Page 60 - Insurance Times September 2020

Poll for wellness in health insurance with help in
Glossary Do you think IRDAI's new regulation on rewards

growth of heath insurance market in India
Yes Results of Poll in our August 2020 Issue

No Do you think Online Insurance Education will
get a big boost.
Can’t say

You may send your views to :
Poll Contest, The Insurance Times Yes 80
Incurred Claims
Paid claims plus amounts held in reserve 25/1, Baranashi Ghosh Street, Kolkata - 700 007 No 20
Phone : 2269 6035, 2218 4184, 4007 8428
for those that have been incurred but Email: insurance.kolkata@gmail.com Can’t say 00
not yet paid.
Incurred Losses
Sustained losses, paid or not, during a
specified time period. Incurred losses View latest Webinars on
are typically found by combining losses
paid during the period plus unpaid losses Insurance and
sustained during the time period minus
outstanding losses at the beginning of
the period incurred in the previous Risk Management
period.

Indemnity, Principle of
A general legal principle related to at
insurance that holds that the individual
recovering under an insurance policy www.rmaindia.org/webinar
should be restored to the approximate
financial position he or she was in prior on Youtube
to the loss. Legal principle limiting
compensation for damages be
equivalent to the losses incurred.

56 The Insurance Times, September 2020