PowerPoint Presentation

Insurance is a necessity बीमा सुरक्षा आवश्यक है.

T he financial sector intermediates. It channels money from savers to borrowers, and it matches those who want to lower risk with those willing to take on the risk. The financial services sector consists of institutions that offer insurance, banking, securities trading, investment, wealth, asset management services..

Insurance is an important financial service that offers protection against death or injury (e.g., life, accident, disability, health insurance), against property loss or damage (e.g., homeowners insurance, motor car insurance), or against liability or lawsuits. The stability of the insurance sector is attributed to a wide range of microeconomic and institutional performance parameters. Sound macroeconomic and structural policies are essential for insurance system stability..

Insurance helps economic growth & development in many ways. Insurance encourages risk taking for development. It facilitates trade and commerce by insuring businesses against unforeseen liabilities. Many a good business ventures would not have gone ahead & seen the light of the day, but for insurance support. Funds of insurance companies are used for infrastructure development. Insurance acts as the catalyst & facilitator that helps economies to function smoothly..

Multiple regulators regulate the Indian financial sector. The regulators are - Reserve Bank of India (RBI) for banks, Securities & Exchanges Board of India (SEBI) for capital markets, Insurance Regulatory & Development Authority of India (IRDAI) for insurance and Pensions Fund Regulatory & Development Authority of India (PFRDAI) for pension business. International Financial Services Centres Authority (IFSCA) is a single regulator for all financial services offered in International Financial Services Centres..