Language Essay Essay

Introduction Language is universal way to express how a person feels. So of course, it is essential in cultures to express their individuality within life. Most of the time people do not put a lot of speculation on what mental processes may be taking place subconsciously. These mental processes allow a person to think, speak, and express their personal thoughts through language. In order to properly analyze that language, cognition must be a part of the mental processes too. In this essay, we will delve deeper into how language and cognition are associated. Language & Lexicon Language is an efficient and consequential use of information, which can be both comprehended and used by all living things. It is also the communication of thoughts to language. According to Merriam-Webster (2014), cognitive psychology can be defined as, â€Å"a branch of psychology concerned with mental processes (as perception, thinking, learning, and memory) especially with respect to the internal events occurring between sensory stimulation and the overt expression of behavior.† Accordingly, when a person or animal learns to understand through the use of language, and with the capacity of that language, there can be a cognitive process that helps to separate humans from animals. Language is completely generative, dynamic, structured, and communicative. In language, a lexicon is known as the vocabulary or psychological language. A lexicon can hold many different types of words, which can also include how to pronounce a word, and the parts of speech for each word (Galotti, 2014). A lexicon is used to help a person understand words that are spoken, and their meanings. The spoken words are compared to a person’s lexicon, which is how a person can understand what the word is. It could be near impossible to understand a language or vocabulary without lexicons. The use of lexicons are a very important part of a person’s language. Key Features of Language There are many key features that make a language. The following are the main properties: generative, communicative, dynamic, and structured. Language is considered generative because, a person has an unlimited capacity as to how they build their personal languages. Language allows people to communicate with one another, and it also allows other animals to communicate within the same species as well. Language is dynamic because it is forever changing, and also develops people into having larger vocabularies. Lastly, the structure of language plainly shows exactly how convoluted it truly is. The great thing about language, is that it can adapt and expand as a person learns more information. New words can be added to a language or vocabulary, while others can be erased or updated (Galotti, 2014). Language development is different for each person. Some people are able to learn language through their cognitive functions, but sometimes, it takes more time. For an example, with children, they have to learn everything, which includes their own names, how they are feeling, how to express feeling, and objects. But they also have to learn how to use the vocabulary they are learning. Lastly, the feature that influences more cognitive processes, mainly languages that can influence thoughts. It works in a rotating structure, language helps to influence thoughts, and language also helps to regulates thoughts. A person always uses language in order to interpret their own thoughts. The main reason that language influences thought is because thoughts are when a person is consciously speaking to themselves. Levels of Language There are four different levels of language in reference to the structure and processing, phonemes, words, sentences, and texts. Phonemes are the tiniest part of sounds or units that can be used by people in order to form words. Phonemes are a person’s sounds of speech, which is similar to each letter in the alphabet. The main dilemma with phonemes are that each person’s creation of them are different. When a person studies phonetics, they are studying speech sounds and their physical properties. Words help a  person make sense of phonemes. Words are made up of by multiple spoken sounds. A sentence is, of course, a set of words which complete themselves. A sentence will also allow a person to organize their thoughts when they are preparing to speak, or to write something. A text helps a person connect sentences in order to form a small amount of information, or a paragraph. These usually help to explain a specific topic, and always have to be about one topic. All four of these structures are a crucial part of language. To put this more easily, phonemes lead to words, words lead to sentences, and sentences lead to texts (Galotti, 2014). Analyzing the Role: Language Process & Cognitive Psychology In order to properly analyze the role of processing language, a person has to first understand cognitive psychology, to study mental processes. Mental processes give a person the ability to think, believe, perceive, solve problems, make decisions, remember, learn, reason, and adapt. By using these mental processes a person can begin to understand and comprehend language, and with that, the process of the language is used. If a person does not understand the language’s structure, that person will not have the capability to understand texts, sentences, words or phonemes, which all make up a language. With lack of perceptive abilities, a person may not comprehend language, with all of its entirety. Cognitive processes help determine how the language is processed within the brain. When a person begins to learn and understand language, the cognitive process is in use. Conclusion The cognitive process known as language drives a separation in between humans and other beings. The lexicon contains words in which people can use to compare other words or parts of speech. There are multiple key features of language. These key features, as stated above are, generative, communicative, dynamic, and structured. With all of these features, language can become very intricate. If a person were to completely understand each one of these key features, they will be able to understand and comprehend how necessary they are to be used within language. Also, it is crucial for a person to analyze the role that cognitive psychology plays within the process of language. Cognitive psychology is important in many aspects of a  person’s life, but especially in the language process. References: Cognitive Psychology. (2014). In Merriam-Webster. Retrieved from http://www.merriam-webster.com/medical/cognitive%20psychology Galotti, K. M. (2014). Cognitive Psychology In and Out of the Laboratory (5th ed.). Thousand Oaks, CA: SAGE.

Accused of witchcraft Essay

Parris : Why not? Now there are no spirits attacking her, for none in this room is accused of witchcraft. So let her turn herself cold now, let her pretend she is attacked now, let her faint. (He turns to Mary Warren.) Faint!  Act 3, Page 85  This is when the court first has the idea of getting Mary to prove the other girls are frauds by getting her to pretend to faint. She will not because she is afraid of what the girls will do to her. Or cannot, for fear of the court  This is one of the highest points of tension in the whole play because everything and everyone is focused on Mary, relying on her in one way or another to either tell the truth or to lie. But there is so much pressure on Mary that she can’t say anything. The pressure builds and builds until Mary cracks then Abigail launches a perfectly timed attack. Just when people are confused about whom to believe Abigail turns on Mary and makes them believe her.  The girls turning on Mary is a dramatically effective part in act three. This is because when the girls turn on Mary you feel sorry for her due to the fact she is torn between telling the truth to the court or joining the girls again to prevent them from accusing her.  Ã¢â‚¬Å"Mary Warren, do you witch her? I say to you, do you send your spirit out?† Danforth, Act 3, Page 87  When Danforth asks her this question Mary snaps and pushes herself away from Proctor.  Mary Warren, Act 3, page 88  This is when Mary’s delicate relationship with Proctor breaks down and she will no longer cover for him and put herself at risk from being accused by the rest of the girls.  Abigail : (Looking about the air, clasping her arms about her as though cold): I – I know not. A wind, a cold wind, has come. (Her eyes fall on Mary Warren.)  Mary : (Terrified, pleading): Abby!  Mercy : (Shivering): Your Honour, I freeze! Proctor : They’re pretending!  Hathorne : (Touching Abigail’s hand): She is cold Your Honour, touch her!  Mercy : (Through chattered teeth ): Mary, Do you send this shadow on me?  Act 3, Page 87  This is when the girls first start to turn on Mary, she is a very fragile person and when they start to turn on her she doesn’t know what to do. She was used to pointing the finger of accusation not having it pointed at her and on her own she can’t cope. So she betrays the truth and goes back to the safety of the girls and being the accuser not the accused. Mary finally breaks down and accuses Proctor of witchcraft. Fearful for her own life, Mary realizes that the only way to save herself is to accuse Proctor of coercing her into attempting to overthrow the court. In this case the accusation contains some truth: Proctor did force Mary Warren into testifying, yet in this case the purpose is to promote true justice rather than to dispute it.  Elizabeth lying to protect Proctor is a dramatically effective part in act three because there is a lot of tension when Elizabeth is brought into the court. Miller uses dramatic irony when Elizabeth doesn’t know that Proctor has confessed to lechery and that they are testing her to see if Proctor was telling the truth. Elizabeth doesn’t know that it is Abigail that is being tried and so she lies to protect her husband but in fact by lying she is in the eyes of the court proving that her husband is a liar. Miller uses the frustration of Proctor as his wife is lying but there is no way he can tell her that by trying to protect him she is actually getting him into more trouble â€Å"Look at me, to your own knowledge, has John Proctor ever committed the crime of lechery! (In a crisis of indecision she cannot speak.) Answer my question! Is your husband a lecher!†Ã‚  Danforth, Act 3, page 91  You can see by this, that Danforth doesn’t give Elizabeth much choice and practically puts the words into her mouth. By saying is your husband a lecher he leaves her no choice but to say â€Å"no†. What kind of woman would call her husband a lecher in front of a court? â€Å"(There is a knock. He calls to the door.) Hold! (To Abigail.) Turn your back. Turn your back. (To Proctor.) Do likewise. (Both turn their backs- Abigail with indignant slowness) Now let neither of you turn to face goody proctor. No one in this room is to speak one word, or raise a gesture aye or nay. (He turns towards the door, calls.) Enter!  Danforth, Act 3, Page 90  The Audience feel frustrated because all that Elizabeth has to do is tell the truth and Abigail’s ruthless revenge will be stopped and the truth will be brought to light but there is no way Elizabeth could know this so she does what she thinks is the right thing and tries to protect her husband. In this scene Miller uses dramatic irony very effectively. Danforth makes the trial look fair but in fact gives Elizabeth no choice  but to lie.  Danforth : â€Å"Answer my question! Is your husband a lecher!  Elizabeth : (Faintly): No, sir.  Danforth : Remove her, Marshal.  Proctor : Elizabeth, tell the truth!  Danforth : She has spoken. Remove her!  Proctor : (crying out): Elizabeth, I have confessed it!  Act 3, Page 91  This point is the dramatic climax of the whole scene because it is the point where Elizabeth finally finds out what she has done, and she is distraught. Hale tries to reason with Danforth when he says, â€Å"Excellency it is a natural lie to tell† this shows that Hale is the voice of reason but for most of the time he is not listened to, like Proctor who spoken sense throughout – both are shut out in their ways. To save her husband from accusations of witchcraft, Elizabeth must condemn him for lechery. Miller establishes that Elizabeth is an honest woman who never lies, yet at the moment in which her honesty is most critical she chooses the noble yet practical lie that she believes will defend her husband. As Hale notes, it is a natural lie for Elizabeth Proctor to tell, yet an incredibly ill timed one; Elizabeth Proctor chooses dishonesty at the precise moment that her integrity matters the most. Act 3 of ‘The Crucible’ is so effective because Arthur Miller uses a wide variety of emotions for his characters and a good variety of action. One minute the scene can be rather quiet with just simple conversation and the next minute it can be very chaotic with characters hurling accusations and abuse at each other. The reason this play is so effective is because Miller uses moments of calm as well as moments of extreme action, if it was just action, action, action all the time the audience would become immune to it and the really important parts wouldn’t stick in your mind as much. Act 3 is relevant to the play as a whole because it is the Act where a lot of important things happen and it is the most dramatic, with a lot of tension and anger between different characters. It is what the first two acts have been building up to and you could say it is the climax of the whole play.  When Arthur Miller wrote the play, â€Å"The Crucible† in 1953 the contemporary audience could relate to the play due to the media coverage that was occurring at the time. This era was concerned with the political movement of communism; the McCarthy trials. The contemporary audience saw Miller’s play as relevant because of the effects of mass hysteria- the destruction of the community in Salem. Miller felt that the play had relevance although he didn’t write it for that.  The reason why the crucible is still so widely liked even though the witch trials are long gone is because it demonstrates the terrible effects of mass hysteria and what it can do to normally rational people.  The story reminds its readers of an ugly blemish on human history. It reminds us that man is not perfect, and that we can make mistakes. However, even with these mistakes, we can cleanse ourselves and purify ourselves by making right what is wrong.

