership theory.
• Advise businesses on the role of personal attitude in successful leadership.[40]

Investment Securities

BUSINESS VENTURES (INVESTMENT: SECURITIES) Investing in a fixed deposit provides investors the opportunity to decide whether they want to receive simple interest or compound interest. Investors must also consider various types of shares before making investment decisions. Some invest in companies that are listed on the Johannesburg Securities Exchange (JSE).

Write an essay on investment securities in which you include the following aspects:

• Outline the differences between simple interest and compound interest.
• Explain the advantages of a fixed deposit as a form of investment.
• Discuss any THREE types of shares.
• Advise businesses on the functions of the Johannesburg Securities Exchange

Business Roles: Creative and Problem-solving

Businesses need to identify problems that affect their operations in order to make informed decisions. They must also create an environment that promotes creative thinking to enjoy the benefits of creativity in the workplace. The Delphi technique and the force-field analysis enable businesses to solve complex business problems.

• Write an essay on creative thinking and problem-solving in which you include the following aspects:
• Outline the differences between problem-solving and decision-making.
• Explain ways in which businesses can create an environment that promotes creative thinking in the workplace.
• Discuss the advantages of creative thinking in the workplace.
• Delphi technique
• Force-field analysis

BUSINESS ROLES (DIVERSITY AND CONFLICT MANAGEMENT)

Businesses employ people who have different ways of doing things, which may lead to conflict. It is important that businesses identify diversity issues and find ways to deal with them. Businesses should be well informed about handling conflict in the workplace.

Write an essay on the following aspects:

• Discuss the benefits of a diverse work force.
• Suggest ways in which businesses may deal with language and age as diversity issues in the workplace.
• Explain the causes of conflict in the workplace.
• Advise businesses on how they should handle conflict in the workplace.

BUSINESS ENVIRONMENTS (LEGISLATION)

The Broad-Based Black Economic Empowerment Act (BBBEE), 2003 (Act 53 of 2003) (amended in 2013) was introduced to overcome the challenges of Black Economic Empowerment (BEE). Businesses are now compelled to comply with this Act.

You specialise in guiding businesses on the implementation of BBBEE. Write an essay on the following aspects:

• Distinguish between BEE and BBBEE.
• Evaluate the impact of BBBEE on businesses.
• Management control
• Enterprise and supplier development
• Advise businesses on penalties they could face for non-compliance with the BBBEE.

List of Business Studies Grade 12 Essays Exam Questions and Answers from previous years

Business management grade 12 question and answers online quizzes.

Revise all the topics under Business Management Grade 12 subject, using test quizzes based on the exam questions below:

• Quiz: Term 1: Macro Environment: Impact of Recent Legislations Quiz
• Quiz: Term 1: Human Resources Function
• Quiz: Term 1: Ethics and Professionalism
• Quiz: Term 1: Creative Thinking
• Quiz: Term 1: Macro Environment: Business Strategies
• Quiz: Term 2: Corporate Social Responsibility
• Quiz: Term 2: Human Rights, Inclusivity and Environmental Issues
• Quiz: Term 2: Team Performance Assessment, Conflict Management, and Problem-Solving
• Quiz: Term 2: Business Sectors and their Environments
• Quiz: Term 2: Leadership and Management
• Quiz: Term 2: Quality of Performance
• Quiz: Term 3: Investment – Securities
• Quiz: Term 3: Investment – Insurance
• Quiz: Term 3: Forms of Ownership
• Quiz: Term 3: Presentation and Data Response

Looking for something specific?

How to Write a Business Essay for Impactful Communication and Analysis

So, you've got a business essay coming up, and you're feeling a mix of excitement and a tad bit overwhelmed, right? Totally get it. Writing a business essay might sound boring, but trust me, it's a skill that's gonna come in handy when you're out there in the real world.

In this article, we're dishing out some awesome tips just for you if you have question on how to start a business essay. Think of it as your secret weapon to tackle those business essays like a pro. We'll keep it real, easy, and super practical – no fancy jargon or complicated theories. Let's dive into the world of business essay writing, where your words can make a big impact. In case you lack time or motivation to finish your assignment, use our business essay writing service to streamline the process.

