Question

prepare Proforma of financial statement of genera l insurance companies​

Answer 1

Answer:

Types of General Insurance:

General insurance is sub-divided into:

(a) Fire

(b) Accident, and  

(c) Marine.

Explanation:

Marine Insurance  

A marine insurance contract is an agreement by which the insurer undertakes to indemnify the assured in the manner and to the extent thereby agreed, against marine losses. In other words, it is a contract which protects the insured against losses on inland water or any land risk which may be incidental to any sea voyage—Sec 4(i). In short, this policy may cover a ship during buildings or the launch of a ship or any adventure analogous to a marine adventure.