Free Trade Research Paper Example | Topics and Well Written Essays - 750 words

Free Trade - Research Paper Example After all, states aim at managing the economy such that people get goods at the lowest possible or affordable costs so that they can consume more and improve their living standard. Unfortunately, states do not have matching ownership on various resources that are necessary in the economy. For example, natural resource reserves such as iron, petroleum, coal, aluminum, copper and other differ widely among the nations. Other resources such as skilled and unskilled laborers, technology, or capital all vary substantially across the nations. Therefore, it becomes necessary for the countries to produce goods based on their core competencies and availability of resources so that goods are produced at the most economical cost. The surplus produce can be exchanged with the goods produced by other countries economically. The benefit of economic production can be availed only when there are no tariff barriers between the states. The free trade provides significant economic boost to the member co untries in terms of GDP, employment. It is in fact a win-win situation for people of both the countries. Based on the above perspective, the US entered into a free trade agreement between Canada and Mexico on January 1, 1994 that came to be known as NAFTA. It is a world’s largest free trade agreement covering 45 million people with the combined GDP of the US, Canada and Mexico have surpassed US $17 trillion based on 2008 figures significantly up from the 1993 figure at US$7.6 trillion. It has been argued that North American employment levels have increased by 23% since its beginning. This amounts to a net gain of 39.7 million jobs (Naftanow.org , 2012). Trade bloc countries eliminate tariffs thus making the cost of imports cheaper. As a result, demand of the goods spurts due to lower price availability. For exporters, it provides an increased business opportunity and for importers, consumers benefit

Laser tattoo removal Essay Example | Topics and Well Written Essays - 1500 words

Laser tattoo removal - Essay Example Given these reasons for choosing to have tattoo, anyone can easily observe the obscurities and contradictions. That having a tattoo is a mark of stature contradicts the idea that tattoos are marks of criminals; that people have tattoos because it is a fad is opposite of anger against the society's norms. These contradictions suggest the dependence of each reason on the context one is applied to and on the prevailing societal mainstream, usually defined by the ruling class. For example, because today, tattoos have become available to people in all walks of life (criminals, included), it would be surprising to know that there was once a time when tattoos were only available to the elite and had become a fad to the royals. This started when the King of England, King Edward VII had his arm tattooed with a cross after his visit to Jerusalem in 1862 (Gilbert). In this period, tattoos are considered as status symbols. This role of tattoo does not differ greatly from its role in some primitive societies. The different ancient societies, distant from each other as they are, had similar views on tattooing. The Mayans, the Polynesians, the Samoans, Aztecs, and the Asians of the Ancient times: all considered tattoos as symbols of strength and stature in their societies. There, the leaders were the ones who usually had themselves tattooed; each design, although similar, was unique in a way that represented the story of the wearer-the wars they had participated, their losses, wins and adventures (Skin Stories: The Art and Culture of Polynesian Tattoo). Men who were to assume titles were tattooed as soon as they reach puberty, as a symbol of the start of their special roles. Those who refused were branded as cowards and would forever be outcasts in their respective societies ("Skin Stories: The Art and Culture of Polynesian Tattoo"). This was opposite to the tradition of the Japanese and Chinese. To them, a person with a tattoo was a branded criminal. A story in the Japanese history best exemplified this. It was once said that an emperor of Japan summoned a rebel and was supposed to punish him with death as he was supposed to do, given the rebel's crime. The emperor, instead, punished the rebel with a tattoo because the emperor was feeling "benevolent." It is doubtful, however that this "benevolence" was felt by the rebel, as being sentenced to a tattoo would mean being an outcast in a society and to his family as well. As it is known to all, shame and family are two concepts that were and still are very much important to the Japanese. In their culture, tattooing was a form of punishment that was only a level short of being penalized with death. This negative view of tattoos by the Japanese was influenced by the Chinese. Prior to this, the Japanese actually viewed tattoos in the same way as the Polynesians and Ma yans, being not only something that connotes one's stature but also as something that has a religious significance. This is supported by the discovery of the figures in the ancient Japanese tombs believed to be more than

4 Discussion questions to be answered Essay Example | Topics and Well Written Essays - 500 words

4 Discussion questions to be answered - Essay Example ssessment methods that do not group people based on their physical appearance or origin will go a long way in reducing the possibility of adverse impacts. The method used should also be uniform for all employees. Learning the advanced counseling skills has helped me a lot, as now I am able to apply what I learn in class to real life experiences. According to Smaby and Maddux (2010), a person’s personal characteristics affect their success during counseling training. I always become anxious about my counseling performance. Students are expected to repeat practicing the basic skills in advanced counseling and therefore I have developed more experience in the application of the basic counseling, which has reduced my anxiety. This has made me good at reflecting. I am able to encourage people to continue talking by showing them that I am able to perceive the world as they see it. I think my anxiety is my driving force as it makes me practice often and it makes me a good listener. I will continue working on it as I can see the positive effects it has on everyone around me, myself included. I think that the collection of personal information from unsuspecting web users is both a good marketing strategy and at the same it is an invasion of privacy. I remember the first time I noticed this, I had searched a website from abroad then later I saw the same website being advertised on other websites that I was accessing. It was creepy at first before I realized what was happening. For those companies, it is a good marketing strategy because their products reach their targeted audiences, including new products that are not familiar to an individual. This is possible even without opening the particular website. People on the other hand get hold of information about things that interest them without going the extra mile of actually searching for the product. As much as both the websites and consumers are benefiting, at the end of the day I believe that it is wrong to sell

My Political Socialisation Essay Example | Topics and Well Written Essays - 1000 words

My Political Socialisation - Essay Example My father reads political news from newspapers and political magazines as well as watching a lot of news and political discussions online. Views were weak but as I have developed the knack for politics and have surrounded myself with political friends including my father, I have found that my views are changing from being weak to strong. I cannot really confess to being that strong but I am not weak either. On the issue of voting, however, I am fairly strong enough in political affairs to change and be sure to make the correct voting decision based on my political analysis of the candidates. I have engaged in a few political activities and one peaceful political demonstration. I am however yet to identify a good political organization to become its member but it is on my agenda and will soon happen. These political activities have been influenced by my friends and my father. The political demonstration was my friends’ idea and influence which my parents did not agree to, howev er on the other political activities, my father has pushed and encouraged me and some even joining me to carry them out. Lucky for me, I have interest in politics even though they did not develop that long ago. What however impeded their quick development was the lack of political interest my mother and older siblings had and I spent a lot of time with them more than with my father because of his work. However, when he reduced his work travels and was home more often, I found my political niche slowly shifting.

Mendel Genetics Using Brassica Rapa Research Paper

Mendel Genetics Using Brassica Rapa - Research Paper Example Through the experiment, the hypothesis that the presence of purple pigment is dominant and the trait follows Mendelian laws will be tested. Through analysis of the experimental data collected revealing the dominance of the purple stem trait and a literature review of qualitative and quantitative data, the result will be analyzed to determine if the hypothesized prediction that the phenotypical ratio of 3:1 is established, in accordance with the Mendelian laws. ... Materials and Method To conduct this experiment, heterozygous P Brassica rapa seeds were planted on day one and cultivated in 28 by 55 centimeter plastic pots in an artificial soil compound of an equal mixture of peat moss and vermiculite and watered with distilled water on regular intervals (6). The plants were grown at a controlled temperature of 32?C under regular illumination from fluorescent lamps (7). The seeds, potting soil, and planters were the materials used for this portion of the experiment. The genotype of the parent plants used was F1, Non-Purple Stem, and Hairless. One parental plant was true breeding and green and the other parental plant was true breeding and purple. Once the seedlings began to sprout on the fourth or fifth day, the numbers of purple and green stem phenotype was recorded. The plants began to flower between days nine and eleven and were cross pollinated on day fourteen. Seed pods began to appear on day twenty-one, at which point they will be collected and germinated in the same manner as the parent plants. The number of purple and green stem phenotypes will be counted among the F1 generation to ascertain whether they follow the Mandelian principles. The seeds will appear above ground and will be collected, allocated, and counted according to the number of total seeds that germinate and the stem color of the seeds that germinate. Results Figure 1 Section 001 Table # 1 # Germinated Seeds Purple Phenotypes Green Phenotypes 1 63 51 10 2 99 78 5 3 90 74 5 4 80 56 16 5 74 58 3 6 39 25 10 Total 445 342 49 Figure 2 Section 002 Table # 2 # Germinated Seeds Purple Phenotypes Green Phenotypes 1 172 140 28 2

Classic Airlines Essay Example | Topics and Well Written Essays - 1750 words

Classic Airlines - Essay Example The airline industry is an oligopoly. Oligopolies are characterized by having a limited numbers of participants in a market structure that has a medium level of price elasticity. Since there are few competitors companies tend to react to changes in prices of other airlines. The airline industry has been in a cost savings mode for several years. Since 2002 the number of people working in the airline industry has been reduced by over 150,000 workers (Plunkett Research, 2011). The revenues generated by the industry in the United States are significant. According to the USTA the airline industry in the United States generated $704.4 billion (Plunkett Research, 2011). It would be in the best interest of Classic Airlines to increase its market share in the lucrative US travel marketplace. In the past Classic Airlines made the mistake of pursuing an aggressive price discount strategy. The results of the lowering the price strategic approach were not favorable. Drastic price reductions in an oligopoly place the entire industry at risk of a price war. In a price war all the participants lose due to the fact that the profit of the entire industry goes down. Internal and External Pressures Classic Airlines is currently facing a lot of pressures from different stakeholder groups. The company has stayed profitable, but its margins are extremely thin. Last year the company generated $10 million in revenues which seems like a nice figure, but considering the firm generated $8.7 billion in sales its net margin was very low. The net margin of the company was 0.11%. The industry standard net margin in the airline industry is 2% (Dun & Bradstreet, 2011). The shareholders of the company are putting pressure on the management staff to improve the results of the corporation. Due to the weak financial performance of the company the price of the common stock of Classic Airlines has been going down. One of the objectives of any public corporation is to maximize shareholder’s wea lth. The company also faces pressures from its customer base. The customers are not very happy with the company. A metric that illustrates the current situation the company is facing is the fact that the firm’s customer loyalty program has lost 20% participation during the last year and the frequency of purchases of the customer has also gone down by over 20%. One of the primary reasons the company’s financial performance has been weak is due to the fact that the company has lost a lot of returning customers. The customer retention rate of a company is a very important marketing metric. The company lacks the service elements, operations procedures, and marketing programs to satisfy the customer’s needs. In the business world the customer is the most important stakeholder group because companies depend on the customers for its revenues. A third stakeholder group that is facing pressures due to the current situation at Classic Airlines is the employees of the comp any. The firm is currently having major employee morale problems as morale is as low as it has ever been. When employees have low morale they lose their motivation and as a consequence their performance and efficiency suffers. It is important for the managers of companies facing morale problems to demonstrate strong leadership. The low morale of the employees is negatively impacting the customer service function of the enterprise. One of the critical positions in regards to customer service is the flight attendants. Their job is to make the customer feel comfortable during the entire flight. Objectives and Obstacles of Marketing Department The objective of the marketing department

Why are ethics in sex research important Essay Example | Topics and Well Written Essays - 500 words

Why are ethics in sex research important - Essay Example For example, confidentiality is a key issue in sex research and it is enhanced when ethics are observed during the data collection process (McLaughlin 69). Ethics in sex research also help in gaining the support of the public for the research being conducted. Ethical behavior ensures that researchers observe integrity and conduct high quality research, as a result of which the public can fund such an initiative since it is being conducted with adherence to the set standards. Adherence to ethics in sex research is also important since it contributes to the promotion of social and moral values. While conducting sex research, it is essential to respect human rights, observe the law, as well as be socially responsible. In addition, it is important to ensure that the health and safety of the subjects being used in the research are guaranteed. When there are ethical lapses during sex research, the human subjects taking part in the research will be harmed and this is morally wrong (Ritzer and Ryan 546). Ethics in research are also vital since they help researchers to avoid discriminating their subjects. As an ethical obligation, researchers should treat all subjects equally and avoid discriminating some subjects when conducting research. Observing the code of ethics is also crucial in sex research since it enables researchers to abide by the law. Moreover, adherence to norms of research is an indication that the researchers are competent and the research results are valid and reliable. Respect for ethics is a prerequisite for professionalism and competence when conducting research. When researchers observe ethics during sex research, they manage to respect the dignity of humans, autonomy, as well as privacy of the subjects involved in research. In addition, ethical conduct enables researchers to take the necessary precautions, especially when dealing with vulnerable subjects (McLaughlin 70) When conducting sex research, there are a number of

Effect of luxury cars on the uk market Essay Example | Topics and Well Written Essays - 2000 words

Effect of luxury cars on the uk market - Essay Example In other markets, especially those in the South Eastern Asia region make significant sales of other types of luxury cars too (TATT, 2010). However, these markets are always limited to the sum total volume of sales by the overall size either of the industry or by the local conditions of the market and other preferences (Shende, 2014). Consequently, the market for luxury cars generally is presently undertaking some sort of social change with some of the luxury car brands seeming to be less remote. The brands are also seen to be less varied and at the same time less exclusive with the quality, that they have in improving lives (TATT, 2010). As a result, the increment in the competition between different car makes has intensified the relevance of brand identity (Shende, 2014). As the standards of the product continue to go up, the customer’s perceived image of the car brand plays a major role in making the buying decision. Some of the luxury cars such as the BMW, Lexus and the Mercedes- Benz are bound to develop some values and characteristics that are seen to reflect the ever-changing social values (TATT, 2010). The values then influence the buyer’s emotions, so that the brands maintain their positions in various world regions of the global market (Shende, 2014). In the past several years, the research into the customers’ perception and their behaviors in the luxury car industry has been driven by a couple of researchers all over the world (Shende, 2014). There is very little literature both in writing and in softcopy means that document any research done concerning customer perception of luxury cars. Most of the work is focused on the loyalty of the consumers and that of brand switching (ANURIT, NEWMAN & CHANSARKAR, n.d.). The key research that has been made has focused on the low priced segment ranges of cars rather than the luxury car segment in which any choices between the choice of individual potential buyers and brand image concept play a big

