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Business liability insurance plays the vital role in the business. This is one of the insurance which is used by the business man and other. Business liability contract include the following point such as liability of a landlord, building proprietor, liability to members of the public resulting from faulty products; liability of contractors or manufacturers; and comprehensive liability. The latter contract is designed to be broad enough to encompass almost any type of business liability, including automobiles. There has been increasing use of coverage for liability stemming from defective products, because some court judgments have awarded huge compensations. Business liability contracts may be written to cover loss even if the act that produced the claim was not accidental. The only requirement is that the result of the act be accidental or unintended
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Guaranteed gave by the purchase of real estate against loss or damage form undiscovered defects in title to property that purchase is known as title insurance.The need for title insurance arises from the fact that real estate transactions are complex and technical. Any legal error, no matter how detailed or minute, may cause a defect in the title that impairs its marketability. Examples of such defects are forgeries, invalid or undiscovered wills, defective probate proceedings, or transfers of property by persons lacking full legal capacity to contract.
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Aviation insurance is the insurance which normally covers physical damage to the aircraft. This type of insurance provides compensation and bears all loss when the accident takes place. All the damage which occurs in accident takes by the aviation insurance company.
Nowadays air transportation is become a very popular means of transport. Sometimes accident may take place on the air and loss of plane and passenger's tales place. So, insurance which is made to compensate the loss incurred due to the risk of aviation is known as aviation insurance.
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Business property insurance is the protection given to the business as there is many uncertain things can be happen which can destroy the valuable assets and document. By the use of business property insurance we can minimize the risk. This insurance gives full supports and provides the sum of amount which is loss. Business property insurance protects your business, from a minor hiccup to a major financial loss. Business property insurance is one of the most important investments ensuring the future of your business.
Insurance for business property follows a pattern that is similar in many ways to the one for individual property. A commonly used form is the “building and personal property coverage form” (BPP). This form permits a business owner to cover in one policy the buildings, fixtures, machinery and equipment, and personal property used in business and the personal property of others for which the business owner is responsible. Coverage also can be extended to insure newly acquired property, property on newly acquired premises, valuable papers and records, property temporarily off the business premises, and outdoor property such as fences, signs, and antennas.
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Merchandise credit insurance is one kind of credit insurance which is effective in many sector. Credit insurance for domestic buyers and sellers is available in the many European countries. This insurance is sold only to wholesalers, manufacturers and certain service agencies, not to retailers. The policy is designed primarily to meet the needs of those sellers whose business is concentrated on a few buyers. The insurance is designed to enable the seller to recover a certain percentage of losses from insolvency of the debtor, but the contracts list a number of conditions under which the creditor may initiate a claim regardless of the question of insolvency. This kind of insurance is mostly useful to the manufacturers, wholesalers and agencies.
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Credit insurance is the special kind of insurance which is useful not only for the large companies but equally significance to small companies. The use of credit in modern societies is so various and widely distributed that many types of insurance have grown up to cover some of the risks involved. To give a specific examples of these risks, are the risk of loss of savings from bank failure; the risk of bad debts from death, insolvency and disability; the risk attaching to home-loan debts when installments are not paid for various reasons, resulting in foreclosure with subsequent loss to the creditor; and the risk of loss from export credit because of war, currency restrictions and so on. To measure this kind of all risks this credit insurance is used.
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Under group life insurance an employer signs a master contract with the insurance company outlining the provisions of the plan. Each employee receives a certificate that provides evidence of participation in the plan. The amount of insurance depends on the employee's salary usually the employer pays a portion of the premium and the employee pays the rest, but sometimes the employer pays the entire cost of the plan.
A major advantage of group life insurance to an employee is that usually coverage may be obtained regardless of health. The premiums on group life insurance are considerably less than on comparable individual policies, mainly because the selling and administrative costs are minimal.
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Groups have always been important in the insurance field as it is helpful to the society and nation. In the 20th century private insurance companies have written increasingly large amounts of group insurance, particularly in life insurance, health insurance, and annuities.
Group insurance is widely used throughout the world, both in the form of private plans and as social insurance plans. Group insurance has been especially popular in Japan where many employees serve a company for life. All Japanese life insurance companies offer group life insurance. Thus Group insurance is a health care coverage plan in which members are included under one 'master policy' owned by their employers. This type of insurance is provided by the big organization and company to their worker or employees for their security and safety.
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To secure and give protection of our assets, we should purchase theft insurance. This insurance helps or supports the insured .therefore he/she has no fear of there loss of goods and their assets. Unfortunately in our society much crime is always occurs one of them is theft. We simply know that theft is the act of stealing. There are mainly three kinds of insurance contracts. This is for robbery, burglary and other theft.
