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1. Introduction 1.1 Background of the Report This report has been prepared as a requirement of the insurance and risk management course. The report was based upon the overall insurance company’s problems and prospects in Bangladesh. I was duly approved by our Course Teacher Mrs. Naznin Fatema. This report will help us know about the insurance business problems and prospects in Bangladesh. Insurance is a system of spreading the risk of one to the shoulders of many. It can be defined as a co-operative device to spread the loss caused by a particular risk over a number of persons who are exposed to it and who agree to ensure themselves against that risk. It is a contract whereby the insurers, on receipt of a consideration known as premium, agree to indemnify the insured against losses arising out of certain specified unforeseen contingencies or perils insured against. It can play an important role in a country’s economy. It is an old form of financial practice of sharing risk, which was introduced in this area in mid-18 th century. 1.2 Objectives and scope of the report The research objectives regarding my term paper are – To fulfill the requirement of the course curriculum. To find out some major problems of insurance in Bangladesh as follows o Social o Political o Economical o Legal o Miscellaneous To identify the major prospective area of insurance in Bangladesh as follows o Social o Economical The preparation of the report will enable to gather concept of the insurance business. To suggest or recommend some necessary steps to solve the existing problems. To suggest necessary steps to develop this business in a developing country like Bangladesh. The term paper will enhance my overall knowledge about insurance and help me further to prepare any documents regarding insurance. I think this term paper will also be beneficial for those people who need information about insurance. 1.3 Methodology Secondary sources of data will be used for data requirements of the report. Secondary sources of data: Use Internet and different articles published in the journals Secondary Sources are: Textbooks on insurance 1
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Insurance Journals. Reference books on insurance. Annual Reports of BGIC. Internet Books. Annual report of insurance companies. 1.4 Limitations Preparing the term paper I have faced some obstructions which are Lack of proper information in the websites of the insurance company. Lack of necessary information in the journals and official publications of insurance companies. Inexperience and time constraint is the limitation restricting this report from being more detailed.
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This note was uploaded on 10/23/2011 for the course HUMAN RESO 110 taught by Professor Rahman during the Spring '11 term at AIU Online.

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