Being on time Essay Example for Free

Being on time Essay One of my pet peeves is people who aren’t on time for things. Just how much this upsets me was brought home to me twice today, and I decided it was time to rant about it. The first was a meeting I was supposed to have with the director of a local non-profit organization. The plan was that he would give me a call â€Å"before noon†, to arrange a meeting shortly after noon. I was offering to put some scripts together on their website so they could post news more easily so people would know what’s up with this organization. Off the top of my head, I’d guess it was an offer of about a thousand dollar donation of services. He finally called at 12:30, calling my cell-phone (after I’d given him my home number, saying that was the best way to reach me), leaving a message saying we’d have to reschedule. I left for lunch and a walk to clear my head at 12:45, and finally got the message at 2:45 when I got home and wondered if maybe he’d called the cell-phone. At this point, I don’t know if I’m even going to bother trying again. Apparently my offer of services isn’t worth enough for him to call me when he said he was going to, which makes me wonder why I should bother helping out. The second was the president of a company for which we did some web design work. He was impressed with our work, and asked if we might want to put in a bid for some future work. The problem is that the person we had to work with at that company, â€Å"marketing guy†, had blown off every single in-person meeting we’d scheduled during the previous project, and had been late for numerous phone calls we’d also scheduled (about a quarter of the final cost to the client was time we spent waiting for marketing guy, rather than doing productive work). I replied that we’d be interested in looking at the work, as long as marketing guy wasn’t involved. And I’ll stick by that. I don’t think there’s enough money to convince me to work with marketing guy again. The third event (a couple days ago) is a company I’m contracting at. At this company, there’s a regularly scheduled weekly meeting. It happens every week unless people decide there isn’t enough to talk about and we cancel the meeting. One of the team members has not been on time for the meeting that I can remember. It bugs me enough that even though this is the client providing most of my income at the moment, I think about simply walking away from the contract almost every day. So why do I feel this strongly about being on time? Well, most of it has to do with the saying â€Å"A Man’s Word is His Bond.† If you tell someone you’re going to do something, then you do it. If you don’t, you’d better give notice ahead of time, and have a pretty good reason. But another part of it is respect. When schedule a meeting, I’m making a commitment to be there on time. When someone else is late to the meeting, I get the feeling that they figure they’ve got something more important than my time. â€Å"Sorry I’m late, but traffic was brutal† is an excuse I hear all the time. Well, I had to get to the meeting through the same traffic, and I was on-time. If I’ve got a meeting in the morning, I’ll check the traffic reports or look out the window and make sure I leave early enough to get to the meeting. I respect the other people at the meeting enough that I’m not going to waste their time by being late. I just realized that this also applies to monetary issues. I’ve had clients who never pay on time. They agree in a contract to pay my invoices net-30 and then checks arrive like clockwork 45-60 days after the invoice. I won’t work with that sort of client anymore. I’ve got yet another job that I put in a bid on yesterday, but I’ve heard through the grapevine that this client habitually pays late. When we meet to discuss terms, I’m going to make it very clear that late payment on their part will be considered breach of contract. Fuck it. It’s not worth my time to try and wheedle payment out of them, so if they don’t pay, work is stopping, and I’ll hand the collections over to the lawyer. It may cost me the job, but at least it’ll keep me from getting upset with the client. And I think that’s got to be my long-term approach. If a client’s not willing to honor their commitments, whether it’s showing up on time for a meeting, or getting a check in the mail, I’m not sure why I would want to work for them. I don’t need the headaches. Now I just have to figure out how to deal with the current client. Maybe changing the meeting to the afternoon will be the answer.

The Supreme Court Essay Example for Free

The Supreme Court Essay FACTS:   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   This case involves the pupils in a Dade County Junior High School who have filed for damages and declaratory relief with regard to the allegations that the students were subjected to corporal punishment which violated their constitutional rights.   The school board argued in response that such corporal punishment was allowed under the regulations that were released authorizing such punishment to be carried out under strict specifications. ISSUES:   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The first issue here is whether or not the execution of such corporal punishment falls under the prohibition on cruel and unusual punishment contained in the Eight Amendment.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The second issue in this case is whether or not the Fourteenth Amendment requires notice and hearing before the imposition of corporal punishment HELD:   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Anent the first issue, the Supreme Court ruled that the Cruel and Unusual Punishment Clause under the Eighth Amendment does not apply to disciplinary corporal punishment in schools.   The Supreme Court reasoned that the jurisprudence has consistently maintained that the prohibition on cruel and unusual punishment only applies to protect those who have been charged and convicted of crimes.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   On the second issue, the Supreme Court held that notice and hearing is not required for the imposition of the corporal punishment in public schools.   The essential consideration in this matter is that the corporal punishment not exceed the limitations that have been set.

Islamic Finance Issues With Securitization

Islamic Finance Issues With Securitization Chapter 1 INTRODUCTION Allah has created people to know Him and worship Him, in observance of His due lordship and divinity. That is why Islam made devotion to Allah the primary requirement of a Muslim after the two witnesses [of No God but Allah, and Mohammad is His Prophet]. Transactions are part of the religious issues that a Muslim performs for the sake of Allah Most High. Every Muslim was keen on having the best conduct in transacting within their effort to get closer to Allah Most High, and to fulfill the best life structure for mankind (Does He who created not know, while He is the Subtle, the Acquainted?)[1]. One of the distinctive characteristics of the nature of transactions, and economy in general and Islamic economy in particular, was its ability to expand, renovate and develop. It has unique flexibility that can accommodate new issues and questions revolving about the needs of people, or the requirements of their transactions. Financial transactions are one of the most important aspects of daily life. They are increasingly active and developing. The forms of doing such transactions are renewed and developed in accordance with modern life activity. One of the latest and most prominent developments was the appearance of securitization process among the financial organizations worldwide. Lots of discussion is held at present about securitization, which means the conversion of illiquid assets to financial papers. In reality, securitization is a modern financial instrument that had initially started in the US, in particular. Many American banks worked hard to securitize their debts. Even though securitization originated in the Western World, Islam does not prohibit us from benefiting from non-Muslim inventions, so long as these inventions do not contradict with the basics of Islamic law and its roots. Interestingly, Islam was ahead of the West in using the securitization as a document to prove some right. Al-Nawawi discussed this issue, and declared As-Sukak Ø §Ãƒâ„¢Ã¢â‚¬Å¾ÃƒËœÃ‚ µÃƒâ„¢Ã†â€™ÃƒËœÃ‚ §Ãƒâ„¢Ã†â€™ is a plural of Sak Ø µÃƒâ„¢Ã†â€™ ; it is a written document in proof of a debt. The plural can also be Sukuk Ø µÃƒâ„¢Ã†â€™Ãƒâ„¢Ã‹â€ Ãƒâ„¢Ã†â€™ . It refers to the document issued by a guardian ordering provisions, of food or others, to entitled holde rs. The holder may sell this document to others before getting the prescribed provisions (Al-Nawawi, Abu-Zakariyya Yahya M. 1971) [43]. In securitization, special purpose company is one of the important components of such process. This type of company appears with the securitization process, and plays a critical role in that process. Accordingly, in this dissertation the researcher endeavors to know the legal position of such a company and to identify the legal Islamic ruling related to such a company based on its nature, function and relationship with other components of the securitization process. THE IMPORTANCE OF THE STUDY This topic has its own scientific and practical importance from a scientific perspective. The special purpose company (SPC) is still a hot topic under discussion. The major issue relates to its legal position in the Islamic law. There are still controversy around its nature and function. Securitization is one of the troubling issues around the world. From a practical perspective, the researcher posits that the concept of securitization in general and special purpose company in particular has entered all aspects of economic and societal life, while related transactions have spread in many countries, and hence become part-and-parcel of some banking financial instruments . Accordingly, knowledge of the concept of this type of company and its function becomes a communal obligation on every Muslim. Muslims should be well informed about such type of companies. If they are legally permissible, then he can deal with them with confidence; otherwise, a Muslim should turn away from such a company so long as he has the option. In case Muslims find that they are legally prohibited and find themselves forced to deal with them, the least they can do is express their discontent of such sort of companies or hold an ideology of rejecting them. This process of inquiry into business-related legal matters is a must in a Muslim’s life. This commitment cannot happen without the knowledge of the Islamic position of everything a Muslim deals with in his/her life, even where he/she does not have the option. THE RESEARCH QUESTIONS The research question lies down in presenting the concept of the special purpose company, and shows its impact on the issuance of Islamic financial products and more specifically Sukuk. The researcher will try in this dissertation to answer the following questions: First: What is the special purpose company, and what are the reasons behind its appearance? Second: What are the characteristics of the special purpose company, and what are its types? Third: What is securitization, its pillars and importance? Fourth: What is the importance of the special purpose company in the securitization process? Fifth: What function does the special purpose company play in the securitization process and the structuring of Islamic Financial products? Sixth: What is the legal jurisprudence and Shari’ah objective position on the special purpose company? THE GOALS OF THE STUDY In accordance with the above, I have selected this topic in order to achieve certain goals, the most important of which are: To show the concept of the special purpose company and the reasons behind its emergence. To expose the characteristics of the special purpose company and its types. To exert best effort to research the concept of the securitization process, and show its importance and major financing components. To show the importance of the special purpose company in the securitization process. To present the jurisprudential position and Shari’ah objectives of the special purpose company (SPC) in modern Islamic finance products structuring. PREVIOUS STUDIES As the topic is still rather new, I could not put my hands on some in-depth scientific research on the subject, except some on securitization and SPV in general. The most important of these studies were: Al-Tawreeq wa Mada Ahmmiyatahu fi Dhil Qanoon Al-Rahn Al-Aqari [Translated as: Securitization and its importance in relation to the real estate mortgage] (Al-Hijazi, Obaid Ali Ahmad 2001) [44]. The author defined securitization, its components, development and importance. The author has briefly revealed the role of special purpose companies in the securitization process. The dissertation was limited to some restricted real estate application and lacks the Shari’ah viewpoint. Dawr Al-Sukuk Al-Islamiyah Fi Tamweel Al-Mashroo’at Al-Tanmawiyah [Translated as: The role of Islamic Sukuk in financing development projects] ( Mohammed Saleh and Fath- Al-Rahman Ali, 2008),. This research, presented at the Islamic Banking Symposium, covered the concept of Islamic securitization and its role in mobilizing financial resources in order to finance development projects. It also covered the risks inherited in these sukuk and how to manage them. The author has briefly touched on the relationship arrangement among the parties to these Sukuk. The dissertation was more specific to the Sukuk from Shari’ah viewpoint and did not discuss the SPV role in these structures. Al-Tawriq wa Baqiyat Adawat Al-Suyoolah li-sook Al-Islamiyah [Securitization and the rest of liquidity instruments for Islamic market] (Mala’ekah, Saleh 2005). This study has touched on the concept of securitization and its Islamic ruling. It has further touched on the role of Al-Tawfeeq and Al-Ameen companies in the field of mutual funds securitization. At the end of the study, the researcher elaborated on some of the securitization problems. The study lacks in-depth analysis to the modern practice in today’s contemporary Islamic banking products. Al-Sukuk Al-Isalamiyah wa Tatbeeqatiha Al-Moa’sirah wa Tadawuliha [Islamic Securitization, and its modern applications and trading] (Muheisen, Fouad Mohammed Ahmad 2009). The researcher expounded therein on the securitization concept, its goals, motives, and the jurisprudential rules for contemporary securitization process together with its Islamic legal controls. Also, the researcher showed the parties to securitization process, and made a comparison between the traditional securitizations and Islamic ones but lacks the analysis of the SPV role in the Sukuk Structures. Al-Taskik wa Dawruhu fi Sooq Maliyah Islamiyah [Securitization and its role in the development of an Islamic Financial Market] (Bani Amer, Zaherah Ali Mohammed 2008). In this study, the researcher elaborated on the concept of international markets and traditional securitization and its components. The researcher also presented Islamic securitization in a good way in this study. 1.5.1 What makes this study different? In general, previous studies were concerned with historical precedence, details and comments on the securitization process in order to understand its nature, and made a comparison between traditional and Islamic securitization. No study has dealt with the concept of the special purpose company, whether from a conceptual and advantageous perspective or from jurisprudential perspective in relation to other parties to the securitization process in contemporary Islamic Finance. This dissertation is different from previous studies on the following grounds: In terms of completeness, this dissertation is more comprehensive and has covered the shortfalls in some of the previous studies, by handling the concept of the special purpose company, its characteristics and nature. In terms of categorization, this dissertation presented different layout of the research components so as to accommodate the Islamic legal position together with the jurisprudential referencing for the special purpose company, in terms of its relationship with other parties to the securitization process, which is common among countries where this structure is being practiced at present. That would make this dissertation very distinctive from other previous studies. 1.6 Methodology This dissertation assumed an inductive research method in data collection. Further, the dissertation assumed the analytical method for investigation, presentation and formulation, all the way through the conclusion about the concept of the special purpose company and its impact on securitization. 1.7 The Research Plan This dissertation covered an introduction, five chapters and the conclusion chapter six. CHAPTER ONE: Introduction: It covered the importance of this dissertation, its objectives, methodology, previous studies and the research plan. CHAPTER TWO: The Company Literature: The Company in Islamic Jurisprudence and Man-made Law. It falls into two parts: Part One: The Concept of Company in Islamic Jurisprudence Section One: The Definition of Company Section Two: Legality of a Company Section Three: Categories of Companies: Communal Companies, Property Companies, and Contractual Companies Part Two: The Concept of Company in the Man-made Law Section One: The Company by Its General Concept Section Two: The Company by Its Objective Section Three: The Company by Its Business and Activities Section Four: The Company by Its Relationship to Other Companies CHAPTER THREE: SPECIAL PURPOSE COMPANY (SPC) ROLE IN FINANCE: What is the Special Purpose Company and Its role in finance? It falls into two parts: Part One: Definition of the Special Purpose Company, Its Development and Reasons behind Its Appearance Section One: Definition of Special Purpose Company Section Two: Development of Special Purpose Company Section Three: Reasons behind the Appearance of Special Purpose Company, and the Need for It Part Two: Characteristics of Special Purpose Company, and Its Types Section One: Types of Special Purpose Company Section Two: Nature of Special Purpose Company and Its Characteristics Section Three: The Accounting Process for the Special Purpose Company CHAPTER FOUR: LEGAL AND SHARI’AH FRAMEWORK FOR SPECIAL PURPOSE COMPANY IN ISLAMIC FINANCE: It explains the Securitization Process and the Importance of Special Purpose Company for Securitization in contemporary Islamic Finance. It covers six parts: Part One: The Concept of Securitization Part Two: The Pillars of Securitization, Its Importance and Components Part Three: Types of Securitization and Comparison between the Traditional Model and Islamic Model in Security Issuance Part Four: Reasons and Prospects of Securitization Part Five: Legal Dimension (Techniques) and Accounting Dimension of Securitization Part Six:Importance of Special Purpose Company in Securitization CHAPTER FIVE: SPECIAL PURPOSE COMPANY (SPC) IN SUKUK STRUCTURING: The Relationship between the Special Purpose Company and Sukuk Structuring and other pertinent rulings. It falls into two parts: Part One: The Function of Special Purpose Company in Traditional Securitization, and the Process of Islamic Securitization Section One: The Function of a Special Purpose Company When Established in the Form of a Company Section Two: The Function of a Special Purpose Company When Established in the Form of Mutual Fund Section Three: The Function of a Special Purpose Company When Established in the Form of financing Contract Based on Trust Part Two: Jurisprudential Documentation of Special Purpose Company Section One: Relationships Documentation between Parties to Securitization Section Two: Legal Controls for the Special Purpose Company in Securitization Section Three: Proposed Model of Special Purpose Company in Securitization Process CHAPTER SIX: CONCLUSIONS, RECOMMNEDATIONS, AND FUTURE OUTLOOK: This chapter covers the most important conclusions and recommendations. I would like to point out that any human effort is characterized by flaws and imperfections. Perfection belongs only to the Divine. Anything that is true in my writing must have come from the Gracious Lord alone; whatever flaws committed must have come from myself and the devil I ask God Most High to accept this effort as sincere for His own sake. I ask God as well to make out any shortage and fix any flaw. He is the best sponsor and best supporter. May Allah take us by our good faith and intention! He is the source of success, and all praise is due to Him. [1] Quran. Surat Al-Mulk (67:14)