Furthermore this type of insurance is useful in the business firm. In firm there is an uncertain activity carry on which is not favorable to the firm. Some employees can steal money and assets of the firm. To secure this type of situation the firm should purchase theft insurance. So that firm can receive the loss money and property from the theft insurance company.
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This type of insurance is purchased by the employers of the companies to the employees of that company for their benefit. This insurance is mostly used by the big company because the company can not provide treatment to each and every employees of the company when there is accident occur so that company purchases insurance for them. Like general liability and medical payment liability insurance, it pays for medical treatment required by employees of a company according to a state-regulated schedule of benefits.
This insurance can be purchased from general insurance who charge employers a premium based on their safety records. The object is to prevent employees from the need to sue their employers if they are injured and to compensate workers for losses from accidents on the job. Some states provide for wage loss workers' compensation, which eliminates specific benefits but pays workers any salary or wages lost from injuries. Such insurance tends to reduce the premium.
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As we know there are many type of insurance. Marine insurance is one of them. It is believe that marine insurance is the oldest form of insurance. It is an attempt to minimize the loss and damage due to perils of the sea in course of sea transportation. Marine insurance is the agreement between insurer and insured with certain rules and regulation.
Marine insurance is the contract in which the insurance company promise to pay the sum of amount when there is loss due to the sea in course of sea transportation. Marine insurance is the agreement where the insurer undertakes to indemnify the insured and to the extent they agreed against marine losses.
Marine insurance covers a large number of risks including sinking, burning of ship, standing or going astray of the ship, collision of ship, accident., explosion, stormy winds causing losses to the ship and cargo and many other perils of the sea. Thus marine insurance is useful to the business to get compensation from the insurance company when there is loss or damage of property due to perils of the sea.
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This type of insurance is important to various companies. The company may be unable to pay compensate to all the worker or employees so that company purchase the insurance for them. Sometime, the employee of any company might be unable to generate income or dies, in such cases insurance compensate the losses which is known as employers’ liability insurance.
Amount of compensation is to be made by the owner of company as per the agreement made by labour union company or as per the provision of exiting rules and regulation of country but the owner may not be ready to pay such amount so he/she has to purchase insurance of workers or employees. This type of insurance gives the security to the employees and there family. If the employees dies than the insurance company provide compensate to the employee’s relative or family member.
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Homeowners' insurance is a combination offering both property and liability coverage. Usually it includes protection for a person's home, any other buildings on the property, and for the buildings' contents and personal belongings except automobiles and pets.
The policy can be written to include the property of guests. If disaster strikes, homeowners' insurance usually pays a family's living expenses until they get settled at home once again. Homeowners' policies include two kinds of liability insurance. General liability coverage protects homeowners from losses from lawsuits. Medical payment coverage pays for medical treatment of people injured on the insured property.
Although homeowners' insurance generally does not cover such perils as flood, earthquake, or volcanic eruption, the added coverage is sometimes available in areas where it is needed and can be added for an additional premium. Thus this type of insurance is also important for people. Homeowner insurance is the contract in which the insurance company promise to pay the full amount to the insured people.
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It is the complicated insurance which is the type of the insurance. IT covered the losses that occur in the accident between two or more vehicles. Automobile insurance is the most complicated kind of insurance purchased by individuals. It combines several kinds of property and liability coverage. The standard automobile policy includes collision insurance and comprehensive insurance. It covered the property damages that occur when an automobile is damaged by something other than another vehicle. It also covered property damage to a car when it is struck by another vehicle.
Automobile insurance also includes a variety of liability coverage, including general liability and medical payment insurance. The automobile policy, however, covers liabilities that occur when an uninsured motorist is involved in an accident with an insured driver and creates liabilities for both. Property damage liability insurance gives the amount that he/she damage to other people's property caused by the insured automobile.
Automobile insurance charge the premium base on the condition of the accident occur and it review the classes of drivers and their safety records. Generally drivers who have had accidents pay more for automobile insurance than do drivers who have had none. Thus it is useful for the people whose job is driving. It secures the property that damage or destroys by the uncertain accident in future. Insurance company compensates the loss of goods and amount for the death of passenger’s and loss on vehicle separately. Automobile insurance covered all the losses that occur when there are accidents between two or more vehicles which are insured.
