Start learning 50% faster. Sign in now
Henri Fayol, a French management theorist, propounded the 14 principles of management and published in his book ‘Administration industrielle et generale’. One of the 14 principles is “principle of order” which meant that people and materials and other resources must be in suitable places at appropriate time so as to maximise efficiency by ensuring the proper use of resources in a structured fashion. Misplacement of any of these resources will lead to misuse and disorder in the organization. The other principles given by Henri Fayol included Division of Work, Balancing Authority and Responsibility, Discipline, Unity of Command, Unity of Direction, Subordination of Individual Interests to the General Interest, Remuneration, Centralization, Scalar Chain, Equity, Stability of Tenure of Personnel, Initiative, Esprit De Corps.
When insurance companies undercut each other to grab market share by reducing premium, it is known as:
What is NOT an element of an insurance contract?
Insurance that pays claims arising out of incidents that occur during the policy term, even if they are filed many years later is known as?
What is the main role of an insurance underwriter?
A policy that covers financial losses due to delays in project completion caused by accidental damage is:
After which of the following year the Government of India started publishing returns of Insurance Companies in India?
Which of the below option best describes the process of insurance?
What are physical hazards in underwriting?
In India _______________ insurance is mandatory.
Which of the following is an example of a variable charge in a business?