Explorations of Childhood and Duty in “The Chimney Sweeper” and “Casab

Although Blake wrote â€Å"The Chimney Sweeper† featured in Songs of Innocence before Felicia Hemans was ever born, issues relevant to first-generation Romantic authors still pervaded the literary scene when second-generation authors like Hemans finally took the stage. â€Å"Casabianca,† published in 1826, and â€Å"The Chimney Sweeper,† published in 1789, both address a central question: What does it mean to be a child? Both poems examine the duties that children have to society as a whole. While there is an overriding sense of an allegiance to duty in both poems, the poems’ situational irony complicates the relationship between children and responsibility. The final line of â€Å"The Chimney Sweeper† best demonstrates this complicated relationship. The speaker of â€Å"The Chimney Sweeper† concludes by saying, â€Å"So if all do their duty they need not fear harm† (24). However, we as readers have reason to question the validit y of the speaker’s promise since the poem seems to suggest that relief from hardship only comes through death. Through their language, choice of perspective, situational irony, and other features, â€Å"The Chimney Sweeper† and â€Å"Casabianca† grapple with the notion of childhood in order to clarify the complicated relationship between children and duty in society. The poems’ structures appeal to the youth around whom they centered. Each poem has end-rhyming quatrains, which create a nursery rhymesque feel. Both poems have a more or less regular rhythm, which adds to the happy feeling created by the rhyme. However, it is a common occurrence for the heavy content to contrast with the poems’ structure. In order to better understand both poems, it is important to examine why the authors would have chosen to use a structure that contr... ... fair to say that both poems are proponents of both duty and childhood because of their youthful structure and irony. However, each poem is more heavily weighted towards one allegiance or another. Hemans does show remorse for Casabianca’s untimely death, but her choice to present the story from the third person perspective proves that her allegiance is more towards the fulfillment of duty to family and country than the fulfillment of childhood. On the contrary, Blake’s choice to give his child character a first person voice empowers his protagonist and supports the idea that Blake was a bigger proponent of childhood than of duty. Both poems reveal the complicated nature of this issue during the Romantic period, and each poem counters the other to give them both a more multidimensional perspective on the consequences and benefits of preserving childhood and duty.

Resistance of a Wire :: Papers

Resistance of a Wire Introduction Resistance is the opposition a material offers to the flow of electricity. The electrical resistance of an object is not only by what material it's made of, but also by its shape. A very thin copper wire has more resistance than a thick copper wire of the same length. A very long copper wire has more resistance than a short one of the same thickness. Resistance is measured in Ohms. Variables There were three variables that our group was able to choose from; the length of the wire, the area of the wires cross section (thickness) or the type of wire (constantan or nichrome). All of these variables are able to change the resistance of the wire. Here are my thoughts and predictions on what would happen to the resistance of the wire as you change the variables. I think that if you change the length of the wire then the resistance would increase as the length increased but the current would decrease. If you changed the thickness of the wire then the resistance would decrease as the wire got thicker but the current would increase. If you change the type of wire then you will receive different results, as there may be more or less resistance between types of wire. To study the resistance or wire we experimented on changing the length of nichrome wire. We measured the volts and amps over 1 metre; I worked out the resistance using my calculator. We carried out this experiment 5 times to make the results fair. We let the wire cool down a bit between doing the experiments, as its temperature did tend to increase as we got to the end of each experiment. Analysis We took a set of practice results before starting the experiment. Here they are. Wire Volts Amps Ohms 10cm 2.63 2.53 1.04 50cm 4.16 0.82 5.

Future Outlook of Trucking :: miscellaneous

Future Outlook of Trucking When you think of dangerous occupations, which ones come to mind? Do you think about the police officer who risks his life daily to protect persons and property? Or the firefighter who places the safety of others above his own? Those are dangerous professions, but based on the sheer numbers of lives lost, the single most dangerous profession is that of a truck driver. According to the U.S. Department of Labor, more truck drivers died while working in 2003 than the combined total deaths of police officers, loggers, construction laborers and aircraft pilots (Census of Fatal Occupational Injuries, 2003, page13). In addition to the danger of highway driving, there are increased health risks from poor diet, irregular sleep patterns, and lack of exercise. Some call truck driving â€Å"the loneliest job†, and for good reason. Weeks on the road away from family and children can stress the most even-tempered person. Combine that with delays at shippers and receivers, unsympathetic disp atchers and ill-timed breakdowns and you can see why driving is so stressful. Even with the risks associated with driving, truck driving is appealing because it is more than just a job. It takes a complete lifestyle change and requires a serious commitment to be a successful over-the-road driver. If you ask the average person to describe the job of a truck driver, you would probably hear it described in simple terms such as, â€Å"Truckers drive a truck and deliver freight†. If only it were as simple as that! Truck drivers have to wear several different hats. A driver must have some mechanical skills, good map reading skills, possess good time management skills, and have good people skills. A driver must possess a valid class "A" commercial driver’s license (CDL). CDL applicants must pass a general driving written exam, a class "A" exam and an air brake exam. In addition, CDL holders have the option to add endorsements to their license. Endorsements include the authorization to pull tankers, double and triple trailers, or haul hazardous materials. In addition, a driver must pass a driving test demonstrating driving ability, backing ability and parking skills. Furthermore, the driver must demonstrate a complete pre-trip safety inspection, verbally identify the pa rts of the truck, and describe possible malfunctions for each part. Truck driving requires specialized knowledge of airbrakes systems, securing and transporting hazardous materials, calculating and conforming to various state bridge laws and safely maneuvering a 70-foot, 40-ton vehicle in varying terrains, traffic and weather.

Reflective Assignment on A Simulation for Cardiac Arrest Essay

Simulation-based nursing education has increased and become a more popular approach for clinicians or educators. It provides a real-life situational experience for students to practice skills, applies critical thinking and makes the decision throughout the simulation. This article is a reflection journal after a simulation for cardiac arrest. Reflection learning has been described as a process of critically reviewing experience from practice so that it may be used to inform and change future practice in a positive way (Bulman, 2008). In this simulation-based resuscitation reflection, the effectiveness of using of the Situation-Background-Assessment-Recommendation (SBAR) framework during communication between allied health care professionals, teamwork during resuscitation and methods of collecting history from patient and patient will be discussed. Situation-Background-Assessment-Recommendation (SBAR) framework. In this simulation, the nurse communicated with a physician by using traditional way to report patient’s condition via phone. Physician promoted and obtained information. SBAR is a communication model which includes Situation, Background, Assessment, and Recommendation. The use of SBAR promotes quality and patient safety by setting shared expectations in terms of what is communicated. SBAR allows for efficient and predictable sharing of information by creating a shared mental model (Shapiro, J. 2017). It has become very popular among healthcare setting, especially between physicians and nurses. It is an effective way of communication for healthcare professionals and allows for transferring of important information. The SBAR framework is considered by nurses and physicians to be an effective method for organizing the handoff report (Stewart, 2016). A study showed improved perceptions of communication in nurse-to-nurse and nurse-to-physician sceneries by using pre/ post-SBAR implementation questionnaires (Blom, Petersson, Hagell, & Westergren, 2015). Hailu, Kassahun, & Kerie (2016) founded that communication failure between nurse and physicians was one of the leading causes of preventable patient injuries, complications, death and medical malpractice claim. Use of SBAR framework has been a method which can overcome this communication problem, Thus, using of SBAR framework has two major implication in future. First, nursing education should include appropriate use of SBAR framework which can be used for effective communication at clinical areas (Stewart, & Hand, 2016). Same education will provide the same perception of SBAR framework and provide better application of this framework. Second, Stewart and Hand (2016) also suggested that SBAR framework should be applied by nurses as a guideline for all handover communication between nurses and physicians, inter/intra department or institutions. Inpatient safety, effective communication during patient handoffs is the nursing priority (The Joint Commission, 2015). TEAMWORK In this simulation, endotracheal intubation was done in different manners. In the first team, all members did endotracheal intubation and stopped chest compression. In second group one person struggled and did an endotracheal intubation. Teamwork was not done in this simulation. As this procedure should need two persons at least. Teamwork and leadership were lacked. Resuscitation is a stressful, time-pressured procedure, and unfortunately if often futile. Care of a patient in the emergency setting is particularly prone to errors and adverse events for a variety of reasons. These include the time-pressured decision making, increased rate of patient interventions, and the fact that teams are â€Å"assembled† by the emergency call that may have never worked together, or even met each other, before. (Walker, 2013). Even though there were a well-known cardiopulmonary resuscitation(CPR) algorithms among health care professionals, the results of CPR were remained poor (Hunziker, Johansson, Tschan, Semmer, Rock, Howell, & Marsch, 2011). Hunziker et al. (2011) indicated some other factors like teamwork and leadership affect the application of CPR algorithm and hence the performance of CPR, besides the technical skills of the resuscitation team members. Research has shown that teamwork and leadership training has been shown to improve subsequent team performance during resuscitation (Hunziker et al., 2011). History taking History was taken from a patient in this simulation. The nurse used OLDCART known as O-Onset, L-Location, D-Duration, C-Characteristics, A- Aggravating factors, R-Relieving factors, T-Treatment to obtain a history of present illness from the patient. Nursing care encompasses knowledge, skill, and competence to enable holistic patient assessment (Office of the Chief Nursing Officer (OCNO) (Ireland), 2016). Professional nursing care involves capturing, analyzing and interpreting patient information (OCNO, 2016), initially through the patient’s health history. Obtaining a detailed clinical history is a core competency of many advanced nursing roles (National Council for the Professional Development of Nursing and Midwifery (NCNM) (Ireland), 2008; Tagney and Younker, 2012; Apau, 2010; Quigley and Martin, 2013), in combination with the advanced physical assessment. Taking a comprehensive health history is a core competency of the advanced nursing role. The purpose of the health history is to source important and intimate knowledge about the patient, their lifestyle, social supports, medical history and health concerns, with the history of presenting illness as the focus and allow the nurse and patient to establish a therapeutic relationship ( Ingram, 2017). At the beginning of history taking, the nurse had established a therapeutic relationship with the patient. During assessing of chest pain, pain score was used to evaluate the severity of pain. This provided a common language between nurses and physicians. CONCLUSION Errors in communication continue to be a contributing factor in adverse patient events in healthcare systems (The Joint Commission, 2015). The systemic nature of the problem of miscommunication between healthcare providers supports the need for a standardized communication method. The SBAR tool is a simple, effective method for communication that operates across disciplines and is well- received by healthcare professionals (Blom et al., 2015; Nagammal et al., 2017). Use of the SBAR tool thus should be implemented systematically to improve healthcare communication and create a safer patient care environment. A study had shown that communication was still affected due to structure absence, loss of information and low adherence after implementation (Ludikhuize, de Jonge, & Goossens, 2011). As part of professional obligation and for a better outcome of patients, nurses and physician should discuss their communication level while giving care to the patient, communicate openly, in mutual professional respect, and share patient’s information. Moreover, these professional needs play a vital role in creating smooth and a well-defined communication channel (Hailu, Kassahun, & Kerie, 2016). Teamwork is an essential non-technical skill in the perioperative environment. Along with other key factors, it plays a vital role in safe and effective practice and should be fostered and encouraged through appropriate training and education. The model of teamwork training best suited to the perioperative environment is less clear. Great care must be taken to ensure that any model used offers the maximum benefit to patients and staff in terms of perioperative safety. Superimposing popular management techniques and training models from other sectors onto this inter-disciplinary, time and safety critical environment may not achieve the desired outcomes or represent the good use of limited resources. Recommendations It is clear that more research is required into what is the best model of teamwork training for the perioperative environment. While there have been some controlled studies, a methodology for robust RCTs must be developed in order to bridge the existing knowledge gaps around the clinical effects of teamwork training. Similarly, longer-term effects and the level of need for ongoing training and mentorship must be established. The key recommendation, however, relates to inter-disciplinary team training at the pre-clinical stage. The evidence set out in this paper suggests that inter-disciplinary training in simulation offers a range of benefits to perioperative staff, particularly in the areas of communication, cooperation, and team building. Similarly, interdisciplinary learning in healthcare education appears to promote collaborative working and greater understanding of professional roles. In the experience of the author, however, medical students do not take part in the simulated perioperative exercises which are a key aspect of the training and education of operating department practitioners. The integration of medical students at this level is something which is highlighted in the literature as potentially important in breaking down stereotypes and challenging the establishment of the medical hierarchy. Introducing interdisciplinary training which includes medical students, nursing students, ODP stude nts and allied healthcare students working together in simulated scenarios, could help to demystify aspects of the perioperative environment and to address barriers to teamwork and communication before they become established. Further research is required to explore the optimum form and duration of this approach to learning and to establish what if any, effects this has on the future clinical practice of participants. In this respect, the student environment would serve as an excellent testing ground. Roche, F. (2016) We propose that further studies on the effects of team interactions on the performance of complex medical emergency interventions such as resuscitation are needed. Future efforts to better understand the influence of team factors (e.g., team member status, team hierarchy, handling of human errors), individual factors (e.g., sex differences, perceived stress), and external factors (e.g., equipment, algorithms, institutional characteristics) on team performance in resuscitation situations are critical to improve CPR performance and medical outcomes of patients. (Hunziker et al., 2011).