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People purchase verities of insurance for there family and for themselves to protect from the uncertain incident. Therefore people purchase different type of insurance such as car insurance, life insurance, motorcycle insurance, fire insurance and other. This insurance provide sum of amount which is loss by the certain activities. They have there own importance.
Motorcycle insurance is also the one type of insurance which is similar to the automobile insurance. Motorcycle insurance covered the losses that occur in the accident. People purchase motorcycle insurance for there safety and security and to provide amount that he/she damage the vehicles. . It covered the property damages that occur when a motorcycle is damaged by something other than another vehicle. It also covered property damage to a motorcycle when it is struck by another vehicle.
Motorcycle insurance charge the premium base on the condition of the accident occur and it review the classes of drivers and their safety records. Motorcycle insurance is the contract in which the insurance company promise to pay the sun of amount which is loss in accident between vehicles. There must be one insured motorcycle. It secures the property that damage or destroys by the uncertain accident in future.
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Health insurance is same as medical insurance. This insurance motive is to give security and provide treatment to the insured person. The purpose of health insurance is to provide protection against loss of income and to cover the expenses of hospitalization and some of its associated costs. Accident insurance covers sudden and unexpected injuries, while sickness insurance applies to illness or disease. There are policies that cover accidents only, while normal health insurance covers accidents as well as illness.
Health insurance policies frequently carry a deductible clause. This means that the owner of the insurance policy or policyholder is required to pay the first part of his or her expenses, usually a nominal amount, before the insurer makes any payments. Deductibles are included in automobile and property insurance as well, to relieve the insurer from having to pay frequent, small claims.
Health insurance policies are issued by a variety of companies. Some are independent profit-making insurers; others are fraternal nonprofit societies. One of the best-known plans in the United States was developed by the Blue Cross–Blue Shield companies. These are nonprofit associations, usually sponsored by physicians through their medical societies. Thus it is insurance which is use to give the complete protection over uncertain accident and from any obstacle. In this insurance, insured person is getting advantage of having good care from the insurance company
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Fire insurance is the insurance which provide the security of the property and assets which is losses by the fire. This insurance is mostly use by the factory, industry and manufacture company. There are many risks of fire in factory and other sector, so that to measure this fire insurance is purchase by business man. Fire insurance is a measure to provide financial security against the risk of fire. The necessity of fire insurance was left for the first time in England in 1666 when one-third of the London was destroying by fire.
Fire insurance is the contract in which the insurance company promise to pay a sum of money due to the loss by fire to the property and assets during stipulated time on the consideration of a premium amount paid by the insured people. If there are any uncertain fire take place and damage the property of the insured then the insurance company first analysis the condition and provide the amount which is loss by fire. This contract dose not help on controlling fire but it is the promise to compensate the loss by fire.
Thus, fire insurance is taken by the individual and business to safeguard from the loss of property due to fire. Generally the owner of cinema house, residential house etc. takes fire insurance so that they can get compensation if there is any loss to them due to fire. Furthermore it is helpful to promote the people to invest the amount in business sector and other sector.
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Medical insurance is also the type of insurance. This type of insurance is done to get the medical treatment in the old age, because there is possibility that they can not earn the money in the old age. Medical insurance is the way of protecting the life in the future.
Medical insurance pays the costs of hospitalization and physicians' fees for insured individuals who are injured or become ill. It is unlike medical payment liability insurance in that the place where an injury occurs or an illness begins is not involved. Coverage usually includes emergency treatment, surgery, long-term care, and sometimes dental and vision care.
Medical insurance plays according to share-the-risk rules. The premiums paid by those people who remain healthy provide the money to treat those who are ill. The cost of individual health insurance is very high, and many individuals do not purchase this insurance for themselves. Most medical insurance is purchased in group policies by employers for their employees. Employees may contribute to the premium, or they may receive the insurance as an extra benefit
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Insurance is the way of giving security to the person and his/her property. It is the contract to indemnify losses occurred due to any particular risk, in consideration of cash payment. It provides financial protection against any risk there are many type of insurance. They are as follows
• Endowment life insurance
The endowment policy is issued for a fixed period of time for example 15 years, 20 years etc. The premium is payable during that period only. IT is very popular because it makes the provision for the security of family as well as livelihood in the old age.
• Whole life insurance
In this life insurance, insured person will have to pay the premium amount in whole of his life time and sum assured is paid to the dependent of the insured person on his death. After the death of the person no need to pay premium by the dependent of insured person.
• Children’s education and marriage Endowment life insurance
In this type of insurance parents of any children should make insurance for fixed period of time for their education and marriage. Parents should keep the children’s name as his representative. After the expiry of time the insured amount gets by the family which is used for the children’s education and his/her marriage.
