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Insurance Theory and Practice
This book provides a comprehensive overview of the theory, functioning, management and legal background of the insurance industry. Written in accessible, non-technical style, Insurance Theory and Practice begins with an examination of the insurance concept, its guiding principles and legal rules before moving on to an analysis of the market, its players and their roles and relationships.
The model is the UK insurance market which is globally recognized and forms the basis of the insurance system in a range of countries in the Middle East, Africa and the Caribbean as well as Australia and Canada. The book covers the underlying ideas behind insurance transactions, together with the legal and financial principles that permit these concepts to function in the real world.
Key issues considered
the role of the constituent parts of the insurance marketthe operation of both life and general insurers with special reference to the operation of the Lloyd’s marketthe nature and function of reinsurers, brokers and loss adjustersthe influence of government, both in terms of market regulation and consumer protectionalternatives to the established private sector insurers, such as government schemes, Islamic insurance and alternative risk financing.
The model is the UK insurance market which is globally recognized and forms the basis of the insurance system in a range of countries in the Middle East, Africa and the Caribbean as well as Australia and Canada. The book covers the underlying ideas behind insurance transactions, together with the legal and financial principles that permit these concepts to function in the real world.
Key issues considered
the role of the constituent parts of the insurance marketthe operation of both life and general insurers with special reference to the operation of the Lloyd’s marketthe nature and function of reinsurers, brokers and loss adjustersthe influence of government, both in terms of market regulation and consumer protectionalternatives to the established private sector insurers, such as government schemes, Islamic insurance and alternative risk financing.
340 pages, Kindle Edition
First published May 18, 2010
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Displaying 1 - 2 of 2 reviews
August 18, 2019
Concise and well written, good chapters on risk transfer (spreading), legal principles, Lloyd's market, reinsurance, claims handling, life assurance and pensions. Policyholder and third party protection not of such interest to me and the author covers Islamic insurance in detail which I skipped.
Very good overview of the insurance industry, readable for general interest or a practitioner.
Very good overview of the insurance industry, readable for general interest or a practitioner.
August 12, 2025
This is a very good introduction to insurance, but a bit outdated now as the law changed significantly with the passing of the Insurance Act 2015. If there was an updated second edition I would buy it immediately.
Displaying 1 - 2 of 2 reviews