Background of company
Transcript: Nailah bt Aziz 2012830842 Nurul Amira Nazifah bt Sulaini 2012292078 Ainaa Farhanah bt Saiful Azhan 2012467438 Nur Zawani bt Ishak 2012646794 It is a well known fact that the fire causes huge losses every year. The individual owner by taking fire insurance can prevent the fire waste to some extent The insurer acts as a middle man between all the members of the society who are exposed to the fire risk on the one hand and the members who will be the actual victims of the fire losses on the other. The insurer charges the premium from all the insured members and makes good the losses when they occur to any of them. The system of fire insurance cannot save the society from the economic loss to the community to the extent of the property lost by fire, but it compensates someone and this saves him from a ruinous loss, at the cost of group of some others. Prudential has a long history in Asia, having maintained a presence in the region for over eighty years. In 1923, Prudential launched its first overseas life operation in Calcutta, India. General Insurance agencies were appointed throughout the commonwealth during 1920s, and their insurance business expanded soon after in Malaysia (1924), Singapore (1931) and Hong Kong (1964). In 1994, Prudential Corporation Asia, our Asia Regional Head Office, was established in Hong Kong to expand our operations beyond Malaysia, Singapore and Hong Kong. Today, they are one of Asia's leading life insurers and one of the region's largest asset management companies. With their significant portfolio of businesses, multi-channel distribution capabilities, strong strategic partnerships, customer-centric products and services, and considerable brand equity, Prudential maintains an unrivalled position for continued growth in Asia. Prudential fire insurance Disadvantages of fire insurance Background of company Fire insurance means insurance against any loss caused by fire. Section 2(61 of the Insurance Act defines fire insurance as follows: “Fire insurance business means the business of effecting, otherwise than incidentally to some other class of business, contracts of insurance against loss by or incidental to fire or other occurrence customarily included among the risks insured against in fire insurance policies.” Functions of fire insurance design by Dóri Sirály for Prezi Conclusion, fire insurance is important because it help prevent from any losses that may happens. Advantages of fire insurance fire insurance is worthwhile at times when your home burns straight down and you're week within preventing it. Yet, with hearth insurance you're entirely peaceful that your particular insurance company will assist you to modernize as well as build-up your home again. fire insurance helps you by re-building your property by way of reconstruction as well as renovation function plus by way of providing you with a new settlement which you can use in which stay another position while your home will be re-build. It helps in offering a fiscal safety once you require it, weather it be as a result of threat of for a fireplace episode surely you will remain protected. Characteristics of Fire Insurance Definition of fire insurance: contract of indemnity contract of good faith more for one year only can be renewed cover specific properties for a specified period insurable interest insurer is entitled to contribution cover losses caused proximately by fire Recommendation The price which can be normally linked within buying as well as investing in a hearth insurance coverage is commonly more since it is a unique coverage. Yet, although you may pay the policy payments, all together and then that will be also charge a greater price. could be the buying means of insurance. Sometimes, it has been observed that individuals have to go through huge discomfort as well as pressure to achieve virtually any insurance of such variety. For the single insurance they could have to work among strategies to guarantee proper along with the best insurance coverage.
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