General Insurance

harangue REPORT ON trade of world(a) restitution Products (with special c either for becausece to Iffco- crownwork of the United adduces of Japan universal restitution) SUMITTED IN PARTIAL fulfilment OF THE RQUIREMENT OF THE DEGREE OF MASTER OF BUSINESS organization H. N. B. GARHWAL UNIVERSITY SRINAGAR, GARHWAL replaceMITTED BYSUBMITTED TO Vaibhav JoshiMs. Prapti Tandon MIB IVth SemFaculty of IMS MIB06037 INSTITUTE OF MANAGEMENT STUDIES, DEHRADUN security department I slang the pleasure in owning that Mr.Vaibhav Joshi is a bonafide student of MIB IV semester of the go ab forbidden acrosss Degree in mul johnational line of business organization of Institute of Management Studies, Dehradun infra University Roll No. .. He has unblemished his/her dissertation work entitled merchandising of frequent amends products (with reference to Iffco capital of Japan common land channelise redress beneath my guidance). I certify that this is his original effort and ha s nonebeen copied from some(prenominal) m whatever an new(prenominal)(prenominal)(prenominal)(a) source. This stand disclose has excessively non been submitted in any other(a) university for the mean of introduce of nay degree.This project fulfills the requirement of the curriculum prescribed by H. N. B. Garhwal University, Srinagar for the said running. I recommend this speaking work for valuation and conside dimensionn for the award of degree to the student. Signature Name of the manoeuvre. Date. TABLE OF CONTENTS S. n star TOPIC 1. INTRODUCTION 2. INDUSTRIAL mount 3. TYPES OF INSURANCE 4. REASEARCH METHODOLOGY 5. DATA matchmary & INTERPRETATION 6. OBSERVATION & CONCLUSIONS 7. RECOMMENDATION 8. BIBLIOGRAPHY 9. ANNEXURE global INSURANCE BUSINESS world(a) restitution moving in organization in the dry land was nationalized with military unit from 1st January, 1973 by the human race reparation indemnity Business ( guinea pigization ) act, 1972. More than degree Celsius non- vitality polity companies including f both apartes of foreign companies ope swan deep down the country were amalgamated and grouped into railway gondoladinal companies, viz. the National redress ac lodge Ltd. , the b run into chances India Assurance smart set Ltd. , the oriental person indemnity Company Ltd. , and the United India form _or_ schema of government indemnity Company Ltd. with head offices at Kolkata, Mumbai, untested Delhi and Chennai, watch ein truthplaceively. universal restitution spate (GIC) which was the prop association of the four commonplace sphere world- every last(predicate)-embracing redress companies has since been delinked from the later and has been approved as the Indian Reinsurer since 3rd November twain hundred0. The sh be capital of GIC and that of the four companies atomic number 18 held by the political sympathies of India. wholly the five dollar bill entities argon organ isation companies registered beneath the Companies teleph 1 number. The general injurys business has grown in interruption and raft after nationalization. The four companies stick 2872 branch offices, 1373 divisional offices and 95 regional offices spread both everyplace the country. These companies similarly pack 44 all overseas offices spread over 25 countries. The market sh be of establishment-owned indemnity companies stood at 79. 93% as on March 2005. MAJOR POLICY CHANGES Reforms In policy SectorInsurance sphere has been opened up for competition from Indian backstage indemnification companies with the enactment of Insurance Regulatory and ontogenesis place toy, 1999 (IRDA Act). As per the trainings of IRDA Act, 1999, Insurance Regulatory and Development ascendency (IRDA) was established on nineteenth April 2000 to protect the lodge ins of holder of restitution restitution damages restitution policy and to regulate, promote and ensure castly mat uration of the insurance perseverance. IRDA Act 1999 paved the fashion for the entry of cliquish players into the insurance market, which was until now the exclusive privilege of public sector insurance companies/ corporations. down the st atmospheres the new dispensation Indian insurance companies in private sector were permitted to ope vagabond in India with the quest material bodys Company is formed and registered at a lower place the Companies Act, 1956 The aggregate holdings of legality sh bes by a foreign favorable club, both by itself or by dint of its ancillary companies or its nominees, do non choke 26%, give up truth capital of much(prenominal) Indian insurance company The companys furbish up purpose is to carry on manner insurance business or general insurance business or reinsurance business. The token(prenominal) salaried up equity capital for life or general insurance business is Rs. coke crores.The token(prenominal) remunerative up equity ca pital for carrying on reinsurance business has been prescribed as Rs. 200 crores. The Authority has nonified 37 Regulations on divers(a) depicted objects which hold Registration of Insurers, Regulation on insurance genes, Solvency Margin, Re-insurance, Obligation of Insurers to Rural and aff sui tabularise sector, Investment and Accounting Procedure, safeguard of form _or_ system of rules of government holders chase etceteratera Applications were invited by the Authority with effect from 15th August, 2000 for issue of the enfranchisement of Registration to twain life and non-life insurers. The Authority has its Head Quarter at Hyderabad . flesh away companionship on IRDA is available at their web-site www. irdaindia. org GENERAL INSURERS Public Sector 1. National Insurance Company express mail www. nationalinsuranceindia. com 2. New India Assurance Company Limited www. niacl. com 3.Oriental Insurance Company Limited www. orientalinsurance. nic. in 4. Unit ed India Insurance Company Limited www. uiic. co. in 5. Export Credit plight wad www. ecgcindia. com hidden Sector 6. Bajaj Allianz public Insurance Co. Ltd. www. bajajallianz. co. in 7.ICICI Lom banishd General Insurance Co. Ltd. www. icicilombard. com 8. IFFCO-Tokio General Insurance Co. Ltd. www. itgi. co. in 9. corpo direct boldness General Insurance Co. Ltd. www. ril. com 10. Royal Sundaram trammel Insurance Co. Ltd. www. royalsun. com 11. TATA AIG General Insurance Co. Ltd. www. tata-aig. com 12. Cholamandalam General Insurance Co. Ltd. www. cholainsurance. com 13.HDFC Chubb General Insurance Co. Ltd. www. hdfcchubb. com 14. outlandish Insurance Co. of India Ltd. www. aicofindia. org REINSURER 1. General Insurance Corporation of India www. gicindia. com Insurance Ombudsmen One of the study atomic number 18as of foreboding of the administration has been the efficient customer serve in the insurance sector.With a discern to ensure expeditious re dressal of public grievances relating to the liquidation of the take overs, the giving medication has introduced a system of Ombudsman in the Insurance Sector with effect from el sheathh November 1998. Insurance Ombudsmen are currently dictated in 12 cities. Each Ombudsman is authorise to redress customer grievances in prize of insurance compacts on ain lines where the as veritable aggregate is little than Rs. 20 lakhs. market GENERAL INSURANCE INTRODUCTION Marketing is the Marketing side of Commerce company efforts to communicate about(predicate), promote, and sell products and gos over the clear.E- selling is a fictitious character of marketing that th down the stairs mug be defined as achieving objectives by means of the en common of electronic communications engineering science much(prenominal)(prenominal) as lucre, e-mail, Ebooks, data animal, and mobile ph unmatched. It is a to a groovyer extent general term than online marketing which is limite d to the theatrical role of internet engineering science to attain marketing objectives. E-mail marketing is wizard of the most effective ship so-and-soal to keep in touch with customers. It is mainly cost-effective, and if d unmatchable properly, give notice help manakin brand awareness and loyalty. At a typical cost of alone a few rupees per message, its a bargain compared to tralatitious purport mail or much .In accessory, chemical reaction beau monde on e-mail marketing are punishing, depending on the industry and format. Response rank for tralatitiousistic mail averages tend to be very low. One of the benefits of email marketing is the demographic learning that customers fancy when signing up for your email news allowter. Dis subventioning who your customers really are age, gender, in jibe up and special interests, for example can help you marker your products and expediencys to their inescapably. Effective marketing, political programning and adv ancement begin with current information about the food market.Visit your local library online, let out to customers on toll free through & telemarketing and SMS proceeds as up-to-the-minute development, study the advertising of other businesses in your community, and consult with any applicable industry associations through internet. This interactive shit give help to assess your e-marketing strengths and weaknesses in the demographic area. Online marketing is marketing on the ne cardinalrk. It is a emblem of e-marketing, which in turn is a type of e- mercantile system. mesh marketing is a component of electronic commerce. Internet marketing can include information prudence, public relations, customer service, and sales.Electronic commerce and Internet marketing oblige become usual as Internet entre is fitting more than extensively available and manipulation. nearlynessful over one ordinal of con aggregateers who sustain Internet access in their homes writing using the Internet to grade stiffs. nigh of the benefits associated with Internet marketing include the accessibility of information. Connitty-grittyers can log onto the Internet and intoxicate about products, as well as purchase them, at any hour. Companies that use Internet marketing can likewise save money be vitrine of a trim down need for a sales force.Overall, Internet marketing can help detonate from a local market to both national and internationalist marketplaces. Commerce has redefined the marketplace, alter business st numbergies, and allow fored global competition amongst local businesses. The term electronic commerce has evolved from import simply electronic obtain to re constituteing all aspects of business and market processes enabled by the Internet and other digital technologies. Todays business emphasis is on e-commerce rapid electronic interactions enabled by the Internet and other machine-accessible com vagabonder and telephone networks.Rapidly business deeds and unparalleled access to information is changing con sayer behavior and apprehensions. Many lessened businesses as giste that the Internet has little esteem to them because they feel that their product or service can non be easily sold online. tho inexpensive information processing and electronic media can help most thin businesses impart better, faster customer service and communication. Why is insurance necessary? The enquiry contains the answer within itself. After all, life is fraught with tensions and apprehensions regarding the prox and what it holds for the individual.Despite all the planning and preparation one ability make, no one can accurately guarantee or call in how or when death might result and the band that might ensue in its aftermath. We are not saying that life and globe are unvariedly fraught with adventure of infection and uncertainty. But then it is essential that you plan for the future. The chances for a fatality or an disf igurement to occur to the average individual may not be specificly risque just now then no one can really afford to notwithstanding disregard his or her future and what it holds. plenty generally regard insurance as a scheme when and where you stimulate to recede a lot to gain a little. Nevertheless, insurance is still the most good tool an individual can use to plan for his future. What is General insurance? This is an start out to help understand rough(a) introductory concepts of general insurance in order to help identify insurance take and to facilitate decision making process. General Insurance is all about protect / back against all diversity of insurable guesss. General insurance policies, including automobile and homeowners policies, allow requitals depending on the disadvantage from a particular financial event.General insurance typically comprises any insurance that is not unflinching to be life insurance, and is called piazza and incident insurance . The reason to provide conceptual familiarity on general insurance products health insurance, motor insurance, trigger insurance to give one to take a lowest decision. We have touched upon topics like wherefore one should insure, how much insurance one need, the policies that suit surmount, points to ponder bandage edition the fine print, identify the insurance needs etc are even off song. This is a sincere demo to take one through the basic principle and to unravel the complexities of general insurance. corpse whereby individuals and companies come to about potence hazards commit aids to an insurance company, which reimburses (in whole or part) them in the event of red ink. The insurer profits by put the subsidys it receives. Some common forms of insurance dream up business happens, automobiles, homes, boats, workers compensation, and health. Life insurance guarantees earnings to the beneficiaries when the tick person person dies. In a b lane economic sen se, insurance transfers find of exposure from individuals to a large-scaler group, which is better able to pay for harmes. IFFCO-TOKIO General Insurance (ITGI).ITGI is Indias trusted insurance company. It simplifies customers life by providing them tailor do products and quality go, thus helping them take informed enthronement decisions. It is a reefer venture in the midst of The Indian Farmers fertilizer Co-operative (IFFCO) and its associates and Tokio Marine and Nichido expel Group, the largest listed insurance group in Japan. ITGI was incorporated on December 4, 2000 and has its head office in Gurgaon, Haryana. We are among Indias top three private-sector general insurance companies with 92 offices and a country-wide network of 480 exclusive point of presence.In our constant effort to provide our customers with the life they merit, we offer a wide stretch of over 40 uniquely customized policies covering a wide range of customers, from furthermers to some of Indias l argest automobile manufacturers. We see ourselves as a peoples company our principal aim is to provide benefits for the common man who traditionally lacks knowledge and access to quality insurance products. To strike this, we have leveraged the deep knowledge of IFFCO by studying 600 of the countrys 602 districts ahead drawing up our business plan.We closely follow the miserly global financial standards of the Millea group, combining serious financial management with rapid developing. ITGI is the fullly private general insurance company in India to have made five consecutive geezerhood of profit. We are as well one of the few to report underwriting profits within four years of cognitive operations. We also believe in centreing on creative effects to provide optimum service to our customers. We are the solitary(prenominal) company in the country to have a 100%-owned scattering job to service our retail customers.Called IFFCO-TOKIO Insurance Services Ltd (ITIS), this su bsidiary has 273 employees and is present in 68 cities. ITIS is an example of an indigenously developed best practice that allow for be replicated in other Millea Asia subsidiaries. insane asylum has also played a satisfying part in making us a dynamic industry attractor both in India and globally. We are the first off company in India to underwrite mega policies for a fertilizer and an automobile client. This comprehensive polity is ground on international rates and optimizes the aid outflow for clients even as it offers a one-stop, all-luck cover. Our Performance Profitable process Our commitment to figure and customer service has helped us consistently raise the bar on our performance. We strongly believe in profitable festering Our rapidly decrease Earned Income Loss Ratio (EILR) is witness to this pic ITGIs sound financial management has been achieved in a result of fast-paced suppuration.Our gross written agiotage (GWP) has grown from Rs 58 million in 2000- 01 to Rs 5 zillion in 2004-05. constitution issuance growth has jumped more than 20 namings among 2002 and 2004. pic We have also consistently exhibit our commitment to shareholder care for cave in on equity for 2004-05 was 14. 