What Is a Business Essay

Business essays are written pieces that explore and analyze various aspects of business-related topics, often focusing on management, marketing, finance, or entrepreneurship. They provide a platform for students and professionals to articulate their understanding of business concepts, theories, and real-world applications. Typically written in a formal and structured manner, a business essay requires critical thinking, research skills, and the ability to communicate ideas effectively. Whether delving into case studies, discussing industry trends, or evaluating business strategies, the essay aims to provide insights, draw conclusions, and contribute to a deeper understanding of the dynamic world of business.

How to Write an Introduction for a Business Essay

A business essay introduction sets the tone for the entire paper and captures the reader's attention. Here are some steps and tips to help you write an effective introduction for a business essay:

• Understand the Purpose of the Introduction

Clearly understand the purpose of your essay. Are you providing an overview of a business concept, analyzing a case study, or arguing a specific point? Tailor your introduction accordingly.

• Start with a Hook

Grab the reader's attention with a compelling hook. This could be a relevant quote, a surprising fact, a rhetorical question, or a thought-provoking statement. The goal is to make the reader want to continue reading.

• Provide Context

After the hook, provide some background or context related to the topic of your essay. Help the reader understand the significance and relevance of the subject matter in the business world.

• Thesis Statement

Clearly state your thesis or the main argument of your essay. This should be a concise and focused statement that outlines what the reader can expect from the rest of the essay. Make sure it is specific and reflects the purpose of your writing.

• Outline the Scope

Briefly outline the main points or areas that your essay will cover. This gives the reader a roadmap of what to expect and helps them understand the structure of your essay.

• Use Clear and Concise Language

Keep your introduction clear and concise. Avoid unnecessary jargon or complex language that might confuse the reader. Aim for clarity and precision.

• Be Relevant

Ensure that every sentence in your introduction is directly related to the topic of your essay. Avoid going off on tangents or providing excessive information that doesn't contribute to the main points.

• Consider the Tone

Choose a tone that is appropriate for your audience and the nature of your essay. Business essays can vary in tone, from formal and academic to more conversational, depending on the context.

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Business Essay Introduction Example

Here’s an example of an introduction for an essay titled “The Rise of E-commerce: Shaping the Future of Retail”:

The retail landscape is undergoing a seismic shift as e-commerce continues to redefine the way consumers shop. In this essay, we explore the profound implications of this digital transformation on traditional retail models and analyze the key strategies businesses are employing to thrive in this dynamic environment. From changing consumer behaviors to the strategic use of technology, the impact of e-commerce on the retail sector is undeniable, prompting businesses to adapt or face the risk of obsolescence.

How to Write a Business Essay

Working on a business essay might seem daunting, but it doesn't have to be. In this guide, we'll break down the process into simple steps to help you navigate through it smoothly. In this next section. We’ll be breaking down the essentials of drawing up a business essay from start to finish. From defining your main argument to structuring your points effectively, let's explore the key strategies that will set you on the path to success. 

Analyze the Prompt

Start by carefully reading and understanding the essay prompt. This involves breaking down the question to grasp what it's asking for, identifying the main topics, and recognizing any specific tasks or points to cover. This step helps you set the stage for a focused and relevant essay by ensuring you address all aspects mentioned in the prompt. You can hire a business essay writer to expedite the process if you want.

Think of a Thesis Statement

When writing a business essay, think of the thesis statement as the essay's compass. It should be a concise, strong sentence that lays out your main argument or viewpoint on the topic. Your thesis guides the entire essay, so make sure it's specific, debatable, and gives readers a clear idea of what to expect in your writing.

Create an Outline

We’ve already shared tips on how to write an introduction for a business essay, so let’s move on to the next stages. Organize your thoughts by outlining the main points and structure of your essay. This doesn't have to be too detailed; just a roadmap that helps you see how different ideas connect. An outline ensures a logical flow in your writing and prevents you from going off track. By the way, have you already picked business essay topics ? If not, here’s a list of great ideas you can use!

