Abstract

GLOBALIZATION OF INSURANCE SECTOR: AN OVERVIEW

Dr. P. Sujatha

Volume: 8 Issue: 2 2018

Abstract:

Globalization of Indian insurance sector means entry of private players resulting positive growth of the sector. It helps in providing Employment opportunities leading to capital formation. Among the service sector it is fastest progressing and expanding sector. With increased complexity in the business and life style of man, the need for insurance is expanding and all categories of people accepted insurance as an essential cover of life or the business. Fast changing modern economy, highly competitive markets, changing technology involves several risks. Risk has become a common factor to individuals and institutions. Every risk results in loss. The loss may be simple or it may lead to major loss of wealth and may also be a loss of life. Insurance sector provides protection against risk and insecurity .This study is giving detailed information about the types, importance, benefits of this sector. The study aims at Globalization of insurance sector, as its help in country’s development. Its highlights the recommendations of Malhotra Committee report.

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References

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