List Of Insurance Schools In Namibia

List Of Insurance Schools In Namibia

What is the definition of Insurance?

Insurance is a contract, represented by a policy, in which an individual or entity receives financial protection or reimbursement against losses from an insurance company. The company pools clients’ risks to make payments more affordable for the insured

Overview

Insurance is a term in law and economics. It is something people buy to protect themselves from losing money. People who buy insurance pay a “premium” (often paid every month) and promise to be careful (a “duty of care”). In exchange for this, if something bad happens to the person or thing that is insured, the company that sold the insurance will pay money back. (However, there are some times when the company will not have to pay money back, such as if the person was not careful).

List Of Insurance Schools In Namibia

Insurance Institute Namibia

National Institute of Technology – NIT (previously called The Centre for Training & Projects Development (Pty) Ltd)

PwC’s Business School Namibia

Frequently Asked Questions (FAQs)

What is the purpose of this insurance?

Insurance is a contract in which an insurer promises to pay the insured party a sum of money if one or more specified events occur in the future, in return for regular small payments – known as premiums. The purpose of insurance is to reduce your business’ exposure to the effects of particular risks.

Can you get a degree in insurance?

The most common insurance degree programs are bachelor’s-level programs. However, there are also associate’s, master’s and doctoral degree programs available. At some levels, insurance can be an area of concentration or specialization in a management or business administration program.

What degree is good for insurance?

Insurance Salaries

Many insurance careers require only a high school diploma for entry, while higher-level workers will hold a master’s degree. The range in academic qualifications needed means there is a corresponding range of salaries available in the subsector.

What are the 7 types of insurance?

7 Types of Insurance are;

• Life Insurance or Personal Insurance, 
• Property Insurance,
• Marine Insurance,
• Fire Insurance, 
• Liability Insurance, 
• Guarantee Insurance.
• Insurance is categorized based on risk, type, and hazards.

What are the benefits of insurance?

The obvious and most important benefit of insurance is the payment of losses. An insurance policy is a contract used to indemnify individuals and organizations for covered losses. The second benefit of insurance is managing cash flow uncertainty. Insurance provides payment for covered losses when they occur.

What are the principles of insurance?

Principles Of Insurance

• Utmost Good Faith.
• Proximate Cause.
• Insurable Interest.
• Indemnity.
• Subrogation.
• Contribution.
• Loss Minimization.

Does everyone need insurance?

The goal of health care reform is to make health insurance affordable and available to all Americans. And the law requires nearly all Americans to have health coverage. Most coverage satisfies this requirement, including: Children’s Health Insurance Program

How do insurance companies make their money?

Most insurance companies generate revenue in two ways: Charging premiums in exchange for insurance coverage, then reinvesting those premiums into other interest-generating assets. Like all private businesses, insurance companies try to market effectively and minimize administrative costs

What are the disadvantages of insurance?

Disadvantages of Insurance

• It does not compensate all types of losses which caused baisness to insured by insurance company.
• It takes more time to provide financial compensation because lengthy legal formalities.
• Although insurance encourages savings, it does not provide the facilities that are provided by bank.

What type of life insurance is best?

Whole life insurance is more complex and tends to cost more than term, but it offers additional benefits. Whole life is the most well-known and simplest form of permanent life insurance, which covers you until you die. It also provides a cash-value account that you can tap for funds later in life.

What are benefits of insurance to the society?

• Insurance is an important risk mitigation device.
• Insurance companies provide the required funds for infrastructure development.
• It provides a sense of security.
• Insurance provides security to the insured during his life and to his dependents.
• It provides employment opportunities.

What jobs can you get with a risk management insurance degree?

Career Pathways

• Claims Investigator.
• Loss Prevention Field Representative.
• Risk Manager/Analyst.
• Sales Agent/Broker.
• Underwriter (Risk Selection)
• Marketing Representative.
• Customer Service Representative.
• Information Technology.

What education do you need to be a risk manager?

You will need at least a bachelor’s degree in business, mathematics, or complete a dedicated risk management program at an accredited school. These degree programs provide you with advanced financial management and business skills you will use throughout your career