Provide Topic Background

Before diving into your main points, the business essay writing format implies giving your reader some context about the topic. Briefly introduce the key concepts, relevant facts, or historical background that will help readers understand the importance and relevance of your essay.

Write the Main Body

Start developing your essay by expanding on the main points outlined in your thesis. Each paragraph should focus on a specific idea or argument supported by evidence or examples. Be clear and concise, ensuring a smooth transition between paragraphs. It’s the most difficult part of the assignment, meaning you can use our college essay service to simplify it.

Write a Conclusion

Summarize your key points and conclusively restate your thesis. The conclusion should tie up the loose ends and leave a lasting impression on the reader. Avoid introducing new information but rather reinforce your main argument. For more details about how to write a conclusion for an essay , please refer to our guide.

Add a Bibliography

List all the sources you used in your research. Be meticulous about citing your references properly, following the chosen format (APA, MLA, etc.). This adds credibility to your essay and avoids plagiarism issues.

Edit and Proofread

As you’ve learned how to write a business essay, it’s time to master the art of self-revising. Review your essay for clarity, coherence, and grammatical errors. Editing ensures that your ideas flow smoothly, and proofreading catches any overlooked mistakes. It's a crucial step to polish your essay and present a professional piece of writing. Do you have another assignment on business management ? This guide will help you!

Choose the Writing Format

Reiterate the importance of selecting and adhering to the chosen writing format throughout the essay. Consistency in formatting, citations, and other style elements contributes to the overall professionalism of your work.

Business Essay Example

Business essay examples offer practical assistance to students tackling assignments by showcasing the application of essential writing principles in a real-world context. As a tangible reference, it demonstrates an effective essay structure and how to formulate a clear thesis statement and provide coherent arguments. By examining examples, students can glean insights into research techniques, proper citation practices, and overall essay organization, empowering them to approach their business assignments with increased confidence and proficiency.

Example 1: “The Impact of Technological Advancements on Modern Business Operations”

This essay explores the multifaceted impact of technology on operational efficiency, innovation, customer relations, and global connectivity. From integrating automation and artificial intelligence for streamlined processes to facilitating global expansion through digital platforms, technology emerges as a driving force shaping the success and sustainability of contemporary enterprises. While acknowledging the numerous benefits, the essay also highlights the challenges and ethical considerations inherent in adopting these technologies, emphasizing the need for businesses to navigate these complexities responsibly for long-term growth and competitiveness.

Example 2: “Sustainable Business Practices: A Strategic Imperative for Corporate Success”

This essay explores the pivotal role of sustainable business practices as a strategic imperative for corporate success in the contemporary entrepreneurship scene. Addressing environmental concerns, social consciousness, and economic viability, the essay delves into the multifaceted benefits of adopting sustainable approaches. It discusses how businesses can align profitability with responsible practices, emphasizing environmental stewardship, social impact, and community engagement. The essay underscores the importance of regulatory compliance and risk mitigation in business by examining the economic advantages and innovation opportunities arising from sustainable initiatives.

Final Considerations

Students engage in writing business essays to develop essential skills and knowledge crucial for success in the professional world. These essays serve as a platform for honing critical thinking, analytical, and communication skills, allowing students to articulate and analyze complex business concepts. Through the process of researching, organizing thoughts, and constructing coherent arguments, students gain a deeper understanding of business principles and practices. Business essays also cultivate the ability to synthesize information, evaluate various perspectives, and present well-reasoned conclusions. If you find with task troublesome, you can always tell us, ‘ write my research paper ,’ and one of our wordsmiths will fulfill the assignment quickly.

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How Many Paragraphs Does a Business Essay Have?