• Term life insurance
In this type of insurance, there is only short time of period. It is simply a short term insurance. It is made only for the short period until and unless the amount of loan is repaid. This insurance is made to gives the security to the creditor.
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Importance of insurance
As we know that it supports in our daily life by providing security and protection. There are many uncertain incident may be possible that can crate the financial problem and other. But with the help from the life insurance and other insurance, it makes easy to solved the obstacle. Furthermore people’s life has to face many calamities in different forms. Insurance is a measure in society that provides protection against calamities.
The following significance can be obtained from the insurance.
• Financial protection
In this world we need the financial security because many uncertain obstacle or calamities can be forms. Insurance is the way of measure this calamity. IT gives protection against large and uncertain losses in return of nominal amount of premium. So that insurance gives the feeling of security against uncertain risk.
• Reduction in risk
In running business there are many risks occur, so that insurance can be used for reduction of certain risk. IT is impossible to eliminate risk, so that carry on the business activities the companies should insure the properties and business.
• Encourage saving
The insured has to pay a premium regularly. Thus it encourages the habit of saving specially in life insurance. Furthermore it creates the habit of saving to the insurance person.
• Employment opportunity
To carry on the activities of company, factory, and other developed industry there must be the manpower. Numbers of people are engaged in insurance company. Thus it provides employment opportunity in the country.
• Increase in efficiency
As we know a person who insured feels more safe, active and enterprising as compare to other person who does not insures. His/Her efficiency increases and can enjoy more benefit of risk.
• Other
Promotes foreign trade, profitable investment, basis of credit and national development are the other significance of insurance.
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Insurance is the way of protecting assets, security to the people and helping to each citizen when needed. It insures the life of the people. Furthermore it is helpful in the business world as there is many risk involved in the business. But it can be reduce with the help of insurance. Insurance may be considered a game of risk in which individuals and businesses protect themselves, their families, and their property from possible losses resulting from unpredictable events such as storms, fires, accidents, illnesses and so on.
Firstly an individual pays a small amount of money called a premium to an agent who acts on behalf of an insurance company which holds the individual's premium and the premiums paid by thousands of others, which holds the individual's premium and the premiums paid by thousands of others. The individual gets an insurance policy, a promise that if there is any loss such as destroy the factory by the fire, insurance company will pay for it.
Life insurance is one of the types of the insurance which is related to the protection of the life of the people. Life insurance is a contract in which insured promise to pay a uniform rate of premium at the fixed time against which the insurer agrees to pay a fixed amount. It provides the financial protection against the risk of early death. There are basically three kinds of life insurance that may be purchased by individuals for themselves or others or by employers for their employees. It is believe that the 80% of the business are involved in the insurance. IT was started in England and other European countries in 16TH century.
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Computer has been modifying from the beginning to the end. There are many change has been occur in this process. As we know that there is change occur when time is running. So we can classify computer into different generation. The memory unit, processing capabilities and their mode of operation has help us to classify the computer into different generation.
The development of different types of memory devices has given a sequence of development of computers from mainframe to microcomputer. Early computer were only the mainframe computer which were owned by the universities or government agency. The computer was costly and changing a program needed change in the cable connection also. The early computers used vacuum tubes. The vacuum tubes or valves were invented by Lee De Forest in 1908. The vacuum tubes were used as memory devices in the first generation computers.
The computers used different kinds of memory devices. According to the use of memory devices the different generation are as follows
1. First generation computer
2. Second generation computers
3. Third generation computers
4. Fourth generation computers
5. Fifth generation computers
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Animation is the art and science of making pictures, or images, appear to move. Animated movies and television shows are popular forms of entertainment. In the movies also computers are mostly use to create background effect and surrounding design. It is helpful to create the movies real.
Computer animation can be used to make a whole movie or to create a special effect in live-action films. Many spacecraft, robots, and monsters in movies are actually computer images
Computers have made animation a faster process. Artists can also use computers to create characters, objects, and backgrounds that look more real than drawings do. They can produce the thousands of pictures needed for an animated film more quickly than human artists. Today computers are used in almost all animation.
.Computer animation can be used for more than just entertainment. Scientists use computer animation to show things that people cannot easily see in real life. Such things include the movement of the solar system, weather patterns, and the inside of the human body.
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In this modern world all the work has been done by the used of compute. The computers have a myriad of applications in fields ranging from the arts to the sciences and from personal finance to enhanced communications. The computer has been used in all the field of the business and used in research in different matters.
