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Veteran
Rehmanjee launches book on “Understanding Insurance”
The
book titled “Understanding Insurance” by industry veteran
and Director of Union Assurance (UAL) Hydery A. Rehmanjee was launched
last week.
UAL Chairman Ajit Gunewardene and other Directors including Director
and CEO Mrs. Marina Tharmaratnam were also present at the occasion.
“Understanding Insurance” is the second book on Insurance
authored by Mr. Rehmanjee. The first book titled “Understanding
& Analysis of Insurance Accounts” was launched in December
2003.
The insurance business, to many, appears to be surrounded in mystery.
In his book titled “Understanding Insurance” Mr. Rehmanjee
explains, in simple language the principles and practices of insurance.
The author describes how the business of insurance operates in an
environment in which existing risks are changing and new risks emerging
as insurers endeavour to fulfill the basic purpose of insurance,
which is to spread the losses of the few amongst the many.
No insurer can commence or continue in business without the support
of reinsurance, which briefly is, insurance for insurers. This subject
has therefore also been included in the book.
The financial strength and solvency of insurers, as well as adequate
and effective insurance regulations and regulators, are as important
as the insurance business itself, in promoting the confidence of
the public in insurance as a necessary protection and savings mechanism.
The author has analysed and explained these critical areas of the
insurance business in separate chapters in the book.
The cartoons at the end of most of the chapters should provide some
welcome humour. However, they have a meaningful message.
A comprehensive insurance glossary has been included at the end
of the book.
The book “Understanding Insurance” can be purchased from;
Union Assurance Centre - No. 20, St. Michael’s Road, Colombo
3 and Union Assurance offices islandwide. Sarvodaya Vishva Lekha
Book World - 1072, Maradana Road, Colombo 8 Sri Lanka Insurance
Institute - 143, St. Michael’s Road, Colombo 3 and leading
Book Stores.
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