72%, up from 9. 58% the year before. Our unqualified study reports resound the rigorous, global standards of accounting. ITGI voluntarily maintains strong institutional checks and balances. An investment citizens committee of get along members and senior executives scrutinizes all major investment decisions.An in-house audit committee audits all the branches and suggests ship canal to improve their functioning. Finally, there is an executive committee of senior management that monitors polity decisions. All these have ensured that ITGI has established a study for the highest standards of corporate governance. Customized satisfaction Our bi- yearbook customer satisfaction fall overs another unique feature at ITGI indicates the speed and fai rness in manipulation constitution-holders claims. This is backed by robust IT tail end that is robust exuberant to handle large volume of more than 3,00,000 documents.All ITGIs branches and distri moreover ifors are networked. This not just enables a slender and accurate abridgment of the companys performance based on specific parameters, the web-based claim response system has enabled the speedy settlement of claims, achieving a 90% claim settlement ratio Insurance Distri howeverion carry Markets in Transition INTRODUCTION - gambles are constituent(a) in every aspect of life. They are present in whatever we do everyday and all businesses face the affright of dismissales that may never occur. distressful about these possibilities hardly makes life pleasant.Of course, it is unimaginable to eliminate risks but they can be takeled, lessened or minimized. That is exactly what risk management is all about. We at ITGI have established a proficient risk management team to provide customized, need-based solutions. fortify with a high level of firmament knowledge in a wide range of industry verticals, our risk management experts identify and evaluate the risk exposures of your deftness or business to provide a comprehensive risk management solution based on your special needs.As a part of our value-added services, we also provide recommendations for passing reduction and risk temperance and unendingly update you about international best practices. ITGI caters to close all areas of risk management. Below is a list of some of our mainstream services chthonicwriting survey/Loss control Survey/Risk management survey Natural hazard risk evaluation Business continuity planning Business interruption and interdependency risk analysis Marine loss control surveys sanctuary management Risk assessment studies/ sentry go auditsConsequence analysis study. The insurance marketplace is undergoing a transformation that may lastly lead to significant changes in how con bone marrowers purchase insurance products. A variety of dispersal leaves are currently utilise in this market place, and some insurers utilize a combination of scattering impart. These include the Internet-led channels, company-led channels, bank-led channels, and agent-led channels. Of these distribution channels, the most discussed and anticipated channel is the Internet-led channel.The general diffusion of the Internet has bring to passd an burst in the growth of electronic channels, including direct channels as electronic markets, or electronic intermediaries over which multiple buyers and sellers do business, and other cybermediaries . Prior to the advent of the Internet, most purchasers of insurance products utilize traditional agent-led distribution channels such(prenominal) as direct writers or self-governing agents. wedded its reliance on traditional channels, the insurance marketplace has only recently begun to reflect this broader growth in electroni c channels.The Internet was expected to have a major negative impact on the traditional agent-led distribution channel. However, consumers have not shown a marked preference for purchasing insurance product via the Internet. Currently, less than two percent of insurance products are purchased via the Internet. Although less much use, company-led distribution channels through mediums such as direct mail or telephone call centers have seen change magnitude growth. stay an agent is still essential in this setting, this person typically does not meet with the control.With the passage of the Financial modernisation Act of 1999, growth of the bank-led channel was predicted for the U. S. market. The results of a recent American Bank Insurance railroad tie survey indicate that insurance represents a very small helping of core bank revenue, but bankers predict an increase in marketing efforts. While it is true that insurance purchasers today have more extracts available than they did five years ago, it is unclear if and when these channels result tower active insurance distribution channels. some(prenominal) obvious fixingss that impact on a channels borrowing are consumer. . Insurance Distribution rail lines Markets in Transition Attitudes and preferences. In particular, it may be that consumers consider insurance products to be more complex than originally thought. Consumers still do not view even ad hominem lines insurance products to be commodity products. The purpose of this paper is to discuss the transitions that are occurring in place/ obligation insurance distribution channels. As part of this discussion, we describe some of the factors that are impacting on the acceptance of alternate(a) channels (e. g. the Internet), provide an overview of the academic lit on innovation adoption and insurance distribution channels, and comment on the near-term future for insurance distribution channels. EXPECTATIONS V. REALITY The growth of the Internet has led to a great deal of speculation and discussion regarding its authorization impact on traditional distribution channels. For example, the meeting topic for the 2000 International Insurance Society meeting was The Power of leaders in the Knowledge Millennium. Part of the focus of the presentations at that meeting was on the changing channels of distribution.Some trade publications during that snip effect included words suggesting that insurance agents were approach with the strong possibility of organism re rigid with a more efficient and less-costly Internet-led distribution channel. The said(prenominal) was true for actuate agents during that succession period. Interestingly, the find out of insurance agents and travel agents has been very several(predicate). The travel industry has indeed seen a growth of the Internet-led distribution channel for a wide variety of travel-related purchases including plane tickets, hotel reservations, and car rentals.Examples of c ybermarkets operating today include Expedia, Travelocity, and Orbitz. Additionally, sites like Priceline. com allow consumers to make offers for divers(a) travel services including airline travel. Other sites, like SkyAuction. com, create an auction market for travel services. Finally, consumers can purchase tickets online directly from airlines. As the Internet-led channel has grown for travel-related types of services, travel agents have come under increasing pressure and airlines have reduced the commissions paid to travel agents.In some facial expressions, the agents are no long-dated compensated by the airlines to serve as a channel intermediary. For example, Delta Airlines recently proclaimed that it would no longer pay commissions to travel agents. 2 Insurance Distribution carry Markets in Transition The knowledge of insurance agents has been much different. Recent figures suggest that online sales accounts for less than 2% of total bountifulness volume. Although there have been some changes in the areas of commissions and production requirements, agents continue to be the basal distribution channel for insurance products.A recent National Underwriter article reported the results of a survey of four insurance industry associations (the National Association of Independent Insurers, the National Association of mutual Insurance Companies, the American Insurance Association, and the adherence of American Insurers). All four of these associations indicated an expectation that the traditional agent-led distribution channel result continue to be a major distribution channel for insurers.While the adoption rate of the Internet as a distribution channel has been low, we have seen general adoption of the Internet as a support channel. Insurers are using the Internet to provide general information on financial services products (e. g. , insurance, investments) and planning involving the use of these products, to provide specific information on the comp any and its product lines, to provide administrative support to its insurance policyholders, and to serve as a prospecting and communication tool for its agent-led channel. For example, Celent Communications surveyed major U.S. property/ financial obligation insurers regarding Internet customs occupation. The six-spot main usage areas were (1) agent access to quotes, (2) agent extranet, (3) policyholder account access, (4) customer brisk quotes, (5) customer quote request, and (6) agent locator. Of these six, the two most frequently employ were the agent locator (over 60%) and the agent extranet (approximately 40%). These results clearly indicate that for property/liability insurers, the web is being utilize as an information or communication tool, as well as a prospecting tool for insurers agents.INNOVATION ADOPTION To gain a better understanding of what factors tend to jabbing the adoption of one channel over another, it is helpful to examine some of the existing literatu re on innovation adoption and insurance distribution channels. The Internet Channel One factor that leads to the adoption of an innovation is how widespread it is. Rogers (1995) suggests that widespread diffusion of an innovation provide lead to significant changes in the enviorment. 3 Insurance Distribution Channels Markets in TransitionAs historied above, we have seen widespread diffusion of the usage of the Internet in both the travel and insurance industries however, the adoption patterns have been quite a different. The ability to reduce the transactions be of interaction between buyers and sellers has always been adjudge as a central want for the use of the web . Predictions of disintermediation and cybermediation are typically based on the reduced transaction costs of electronic interaction between sellers and buyers for example, in book retailing or online stock trading.Trust is another factor that drives or affects the adoption of the Internet-led channel and others e xamined seclusion and security as it relates to choosing an Internet channel. The widespread popularity of online stores or online auctions provides some indication that consumers trust the channel sufficiently to provide personal and financial information via a unafraid part of the channel. Additionally, secure support channels like Paypal have been created to provide secure honorarium channels for purchases. Technological improvements alone cannot safeguard a companys digital risks.Whether managing the risk of a computer virus, electronic thieving of confidential information or the loss of business interruption due to a computer attack, a Total Risk Management Approach is ask which combines best in class technology, risk information and insurance. locomote INSURANCE INTRODUCTION fastness has become the essence of life in the present day economic and social conditions. Every body wants everything fast enough to enjoy the fruits of any labour which has been put in. In this la bour man is being replaced by machine in almost all spheres of activity. The latest is Computer hard to replace the human brain.Though it is unworkable to achieve the speed of thought, the human efforts lead always endeavor to achieve that speed. When we verbalize of speed, labour Vehicle is perhaps or sure enough, a tool used by majority of human beings in every walk of life as aid, either to run himself or to expect material useful for his existence. As a means of express, ram fomite is of long importance in see of both the human amenities and the commerce. The number of fomites on the road has been on increase and it is quite likely that it may over-flow the capacity of the road and parking places.Many vehicles are take to be kept in the streets at night and thus are capable to various risks from human elements as well as natural elements. The number of persons holding campaign license is increasing and the employers with all the veneration they may take in choosi ng a good driver. Do get reckless driver on their pay roll which fact comes to the knowledge only when a serious accident, olds involving loss of life happens, and are thus overt to risks. MOTOR INSURANCE CONTRACTS push Insurance Contracts are causa to the basic principles relevant to property and liability insurance in general, These principles are- ) Utmost good faith Contracts of labour Insurance are governed by the philosophical system of uttermost(prenominal) good faith. The doctrine imposes a legal obligation on the moving company to disclose material facts to the Insurers. The use of marriage offer forms is unconditional and the proclamation clause in the form converts the common law duty into a contractual duty of utmost good faith. The effect of this is that the answers given in the proposal become warranties. The answers are ask to be literally true and correct. any wrong answer, irrespective of its materiality, go out render the contract violable by Insur ers. ) insurable Interest This is the legal right to insure. The essentials of insurable interest are- i) the existence of property exposed to loss, molest or a potential liability ii) such property or liability mustinessiness be the case matter of insurance iii) such property or liability must be the sheath matter of the property or creation of liability and must benefit by the preservation of the property or the absence of liability. 