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BUSINESS STUDIES TOPIC BY TOPIC QUESTIONS AND ANSWERS

Business studies topic by topic questions and answers, you can download all the business studies questions and answers for all topics for form 1, form 2, form 3 and form 4., the list includes all questions with their answers. use  the links below. click on  a link to a specific material., warehousing q, warehousing ans, transport q, transport ans, the theory of the firm q, the theory of the firm ans, the office q, the office ans, the ledger q, the ledger ans, source documents and books of original entry q, source documents and books of original entry ans, satisfaction of human wants q, satisfaction of human wants ans, public finance q, public finance ans, production q, production ans, product promotion q, product promotion ans, product market q, population and employment q, population and employment ans, national income q, national income ans, money and banking ans, money and bankin q, managing a business q, managing a business ans, international trade q, international trade ans, insurance q, insurance ans, inroduction to business studies q, inroduction to business studies ans, inflation q, inflation ans, incomplete records q, incomplete records ans, home trade q, home trade ans, government and business q, government and business ans, forms of business units q, forms of business units ans, financial statements q, financial statements ans, enterpreneurship q, enterpreneurship ans, economic development and planning q, economic development and planning ans, determining the net worth of business q, determining the net worth of business ans, demand and supply q, demand and supply ans, communication q, communication ans, chain of distribution q, chain of distribution ans, cash book q, cash book ans, business and its environment q, business and its environment ans.

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BUSINESS STUDIES TOPIC BY TOPIC QUESTIONS AND ANSWERS COVERED INCLUDES;

• WAREHOUSING QUESTIONS
• WAREHOUSING ANSWERS
• TRANSPORT QUESTIONS
• TRANSPORT ANSWERS
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Insurance Law: Selecting a Topic & Writing Resources

• Selecting a Topic & Writing Resources
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Insurance Organizations & Websites

• CIPR Key Issues List List of hot topics compiled by the National Association of Insurance Commissioners. Links to a short summary of the topic and research reports and related links.
• NAIC Studies and Special Reports National Association of Insurance Commissioners white papers, research reports and articles on a variety of insurance issue.
• Insurance Information Institutes Issues Updates Background and recent developments on a multitude of insurance issues. Insurance Daily Report is also available on WestlawNext.
• Risk & Insurance Management Society See Resources tab for publications, standards and other information.
• IRMI Insights Much of the IRMI site requires a subscription but the issue updates on the "insights" link are free
• IRMI Expert Commentary Library of articles on a variety of insurance topics written by practitioners.
• National Conference of Insurance Legislators (NCOIL) Organization comprised of and working to support state legislators. Develops policy to avoid preemption of state insurance regulation by federal legislation. Link is to the NCOIL newsletter archive

Newsletters

Lexis Advance also offers numerous Mealey's Litigation Reporters dedicated to insurance issues. Browse by topic and review the secondary sources links to locate these titles.

• Coverage Opinions Bi-weekly electronic insurance coverage newsletter that reports and provides commentary/analysis on new judicial opinions that address numerous issues under commercial general liability and professional liability insurance policies. View the current issue and archived issues going back to the newsletter's start in October 2012. Subscriptions and access to archives is free. Edited by Randy Maniloff of White and Williams, LLP who contributes to Mealey's Insurance law report.
• California Insurance Law & Regulation Reporter (Westlaw) Monthly newsletter that offers case analysis, insurance department bulletins and other materials. 1996 - present.
• Insurance Litigation Reporter (Westlaw) Reports on important insurance cases from 1998 to present
• Journal of Insurance Fraud in America Published quarterly by the Coalition Against Insurance Fraud.
• Law360-Insurance Accessible from networked computers on campus. Also accessible via Lexis Advance under "Law360 Legal News"
• Westlaw Journal Insurance Coverage Weekly newsletter covering insurance litigation, legislative developments and industry news. 1996 - present.
• Westlaw Journal Insurance Bad Faith Covers court rulings and appeals on coverage disputes, claims handling, settlement acceptance and other topics involving alleged bad faith on the part of insurers and policyholders. 2005 - present.
• Catastrophic Loss: Mealey's Litigation Report (Lexis Advance) Browse current issue or search by keyword
• Emerging Insurance Disputes: Mealey's Litigation Report (Lexis Advance) Browse current issue or search by keyword
• Insurance Coverage Law Bulletin (Lexis Advance) ALM publication. Browse most recent articles, search by keyword or limit by jurisdiction and topic.
• Insurance Fraud: Mealey's Litigation Report (Lexis Advance) Browse most recent articles, search by keyword or limit by jurisdiction, topic, or date.

