The course will enable students to:
- To enable the student to understand the need, importance and basic concepts of insurance.
- To enable the students to understand the functioning of insurance business.
- To gain the knowledge of different insurance policies.
- To gain the knowledge of different terminology used in insurance business.
- Rules and regulations relating to insurance companies in Oman.
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Enable the students to understands:
- The Conceptual Frame work:
- What is Insurance
- Brief History of Insurance
- Perils and Risks
- Importance of benefits of insurance
- Principles of insurance
- The Business of Insurance:
- Premium and bonus calculations
- Claim and settlements
- Managing Insurance business
- Final account of insurance companies
- Role of Economic Development
- Insurance Terminologies:
- Both Life and Non-Life insurance
- Insurance Products: Life and Non-Life
- Endowment, Annuities and other life insurance policies
- Fire, marine, health and other type of non-life policies
- Insurance Companies Law:
- The Insurance Companies Law in Oman, Royal decree No. 12/79
- Role of Capital Market Authority in Insurance industries.
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