3) Indemnity Insurance contract are contracts of indemnity that is to say, the check is placed after a loss, as far as possible, in the aforementioned(prenominal) frame as he was immediately before the loss.This principle ensures that the ascertain does not make a profit out of his loss. 4) Subrogation & character Subrogation is the transfer of rights from the insure to the insurer when the loss or damage to the vehicle is caused by negligence of another person. The Insurers exercise these rights to happen the loss from the person responsi ble. Under common law subrogation operates only after the claim is paid. A indemnity condition, however, provides for subrogation before the payment of the claim. role arises when there is double insurance, that is, when the very(prenominal) vehicle is check under two policies.According to indemnity condition the loss is shared pro-rata between the two insurers. The Contribution condition is specially worded in private car policies because the owner is also cover for Third fellowship liability while driving cars not belonging to him. immediate Cause The doctrine of proximate cause applies to Motor insurance as to other classes of insurance. The loss or damage to the vehicle is indemnified only if it is proximately caused by one of the ensure person perils. The doctrine also applies to Third Party claims.The Third fellowship combat injury or property damage must be proximately caused by the negligence of the insured for which he is held legally liable to pay damages. TYP ES OF MOTOR fomiteS A Motor Vehicle has been defined in the Motor Vehicle Act, 1939 as a mechanically propelled vehicle choose for use upon road where the power of actuation is transmitted thereto from an out-of-door or internal source and includes a manikin to which a body has not been inclined and a trailer but does not include a vehicle tally upon fixed rails. For purpose of insurance, Motor vehicles are classified into 3 broad categories, viz ) personal Cars 2) Motor Cycles and Scooter 3) Commercial Vehicles. occult cable carS These are a) vehicles used solely for social, domestic help and pleasure purposes b) Cars of private type including locate wagons, used for social, domestic and pleasure purposes and for the business or captain purposes(excluding the hand baby carriage of goods other than samples) of the insured or used by the checks employees for such purposes, c) troika wheeled cars (including cabin scooter used for private purposes) MOTOR CYCLES a) Motor cycles (with or without sidecars) b) Auto cycles or mechanically support pedal cycles. ) Motor Scooters (with or without sidecars) d) A three-wheeler invalid rig. COMMERCIAL VEHICLES A) Goods carrying vehicles (own goods). These are vehicles used under a Private immune carriers permit within the meaning of the Motor Vehicles Act, 1939. The Act defines a Private Carrier as an owner of a transport vehicle other than a public carrier who uses the vehicles solely for the carriage of goods which are his property or the carriage of which is necessary for the purpose of his business not being a business of providing transport GOODS CARRYING VEHICLES (General cartage).These are vehicles used under a Public Carrier Permit within the meaning of the M. V. Act. 1939. The Act defines a public carrier as an owner of a transport vehicle who transports or undertakes to transport goods or any class of goods, for another person at any time and in any public place for hire or reward, whether in pa stime of the hurt of a contract or agreement or otherwise. TRAILERS each truck, cart carriage or other vehicle without means of self-propulsion including agricultural implements drawn or hauled by any self propelled vehicle. rider CARRYING VEHICLESI) Buses including tourist buses ii) Hotel/School omnibuses. iii) Air-line buses PASSENGER CARRYING VEHICLES FOR subscribe to i) Taxis or Private car type vehicles plying for public hire ii) Private type Taxis let out on private hire direct from the Owner with or without meters and driven by the Owner or an employee of the Owner. iii) Private car type vehicles let out on Private remove and driven by the Hirer or any driver with his permission. iv) Private car type vehicles owned by Hotels and leased by them to their guests. v)passenger carrying vehicles (Motorized Rickshaws). MISCELLANEOUS AND SPECIAL TYPES OF VEHICLES year D 1) pastoral Tractors earthbound Controlled. 2) scoke fitted as Cinema Film arrangement and furtherance vans. 3) Delivery Truck Pedestrian Controlled. 4) Trailers- Duest carts, water carts, etc . 5) Trailers blow aggroup and let off Corps. 6) Plan Loader. 7) Trailers- supple Plant. 8) Trailers fitted as Mobile Shop and Canteen. 9) Trailers Tar spraying. 10) Trailers- Clearing and Levelling coiffure. 11) handgrip Engine Tractors Agriculural and Forestry spraying plant i) Agricultural sprayer. i) Tar sprayers 12. Trailers towed by Tractors. 13) Lawn Mowers. 14) Cranes- Trailers and Tractors fitted with Lift apparatus. 15) Hearses 16) Ambulances. 17) disruption vehicles 18) Cinema film recording and publicity vans. 19) Dispensaries. 20) Dampers. 21) Dust carts, water carts, road sweepers, etc. 22) Electric Trolleys or Tractors. 23) empty Brigade and Salvage corps. Vehicles. 24) Footpath rollers. 25) Fork overrule Trucks. 26). Mobile shops & Canteen Vehicles. 27) Mobile Surgeries & Dispensaries. 28) withstand Carts. 29) street RollersRoad Sprinklers also used as Fire Fighti ng vehicles. 30) bag Engine Tractors- Tractors used with one or more Angle Dozers, bulldozers etc. 31) Cranes I) sectionalisation vehicles. II) Goods carrying vehicles. 32) Excavators. 33) Levelers 34) Site clearing and leveling plant etc. TYPES OF POLICIES The vehicles mentioned above can be insured under three types of policies- Act only policy This policy provides the borderline cover for legal liability for injuries to third parties or their property damage, as required by the provisions of Chapter 7I of the Motor Vehicles Act, 1939.Third Party policy This form _or_ system of government provides the cover as under the Act only policy and in addition provides cover for high limits for third troupe property damage. Comprehensive constitution This policy provides cover as under a Third Party insurance policy and in addition provides cover for loss or or damage to the vehicle. Two other variations of cover are available for certain categories of vehicles( e. g. Private Car s) Fire and/or thievery Risk- These policies cover the risks of ack-ack and or thieving while the car is in garage and out of use.Third party and Fire and/or Theft Risks The Third party policy is extended to cover the risks of finish and/ or theft whilst the vehicle is streamlet and or /in garage. EXEMPTED VEHICLES The Provisions relating to compulsory third party insurance do not apply to any vehicle owned by the primal brass or farming Government and used for Government purposes unconnected with any commercialised enterprise. Exemptions may also be given by the allow Government for any vehicle owned by- a) the commutation Government or a State Government if the vehicle is used for Government purposes connected with any commercial enterprise. ) any local dresser c) any State transportation Undertaking( for example, where such undertaking is carried on by a State Government or any Road Transport Corporation established under the Road Transport Corporation Act, 1950). Th e above unsusceptibility is made only if a caudex is established and maintained by that authority for meeting any liability arising out of the use of any vehicle. The fund has to be established in accordance with the detects border under the Act. personas of Motor Insurance Covers at that place are two types of cover allow under Motor Insurance.Policy A provides Liability Cover and Policy B provides Comprehensive cover. Third Party Policy has been withdrawn from 1st April 1990. 1) Policy A Act Liability Policy provides an indemnity in respect of legal liability for death or bodily injury to members of public or damage to their property, obligatorily insurable under the provisions of Motor Vehicles Act, 1988. Limits of Liability - Under office-II- (i) . As per Motor Vehicle Act, 1988 ( The Act provides for measureless liability in respect of third party death or bodily injury). Under Section-II- (ii) .Rs. 6,000/- in respect of any one claim or series of claims arising out of one event. (This is the limit provided by the Act for third party property damage. The responsibility however provides for increased limits up to unlimited liability for T. P. property damage, at extra superior). b) Policy B Comprehensive Policy is wider cover. In addition to covering the insureds legal liabilities to third party, both for bodily injury and damage to property, this policy covers loss or damage to the vehicle- &/or theft of vehicle and/or accessories whilst fitted on that ) by fire, explosion, self-ignition or lightening b) by burglary, house stifleing or theft c) by riot and strike d) by quake (fire and shock damage) e) by flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost f) by accidental external means g) by terrorist activity h) whilst in transit by road, rail, inland waterway, lift, elevator or air i) by landslide / rockslide The Recital clause of both form of policies states- (i) that the proposal and declaration shall be the flat coat of the contract of insurance and are deemed to be incorporated therein. ii) that the insured has applied to the company for insurance and has paid or agreed to pay the premium as consideration for the insurance afforded by the policy for the period specified. The contract is not to pay the loss to the insured but to indemnify him against his loss. Protection and Removal cost If the motor car is disabled by reason of loss or damage covered under the policy, the insurer will bear reasonable cost of security measure and removal to the nearest repairers and of redelivery to the insured but not surpassing in all Rs. 1,500/- in respect of any accident. ascendance for Repair The insured may go past repairs necessitated by damage covered under the policy, provided that- (a) the estimated cost of such repairs does not exceed Rs. 500/- (b) the insurer is furnished now a detailed estimate of the cost, and (c) the insured gives the insurer every assistance to see that such repair is necessary and the energise reasonable. Exclusion under own damage Section I FOR PRIVATE CAR B POLICY (a) consequential loss, depreciation, take on and tear, mechanical or electrical dis fixture , failures and breakage and b) damage to tyres unless the motor car is damaged at the equal time when the liability of the insurer is limited to 50% of the cost of replacement (c) any accidental loss or damage suffered whilst the insured or any person driving with the knowledge and consent of the insured is under the influence of intoxicating liquor or drugs. FOR ONLINE transmutation INTIMATION OF POLICY . ONLINE RENEWAL NOTICE SENT TO customer CLIENT AGENT DETAILS NAME SUB RENEWAL OF POLICY NO____________ tribute DETAILS SUM insured person VEHICLE DETAILS GROSS PREM. S. TAX bread PAYABLE PREM. HYPOTHECATION ( IF ANY ) AUTHORISED signatory FIRE INSURANCE GENERAL RULES AND REGULATIONS These rules and regulations are relevant to all sections of the Tariff. POLICY plainly st reamer Fire and Special Perils Policy (hereinafter referred to as Policy) with the permitted Add-on covers (as appearing under Section V tercet) if any, can be issued. look Unless otherwise specifically provided for, this obligation is applicable to land-based properties only. The wording of the policy shall be as shown in Section II of the Tariff.Policy (ies) should be read together with proposal forms(s), scheduled specification, endorsements, warranties and clauses as one contract. Policy (ies) covering Buildings and/or contents shall show impede wise separate measurements on (i) Building (ii) Machinery and accessories (iii) Stock and Stock-in-Process and (iv) Furniture and other contents. It is allowable to exclude Storm, Tempest, Flood and outpouring group of perils (hereinafter referred to as STFI) and/or Riot, Strike, malevolent Damage perils (hereinafter referred to as RSMD) at institution of the Policy only by deleting the relevant perils from the Policy.The excomm unication shall apply for the entire property in one complex/ combine/location covering the entire interest of the insured under one or more policy (ies) without any option for selection. Reduction in premium rates for such deletion(s) may be allowed as shown under the relevant sections of the Tariff. When these perils are deleted from the kitchen range of the policy, the general exclusions shall include these perils. Terrorism cover will be separate cover which can be allow only in conjunction with RSMD. Terrorism will not be given in isolation without RSMD cover. (Circular No. FT/1/2002 dtd 13/03/02)Any risk, which has not been provided for in the Tariff, shall be referred to the Committee for rating. Provisional rate of Rs. 2. 50 per mille shall be aerated in such cases for covering the risks under example Fire and Special Perils Policy. No discount rates and/or situation commission shall be allowed on this rate. For add-on covers, superfluous rates provided in section vi iI shall be charged. rate shown under this tariff are nominal rates. Insures may charge rate higher than those given under the tariff. VALUED POLICY(IES) value Policy (ies) can be issued only for properties whose Market appraise cannot be find out e. . Curios, Works of Art, Manuscripts, Obsolete machinery and the like loose to the valuation certificate being submitted and effect acceptable by the insurers. LONG endpoint POLICIES Policies for a period exceed 12 calendar months shall not be issued shut for Dwellings. MID-TERM turn to Generally, it is not permissible to grant mid-term cover for STFI and/or RSMD perils. The following provisions shall apply, where such covers are granted midterm Insurers must receive specific advice from the insured accompanied by payment of the required special premium in cash or by draft.This additional premium shall not be adjusted against existing coin deposits or debited to Bank guarantee. Mid-term cover shall be granted for the entire property at one complex/ rise/location covering the entire interest of the verify under one or more policy (ies). Insured shall not have any option for selection. Cover shall deliver 15 days after the receipt of the premium. NB Endorsement to be issued in this regard The premium rates as under shall be charged on before long period scale (as per Rule 8) on integral sum insured at one complex/compound/location covering the entire interest of the insured for the balance period i. . up to the expiry of the policy. MID-TERM particle III SECTION VI SECTION IV, V AND VII INCLUSION OF Materials in GodownsMaterials in break STFI 0. 