Setting Up Alerts

1. For a specific publication (such as Insurance Daily Briefing, Insurance Bad Faith newsletter etc):

• Click on "Alerts" link in upper left
• Click on "Create Alert" then on "Publication Alert" link
• Complete form naming your alert, selecting the publication that you wish, entering the email address where you want to receive the alert and other information.

2. For a specific search query: (ex. run search in "Insurance Law Reviews & Journals" for: drones & regulat!

• Run search and then click on bell symbol on right side of page to "Create Westclip Alert"
• Complete form, entering search terms, specifying publications to search and set up delivery preferences

Lexis Advance

1. For a specific publication (such as Emerging Insurance Disputes, Insurance Coverage law newsletter etc.)

• Browse --> Sources --> Search for a search or search by category/practice area 
• Click on publication name and select "create a publication alert" link
• Set up how long wish to receive them, how often and add email address for delivery
• Can also share alert with others

2. For a specific search query (ex. select Insurance Law as practice area then run search for "drones" & liability"

• Select source category, jurisdiction, practice area etc 
• Run search and further filter as desired
• Click on bell symbol to right of "results for" heading at the top of the page
• Add email address and delivery preferences 

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Set up alerts to run for a specific search query (notification of new issues of publications is not available for Bloomberg).

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• Look for "create search alert" link at bottom of Search Criteria box
• Select frequency of delivery and add your email address
• Alerts will be emailed and also saved to Bloomberg home screen under "Saved Searches & Alerts" tab

Research Management Systems

Citation management software allows you to track your sources as you use them rather than waiting until the end of a project to retype a separate bibliography or Table of Authorities. This software also auto formats your citations in Bluebook format. (You still need to REVIEW and EDIT the citations.It's not perfect but it can save time.) For more information, check out this guide:

• Research Management LibGuide

Westlaw Practitioner Insights for Insurance

Landing page for Insurance Law  on Westlaw. Accssible from the "Practice Areas" tab.

Features include:

• Insurance News from Reuters
• Insurance Analysis (articles taken from the WestlawNext Insurance Daily Briefing newsletter
• Featured Legal Filings section with links to complaints and other document filed in recent insurance cases
• Trending Companies List
• Tools & Resources box (links to other insurance news, dockets, regulatory guidance documents, Insurance Market Conduct Reports etc.)
• Browse Insurance Law
•  Links to statutes, cases, regs, briefs, court filings and other primary documents
• Also links to secondary materials including law reviews & forms
• Coverage Opinions Produced by the Insurance Law Coverage Opinion practice of Shapiro & Associates law firm. Sample opinions assessing insurance coverage in particular situations.
• Terms & Conditions Insurance Industry Blog Published by Insurance Information Institute. Archive is divided by date and topic for easy searching.
• Specialty Insurance Blog Focus on risk management and venture capital issues with an emphasis on entrepreneurship and professional liability.
• Point of Law (Insurance Category) Published by Center for Legal Policy at the Manhattan Institute. Reviews new case law, legislation, and insurance law publications.

Law Reviews

• Tort Trial & Insurance Practice Law Journal (Westlaw) ABA. 2003 - present
• Brief (Westlaw) ABA coverage of insurance issues. 1982 - present.
• Connecticut Insurance Law Journal (Westlaw) 1995 - present
• Fidelity Law Journal (Westlaw) 2003 - present

Books on Writing

• User's Guide to the Bluebook (20th edition) by Alan L. Dworsky Call Number: Hornbook Reserve: KF245 .D853 2015 ISBN: 0837740177 Publication Date: 2015

Below are a few books on writing. For additional suggestions, consult with a Reference Librarian or check the library catalog .

Writing Ethics and Other Writing Resources

• Villanova Law Academic Code of Conduct

• Writing Resources from Villanova Law's Writing Specialist

Lexis for Microsoft Office

Lexis for Microsoft Office allows you to easily access Lexis from within Microsoft Word. Features include tools for cite checking, citation formating, and creation of Table of Authorities. To use Lexis for Microsoft Office you must DOWNLOAD the latest version of the software. Logon to Lexis Advance and click PRon Apps & Tools tab for the download link under "Law Practice Resources."