Communication
Computers make all modern communications possible. They operate telephone switching systems, coordinate satellite launches and operations, help generate special effects for movies, and control the equipment in television and radio broadcasts. Internet links computers all over the world. So that it is possible to share and view the message, opinion, idea, and information in the short period of time. Journalists and writers use word processors to write articles and books, which they then submit electronically to publishers.
Science and research
Scientists and researchers are those person who use the compute in there daily life for operating the activities. Computers help to finish the task in specific time. Scientists and researchers use computers in many ways to collect, store, manipulate, and analyze data. By the different research scientists collects the data and those data is entered in the computer, and the computer manipulates the data in order to show how the natural system is likely to behave under a variety of conditions. Thus it is useful in research and tests the new theories.
Industry and Education
Computer plays the vital role in the world of industry and in education. Computers help to develop the industries. IT is helpful to carry on the difficult task. In factories, computer-assisted manufacturing (CAM) programs help people plan complex production schedules, keep track of inventories and accounts, run automated assembly lines, and control robots. In the field of education, computers play the significance role to develop the skill for the student. It makes student mind vast, they can use the computer for getting more information in any subject.
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Types of computers
• On the basis of work
• On the basis of brand
• On the basis of size
• On the basis of model
On the basis of work
On the basis of work performance, computer can be classified into three (3) classes they are as follows-
1. analog computer
2. digital computer
3. hybrid computer
On the basis of brand
There are many brands of computer. Hundreds of computer is involved in computer manufacturing and they give their own brand name. But it is true that all the compute can be classified under three types from the technological point of view.
They are as follows-
1. IBM PC
2. IBM Compatible
3. Apple/Macintosh
On the basis of size
They are designed to process complex scientific jobs. These computers have the largest, fastest and most expensive systems in the world. On the basis of size computer can be classified as follows-
1. Mainframe Computer
2. minicomputer
3. microcomputer
On the basis of model
Basically, IBM computers are classified into three models. They are as follows-
1. XT (Extended Technology)
2. AT (advanced Technology)
3. PS(Personal System-2)
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Importance of computer
In simply words computer is the modern device which helps to carry on the work in proper time, it gives the full information in less time and save our previous time .The computer refers to an electronic device that can perform automatically a series of tasks according to a precise set of instructions. The set of instructions is called a program, and the tasks may include making arithmetic calculations, storing, retrieving, and processing data, and so on. So that there is no difficulties to perform the task. Any difficulties task can be perform with the help of computer.
As it is describe in the above paragraph, that it save time and understood easily the task .The computer are used by the scientist, business man and other. Computer is important to each of them equally in the entire field. Computer has been used to solve scientific and engineering problems, such as designing weapons and modeling the first hydrogen nuclear reaction.
Another important computer application is databases. A database is an organized collection of data together with a special index. The index allows a user to pull out different information from the database on the basic of various question ask by the user of the computer. Common database examples include government social security records, insurance company health records, airline reservations, school grades and many more.
With the used of internet we people can view many website therefore we can gain the knowledge and many things. It is only possible if there is computer. So that computer is important in any sector. By receiving the information, knowledge, idea and other things, It can be used in our practical life
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The hardware are the parts of computer itself including the CPU and related microchips and micro-circuitry, keyboard monitors, cards such as graphic card, sound card, video card and so on.Together they are often referred to as a personal computer
(PC).
The function of computer parts are as follows
- monitor
It is one of the part of computer which has its own value and its own function. If there is no monitor we can not imagine the computer and work can be done in computer.when we type the word in the keyboard it can seen in the monitor.the parts of computer i.e monitor it display the information on the screen so that we can easily understand and operate it without any difficulties.Monitors come in any sizes and types. Thus in simply we can say that Monitors is the screen on your computer that you look at when you set on the computer.
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There are various part of computer which has its own value and its part operate differently.This all computer parts operates as a unit to function a work.
They are as follows
- monitor
- keyboard
- mouse
- hard disk
- CPU
- Printer
- scanner
- speaker
- modern
- chip
- mother board
- zip drive
- video camera
as we know that to perform a single work, the parts of computer have to work same time. The above parts has its own value and and operate different function. There are four main parts of computer. they are monitors, keyboard, mouse and CPU which is known as central processing unit.CPU is the collection of various parts of computer.If you use a desktop computer, you might already know that there isn't any single part called the "computer." A computer is really a system of many parts working together. The physical parts, which you can see and touch, are collectively called hardware.On the other hand software is refer to the program and instruction that tells the hard ware what to do.
