Amity School of Insurance, Banking and Actuarial Sciences organises Seminar on “Liability Insurance”

Amity School of Insurance, Banking and Actuarial Sciences organized a Seminar on the topic “Liability Insurance” at Amity University Campus, Sector-125, Noida. Eminent speakers from the Insurance industry shared their experiences with students. Insurance sector has grown big in a decade thus an understanding of its working is required to give the right guidance to Amitians.

Welcoming the gathering Prof. R.R.Grover, Director, Amity School of Insurance,Banking and Actuarial Sciences said that as every coin has two faces, similarly every field has its pros and cons, therefore students of Banking, Insurance and Actuarial Sciences must be aware of both the faces of these industries. This industry is crucial since the capital incurred is from the public sector, which imposes more responsibility on the industry people, added Prof. Grover. “Consequences of Insurance industry should be understood at priority to exist, survive and grow in this industry” he remarked.

Mr. Ritesh Kumar, CEO and MD, HDFC Ergo General Insurance Co. shared his views about Insurance Industry and said that students should understand two main concepts while considering Insurance sector as a profession A) General Insurance and B) Liability Insurance. He said General insurance comprises of non-life insurance policies, including automobile and home owner’s policies and release payments depending on the loss from a particular financial event. Whereas Liability Insurance comprises of any type of insurance policy that protects an individual or business from the risk that they may be sued and held legally liable for something such as malpractice, injury or negligence, added Mr. Kumar.

Mr. R. Chandrasekaran, Secretary General, General Insurance Council addressed the august gathering and shared his experiences with the students in a very interesting way. His major concern was to introduce students with the Issues and Challenges of Insurance Industry. “As now Insurance industry has grown big in India thus the competition has also been increased, which leads to many challenges on the work front” he said. “Insurance industry gives immense opportunities to grow, in a short span of time an understanding about how to build up the career in this industry is opportune” he added.

While addressing the gathering Dr. Balvinder Shukla, Acting Vice Chancellor, Amity University Uttar Pradesh said that if anyone needs to survive in the competitive Corporate world then one has to understand the level of the competition.” To give a tough competition to others one should have the courage to learn and relearn” she added. “Nowadays in many Corporate the freshers are given just few days training and then introduced to their targets to be achieved, therefore the official life begins soon”. “Knowledge is the only key to beat any competition and achieve targets on time” she remarked.

Other prolific industry guests which interacted with the students during the day long Summit included Ms. Anupama S. Kurup, Liability Underwriter Insurer: Bajaj Allianz General Insurance Co. Ltd., Ms.Deepika Mathur, Chief Underwriter Liability Insurer: HDFC Ergo General Insurance Co. Ltd.and Ms. Anita Pandita, Chief Underwriter Insurer: ICICI Lombard General Insurance Co. Ltd. and others.

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