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More From Forbes

The cfo's guide to corporate insurance: why even experts need a refresher.

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Jen Scales—Connecting & Protecting C-Suite Executives. SVP— Gallagher .

Knowledge is power, plain and simple. Although we all know that understanding the ins and outs of our company's corporate insurance coverage is essential, we shy away from asking questions, fearing we should already know the answers.

Insurance often gets a bad rap for being too complex and unexciting. But behind the pages and pages of policies lies a powerful suite of protections and valuable corporate benefits that can be easily overlooked.

Knowledge: Your Ultimate Asset

By equipping yourself with knowledge, you'll have the confidence to ask questions and gain an understanding of the coverage that's in place—from your various policies and risk management strategies to emerging industry trends. With this knowledge, you can turn what feels like "just another expense" into a critical part of your business success.

Ignorance is bliss in some situations, but when it comes to the stability and future-proofing of your business, knowledge truly is power. Staying informed and educated about industry trends and technological advancements is crucial. Understanding these elements allows you to make strategic decisions that protect your business against potential threats while positioning it for long-term growth and success.

By actively seeking out information, you can identify emerging opportunities and anticipate and adapt to changes faster than your competitors who may be uninformed. This proactive approach can lead to a more resilient business model capable of withstanding economic fluctuations and unforeseen challenges.

Here are three essential insights to guide you through the intricacies of corporate insurance. While future articles will explore specific coverage lines in greater detail, I want to establish a solid foundation of the fundamentals.

Three Essential Insights On Corporate Protection

Insurance is always changing..

Just like the business world, the insurance market constantly evolves. Rates, premiums and even the companies offering coverage can fluctuate. For instance, I counsel my clients and be sure they are aware of the recent increase of new insurers in the Directors and Officers liability market, which has led to substantial premium rate reductions for many companies. Have you reviewed your D&O policy to be sure your rates align with these shifts? Staying informed of these changes is crucial.

By being proactive, you can ensure your business has the right coverage and premium rates to handle potential risks.

Your risk profile evolves as your business does.

Refrain from assuming your insurance coverage remains static. A prime example is the transition from private to public company. I work with many companies as they make this important transition. Public companies face intensified scrutiny from the Securities and Exchange Commission and a broader shareholder base, increasing the potential for lawsuits. D&O insurance is essential to help mitigate risk. Think of it as a safety net for your company's management.

Proactive insurance management is crucial. Waiting for a claim to reassess coverage can leave you vulnerable. Regular policy reviews, ideally quarterly, ensure your protection aligns with your business's dynamic landscape.

Insurance is more than just a safety net.

Insurance goes beyond financial protection after a problem occurs. It's a powerful risk management tool. We see on the news the increase in cyber breaches and heightened cyber threats facing today's companies. With an increasing amount of sensitive data stored digitally, the risk of a data breach is substantial. Cyber liability insurance can protect your company from the financial fallout of a data breach, including legal fees, public relations costs and potential damages.

With companies in the technology space, CFOs can transfer this risk of a cyber threat to allow them to focus on business growth without the constant worry of catastrophic financial loss.

Moreover, insurance often provides access to expert advice and resources to help prevent incidents before they occur; i.e., many cyber insurers offer comprehensive training as part of their policies to increase clients' cybersecurity defenses and mitigate the risk of attacks. This has been a game changer for the CFOs in my network.

Build Confidence Through Knowledge

By incorporating these insights, you will build a streamlined business while adding an extra layer of protection. With the right coverage, you'll have peace of mind, which will allow you to focus on strategic growth initiatives knowing that your company is prepared to handle unexpected setbacks.

Imagine navigating your insurance policies and risk management strategy with complete confidence. Ask any question and understand every policy detail—that's the power I want to put in your hands. Because while insurance and risk management might seem complex, with the proper knowledge, they become the cornerstones of your company's success.

The information provided here is not legal, investment, tax or financial advice. You should consult with a licensed professional for advice concerning your specific situation.

