Insurance

Introduction

“Insurance is a way of protecting against these financial losses”.“General insurance or non-life insurance policies, including automobile and homeowners policies, provide payments depending on the loss from a particular financial event”. Anyone who owns an asset can buy insurance to protect it against losses due to fire or theft and so on. Each one of us can insure our and our dependents’ health and well being through hospitalization and personal accident policies. In this report we tried to show that how general insurance business operates in Bangladesh &how important it is for economy & what types of problem it faces in our country

Objective of the Study

Primary objective

The main objective of the study is to know how the insurance business works in our country.

Secondary objective

:The case study has the following objectives:

To know about the insurance company (Phoenix Insurance Company Ltd.)

How it works in this country & Corporate social responsibility (CSR)

To know about general insurance & its classification

Problem behind this industry especially this co. & future plan of this

Scope

There were huge scopes to work in the area of this Assignment. Considering the dead line,and exposure of the paper has been wide-ranging. The study “

General Insurance Businessin Bangladesh

” has covered overall scenario of insurance industry of Bangladesh. It hasmeasured the living standard of mass people. We have a chance to work on the financialsector used in modern economic world. By doing the assignment, we are able to know thatthe importance of insurance business in the economy. In the assignment we have showed howthe insurance institution (Phoenix Insurance Company Ltd) operates in Bangladesh.

Insurance

Insurance is a co-operative device to spread the loss caused by a particular risk over a numberof persons, who are exposed to it and who agree to insure themselves against the risk.Insurance is not a new idea or proposition to the people of...