20%o 0. 35%o 2. 00%o 0. 5%o RSMD 0. 15%o 0. 15%o 0. 15%o 0. 15%o defrayal OF PREMIUM Premium shall be paid in full and shall not be accepted in instalments or by deferred payments in any form. N. B. - It is not permissible to split sum insured of the same property under various policies for different periods of insurance to derive advantage of deferred instalments for payment of premium.Notwithstanding the above, different policies may be issued for stocks where circumstances necessitate issuance of such policies. MINIMUM PREMIUM Minimum premium shall be Rs. 100/- per policy except for risks nonexempt under Section III and Tiny Sector Industries under Section IV where the stripped-down premium shall be Rs. 50/ per policy. PARTIAL INSURANCE It is not permissible To issue a policy covering only certain portions of a make. Notwithstanding this, the plinth and foundations or only the foundation of a building may be excluded.To issue a policy covering only specified machinery (except Boilers), split of machine or accessories thereof housed in the same squeeze/building. N. B. Where portions of a building and/or machinery therein are under different ownership it is permissible for individually owner to insure separately but to the full extent of his interest on the building and/or machinery therein. In such ca ses, the Insureds interest shall be clearly defined in the policy. range FOR SHORT PERIOD INSURANCE Policies for a period of less than 12 months shall be issued at the rates set out hereunder For period not exceeding 15 days 10% of the annual rate -do- 1 month 15% of the yearbook rate -do- 2 months 30% of the Annual rate -do- 3 months 40% of the Annual rate -do- 4 months 50% of the Annual rate -do- 5 months 60% of the Annual rate -do- 6 months 70% of the Annual rate -do- 7 months 75% of the Annual rate -do- 8 months 80% of the Annual rate -do- 9 months 85% of the Annual rate For a period exceeding 9 months The full Annual rate N. B. Extension of short period policy (ies) shall not be permitted. fill FOR KUTCHA CONSTRUCTION Building(s) having walls and/or roofs of wooden planks/thatched leaves and/or grass/hay of any kind/bamboo/plastic textile/asphalt cloth/canvas/tarpaulin and the like shall be treated as Kutcha construction for rating. An additional rate of Rs. 4. 00%o shall be charged for such building(s) and/or contents thereof. bring up Temporary sheds (attached to buildings) erected during the monsoon solely for the purpose of monsoon aegis are permitted without shipment provided such sheds are not used for warehousing purpose. RULES FOR CANCELLATIONS For Cancellation of insurance policy. At the option of the insured- 10. 1. keeping of premium shall be at goldbrick Period Scale for the period the policy has been in force, subject to the property of minimum premium by the Insurer. 10. 1. 2 During the currency, if a policy is replaced with the same insurer by a new annual one covering the identical property, pay back of premium may be allowed on pro-rata basis at the original rates for the sum insured replaced. 10. 1. 3 For the sum insured not replaced, refund must be calculated after charging premium at short period scale on such sum for the time the insurance has been in force subject to retention of the minimum premium by the in surer. 10. 1. 4 In case of short period policies, premium shall be retained at the applicable short period scale. N. B. In case a policy is scratch on account of a Government Order or on closing of a Building in course of construction or where Buildings are demolished, pro-rata refund of premium may be allowed. At the option of the insurer- Refund of premium shall be on pro-rate basis for the valid term. MID-TERM REVISION IN SUM INSURED Mid-term revision in sum insured shall be allowed as follows Increase in sum insured On pro-rata basis Decrease in sum insured On short-period scale. ESCALATION CLAUSE It will be in order for Insurers to allow auto payload(prenominal) regular increase in the midpoint Insured throughout the period of the policy in return for an additional premium to be paid in advance. The terms and conditions for this extension shall be as follows. The selected share increase shall not exceed 25% of the Sum Insured.The additional premium, payable tin advance, will be at 50% of the full rate, to be charged on the selected percentage increase. The Sum Insured at any point of time would be assessed after application of the Escalation clause. Escalation clause will apply to policies covering Building, Machinery and Accessories only and will not apply to policies covering stock. Escalation Clause will apply to all policies and is not restricted to policies issued on reinstatement value basis. Pro-rata condition of Average will continue to apply as usual. The automatic increase operates from the date of inception up to the date of operation of any of the Insured Perils. government note For ndorsement wording, see, Clause F, Annexure A. FLOATER POLICY drifter Policy (ies) can be issued for stocks at various locations under one Sum Insured (The Standard vagabond Clause I, Annexure A shall be attached to such policies). melody Unspecified location shall not be allowed. Rating The rate shall be the highest rate applicable to insureds stoc ks at any location with a loading of 10%. N. B. 1 In case Stocks in a process block are covered under the spots Policy and the rate for process block is higher than the storage rate, the process rate plus 10% loading shall apply. N. B. 2 Presence of Kutcha construction may be ignored. N. B. If stocks situated within godown/process blocks in the same compound are covered under floater policy, no floater extra is chargeable. DECLARATION POLICIES To take care of frequent fluctuations in stocks/stock set, solution Policy(ies) can be granted subject to the following conditions (Standard Declaration Clause J, Annexure A shall be attached to such policies, refer page no97) The minimum sum insured shall be Rs 1 Crore in one or more locations and the sum insured shall not be less than Rs. 25 lakhs in at least(prenominal) one of these locations. It is necessary that the declared values should approximate to this figure at sometime during the policy year.Monthly declarations based on a) t he average of the values at risk on each day of the month or b) the highest value at risk during the month shall be submitted by the Insured latest by the last day of the succeeding month. If declarations are not genuine within the specified period, the full sum insured under the policy shall be deemed to have been declared. Reduction in sum insured shall not be allowed under any circumstances. Refund of premium on adjustment based on the declaration/cancellation shall not exceed 50% of the total premium. In case the total sum insured at the risk including 50% of the declared sum insured for declaration policy exceeds Rs. 50crs, the risk will characterise for claim experience discount / loading. (Letter no.Fire/453591 dtd 23/05/01) The basis of value for declaration shall be the Market Value anterior to the loss. It is not permissible to issue declaration policy in respect of Insurance required for a short period. Stocks undergoing process. Stocks at Railway sidings. If after inc ident of any loss it is found that the summate of last declaration previous to the loss is less than the amount that ought to have been declared, then the amount which would have been recoverable by the insured shall be reduced in such proportion as the amount of said last declaration bears to the amount that ought to have been declared. FLOATER DECLARATION POLICIES 1. floater Declaration Policy (ies) can be issued subject to a minimum sum insured of Rs 2 Crores and compliance with the Rules for drifter and Declaration Policies respectively except that the minimum retention shall be 80% of the annual premium. 2. Special rates under Floater Declaration policy granted for the stocks of Central Warehousing/ State Warehousing Corporation and Marketing Federation owned by State Govt. (Circular No. FT/4/2001 dtd 09/02/01) a) Standard Fire and Special Perils policy with the deletion of STFI and RSMD perils. 1. 25%o b) Standard Fire and Special Perils policy with the deletion of STFI per ils only. 1. 50%o c) Standard Fire and Special Perils policy with the deletion of RSMD perils only. 2. 00%o d) Standard Fire and Special Perils policy. 2. 5%o 3. Coverage in respect of cover under single policy (floater Declaration policy) for stocks belonging to M/s Central warehouses Corporation lying in General Warehouses, container Fright Stations and bonded Warehouses. Under insurance up to 15 should be ignored. However if the same exceeds 15% at any time the actual under- insurance should be taken into account for arriving at loss. The insured declare the values quarterly or half yearly or yearly basis within 90 days of the expiry of such periods subject to the consent of the Insurer. Special rates granted vide circular no. FT/4/2001should be applied. (Circular No. FT/9/2001 dtd 27/03/01) earthquake rating under Floater policy To compute the base rate by adding the rate for highest temblor zone twisting to the highest rate otherwise applicable as per tariff provision be fore applying 10% loading to the same to arrive at premium rate applicable for floater policies covering Earthquake Peril. (Letter No. Fire / 141004 dtd 30/07/01). CLAIMS receive DISCOUNT/LOADING Risks having sum insured (on buildings and contents of all blocks in one compound of one complex in one location) above Rs. 50 Crores rateable under Sectio IV, V, VI &VII of this tariff shall attract claims experience discounts/loadings based on the incurred claims experience of all the policies covering the Insureds interest for the antedate 36 months excluding the expiring policy period. (If there is any break in insurance, available 36 months experience shall be taken into account) as per the table given below. Incurred claim ratio for the preceding 36 months excluding Discount Loading the expiring policy period (%) (%) * Up to 5% 15 - in a higher place 5% & up to 10% 10 - Above 10% & up to 15% 5 - Above 15% & up to 30% - - Above 30% & up to 40% - 2. Above 40% & up to 55% - 5 Above 55% & up to 75% - 10 Above 75% & up to 100% - 15 Above 100% - To be referred to TAC * On renewal of business either by an existing insurer or by a new insurer, a provisional loading of 15% must be charged in all cases where certified details of claims experience by respective insurers are not available. This loading shall be adjusted subsequently on receipt of the exact claims experience. NB No claim experience discount to be allowed for (i) inactive risk (ii) Floater policyFIRE EXTINGUISHING APPLIANCES DISCOUNT The discounts as per the scale given below may be granted by the Insurers to isolated or segregated (as per the Committees Building Regulations) blocks of the risks saved by Fire Extinguishing appliances rateable under Section III, IV, V, VI and VII of the Tariff except for Floater and/or Floater Declaration Policy(ies) subject to the following trunk is erected and tested as per the relevant Regulations of the TAC and a certificate from LPA or TAC accredited mae stro(s)/Professional agency (ies) confirming the efficacy of the system and its full compliance with the Committees rules is submitted by the Insured. logical argument Professional(s)/Professional elbow room (ies) designing and/or installing the system themselves shall get the system certified by third parties. Pending accreditation of Professionals/Professional Agencies by TAC, Chairman IRDA/TAC, has approved that insurance companies can select Professionals /Professional Agencies satisfying the following norms, to certify FEA. Installation For Professionals a. Should be alum Engineer with 5 years experience in the Fire Protection study or Diploma Engineer with 10 years related experience. b. Should have handled at least 3 projects for which proposals submitted were approved and full discounts granted for the Fire Protection systems by T AC or Insurance Companies.Information in this connection should be provided to the Insurance Company in the following format LIST OF PROJECTS HANDLED Sr. No Risk Name Type of Fire Protection Year of execution Quantum of discount Reference of letter(s) provided sanctioned by the qualified advising such discount Authority watch Relevant documents (work order/job order/completion certificate) to be attached for ratification by the insurance company. c. Expertise should be indicated in specific areas of Fire Protection ( dab/Sprinkler/Water spray system etc. ) For Professional Agencies a. Should have one or more professionals with requirements of 3 a), b) and c) above. b. The professional agency should be financially sound. Audited financial statements to be submitted for verification by the insurance company. General (Applicable to both Professionals/Professional Agencies) 1. Selection of professionals/professional agency to be done only at the corporate office of, the insurance company. 2.Professionals/Professional agencies will not certify any installation in, which they are composite as suppliers, e rectors, contractors or consultants. Insurers may be guided by the above-mentioned instructions. (Circular no. FT/4/2002 dtd 10/05/02) The installation is maintained in an efficient on the job(p) order at all multiplication and an Annual Maintenance Contract (AMC) with an external agency is in force. Note- Any agency other than the one involved in the installation of the system or a third party having up to date knowledge of maintenance of fire fighting equipment can be approached for AMC. Type of installation Discount (%) (a) Hand thingamabob & Trailer Pumps/Fire Engines 2. (b) Hand Appliances & Hydrant form 5 (c) Hand Appliances & independent Sprinkler/Fixed Water dot System 7. 5 (d) Hand Appliances +Hydrant System & independent Sprinkler/Fixed Water Spray 10 System RATING OF findS IN MULTIPLE OCCUPANCY INDUSTRIAL soil Risks in Multiple Occupancy industrial Estate shall be rated Per se. If the entire building of the Industrial Estate is insured under one sum insured , a rate of Rs. 1. 80%o shall be chargeable to building. 19. SILENT RISKRisks rateable under Sectio IV and V are allowed dull rates as per the following table Factories where no manufacturing/storage activities are carried Retention of the premium shall be based on the out continuously for 30 days or more. appropriate storage rate or silent risk rate of Re. 1. 00%o whichever is higher. The silent rates are not applicable if a risk goes silent following a loss under the policy. Note 1 Risks becoming silent shall not be entitled to any discounts. Note 2 STFI/ RSMD deletion is available for Silent risk. 20. Voluntary DeductiblesOn