Forbes Finance Council is an invitation-only organization for executives in successful accounting, financial planning and wealth management firms. Do I qualify?

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The FDIC is a preeminent banking research institution. The FDIC established the Center for Financial Research to promote research on topics important to the FDIC's mission including deposit insurance, bank supervision, making large and complex financial institutions resolvable, and resolution of failed financial institutions. The Center has an active seminar series and maintains contacts with preeminent scholars in the industry, academics, and the public sector. Its research follows banking industry developments, risk measurement and management methods, regulatory policy, and related topics. The Center sponsors an annual Bank Research Conference, hosts short-term visiting scholars, and manages a Visiting Scholars Program. The work of our researchers helps the FDIC maintain a safe, sound, and vibrant banking sector.

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Career opportunities are available for interns, fellowships, and economists.

For additional information about the FDIC Center for Financial Research, please contact us .

Have a Paper You Want to Present at the FDIC?

The FDIC offers a seminar series to present interesting and informative papers. If you would like to present a paper, please e-mail your paper and available presentation dates to [email protected] .

Presenters will be reimbursed for their travel expenses.

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Last Updated: May 20, 2024

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New Relic is named a Leader in the 2024 Gartner® Magic Quadrant™ for Observability Platforms for the 12th Consecutive Time

New relic has been named a leader in every report since 2012.

By Katrina Wong, Chief Marketing Officer

We are honored that New Relic has been named a Leader in the 2024 Gartner® Magic Quadrant™ for Observability Platforms . We are the only observability company to receive recognition as a Leader each time since 2012. This demonstrates our commitment to helping our customers like Domino’s , Mercado Libre , and Forbes Media stay consistently ahead in their respective markets.

Proliferation of monitoring tools is driving operational complexities

Businesses are facing growing technological and operational complexity due to the proliferation of specialized monitoring tools and distributed applications. This often leads to inefficiencies, miscommunication, and delayed responses to issues, negatively impacting customer experiences and revenue. We address these challenges with our unified observability platform, giving businesses a holistic view of their technology landscape and deep context for troubleshooting. We help businesses streamline their monitoring processes, quickly identify and address issues, and make data-driven decisions. This simplifies operations and enhances the ability to deliver consistent, high-quality customer experiences and drive innovation.

Innovating ahead of the market with OTel, AI, and DEM 

Innovation is at the core of our success. In the last few months, we have maintained our long track record of innovation by collaborating with NVIDIA to provide New Relic AI monitoring for applications built with NVIDIA NIM, launching the first integrated, AI-driven DEM solution and New Relic Pathpoint , and deepening our support for OpenTelemetry . These innovations provide businesses of all sizes the latest advancements needed to optimize the performance and reliability of digital applications. We are delivering on our mission of making observability accessible to every business with the industry’s only true consumption pricing and natural language querying and analytics powered by its in-platform generative AI assistant, New Relic AI . 

Recommended by 90% of customers as their platform of choice

We are one of the most-rated observability vendors by customers on the Gartner Peer Insights™ platform. We have an overall rating of 4.5 stars out of 5.0 based on 1389 verified customers, with 90% willingness to recommend the platform. A high percentage (63%) of verified reviewers rate New Relic 5.0 stars for observability. Our customers recognize us for our ability to:  

• Ensure system resilience and up to 100% uptime : “New Relic has been there for us through the ins and outs of sunsetting zabbix and the noise that it has brought, and replacing it with a holistic, data-driven observability and incident management policy, I cannot speak highly enough of how much they helped us along the road to a successful implementation, and it's led to quarters at 100% uptime so far!" — Staff Platform Engineer - Healthcare and Biotech
• Deliver superior customer experiences : “Our organization's observability journey centered in customer experience from zero to hero: New Relic as [a] vendor helped our company to establish true O11y." — Principal Software Engineer - Travel & Hospitality
• Provide deeper insights via single view of both apps and infrastructure : “New Relic provides a holistic solution that goes above just APM monitoring. It provides deep insights into the health, performance, and behavior of applications and infrastructure. As a user, I like how much I can get from one tool, and it reduces dependency on multiple tooling to get reporting and metrics. The APM feature provides real-time data and insights and helps us to track down bottlenecks and optimize code with the help of the granular data provided." — Sr Solution Architect - IT Services
• Maximize value with a flexible consumption model : “The evolution of their pricing model has been noteworthy, transitioning to a more flexible consumption-style approach, enabling us to pay for the precise services utilized. The implementation of New Relic surpassed our initial expectations, streamlining the execution of our observability project and accelerating our project timeline. A pivotal factor that significantly enriched our overall experience was the unwavering dedication and transparency demonstrated by our New Relic Senior Account Executives. Their tireless efforts in developing precise cost projections, facilitating conversations with subject matter experts, championing our cause during contract negotiations, and consistently maintaining open lines of communication showcased their commitment to our success.” — Senior Manager, Infrastructure Engineering - Hardware

Thank you to our customers and partners who trust New Relic to monitor, secure, and optimize their stack. We’re honored to be the sole vendor recognized as a Leader in the Magic Quadrant for observability platforms for 12 years running, and remain committed to eliminating disruptions to your digital enterprise so that your business can grow.

• Download your copy of the Gartner® Magic Quadrant™ for Observability Platforms.
• Quantify the benefits of observability to your business with our Value Calculator.

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Katrina is New Relic’s Chief Marketing Officer. She brings 20+ years of experience in marketing, go-to-market, and community development to New Relic.

Katrina is an AI-driven marketer with a passion for reaching developer communities. She has a proven track record for helping companies through stages of substantial growth and launching products in new markets. She has also created award-winning integrated campaigns with data storytelling. Katrina most recently served as Divisional CMO and VP Marketing at Twilio Segment. She has also held marketing and go-to-market leadership positions at Hired, Zuora, Salesforce, and SAP. She started her career as a management consultant for PricewaterhouseCoopers.

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The views expressed on this blog are those of the author and do not necessarily reflect the views of New Relic. Any solutions offered by the author are environment-specific and not part of the commercial solutions or support offered by New Relic. Please join us exclusively at the Explorers Hub ( discuss.newrelic.com ) for questions and support related to this blog post. This blog may contain links to content on third-party sites. By providing such links, New Relic does not adopt, guarantee, approve or endorse the information, views or products available on such sites.

Gartner, Magic Quadrant for Observability Platforms, Gregg Siegfried, Padraig Byrne, Mrudula Bangera, Matt Crossley, August 12, 2024.

GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, and MAGIC QUADRANT is a registered trademark of Gartner, Inc. and/or its affiliates and are used herein with permission. All rights reserved.

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

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Where Tim Walz Stands on the Issues

As governor of Minnesota, he has enacted policies to secure abortion protections, provide free meals for schoolchildren, allow recreational marijuana and set renewable energy goals.

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By Maggie Astor

• Published Aug. 6, 2024 Updated Aug. 16, 2024

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Gov. Tim Walz of Minnesota, the newly announced running mate to Vice President Kamala Harris, has worked with his state’s Democratic-controlled Legislature to enact an ambitious agenda of liberal policies: free college tuition for low-income students, free meals for schoolchildren, legal recreational marijuana and protections for transgender people.

“You don’t win elections to bank political capital,” Mr. Walz wrote last year about his approach to governing. “You win elections to burn political capital and improve lives.”

Republicans have slammed these policies as big-government liberalism and accused Mr. Walz of taking a hard left turn since he represented a politically divided district in Congress years ago.

Here is an overview of where Mr. Walz stands on some key issues.

Mr. Walz signed a bill last year that guaranteed Minnesotans a “fundamental right to make autonomous decisions” about reproductive health care on issues such as abortion, contraception and fertility treatments.

Abortion was already protected by a Minnesota Supreme Court decision, but the new law guarded against a future court reversing that precedent as the U.S. Supreme Court did with Roe v. Wade, and Mr. Walz said this year that he was also open to an amendment to the state’s Constitution that would codify abortion rights.

Another bill he signed legally shields patients, and their medical providers, if they receive an abortion in Minnesota after traveling from a state where abortion is banned.

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