The Center for Insurance Studies and Research (CISR) started in 2002 and is an education and training center at the

National Law University, Jodhpur National Law University, Jodhpur (NLUJ) is a public law school and a National Law University established under the National Law University, Jodhpur, Act, 1999 enacted by the Rajasthan State Legislature. The university was established for the ...

, India. It offers Postgraduate and Research programs. The National Law University of Jodhpur was established in 2001. Other specialized and comprehensive centers of learning that the National Law University, Jodhpur includes are: the Center for Law and Management, Center for Insurance, and Center for Banking and Finance.

Initial Endowment

The first endowment for creating a chair on Insurance studies was initiated by

New India Assurance The New India Assurance Co. Ltd., is a central public sector undertaking under the ownership of Ministry of Finance, Government of India. It is based in Mumbai, Maharashtra. "It is the largest nationalised general insurance company of India ...

in December 2001 in the presence of the Finance Minister

Yashwant Sinha Yashwant Sinha (, born 6 November 1937) is an Indian administrator and politician. He served as the Minister of Finance from 1990 until 1991 under Prime Minister Chandra Shekhar and again from March 1998 to July 2002 under Prime Minister Atal B ...

and L M Singhvi, former member,

Rajya Sabha The Rajya Sabha, constitutionally the Council of States, is the upper house of the bicameral Parliament of India. , it has a maximum membership of 245, of which 233 are elected by the legislatures of the states and union territories using si ...

Insurance Chair

The center has received an endowment of Rs. 4mm

lakhs A lakh (; abbreviated L; sometimes written lac) is a unit in the Indian numbering system equal to one hundred thousand (100,000; scientific notation: 105). In the Indian 2,2,3 convention of digit grouping, it is written as 1,00,000. For ex ...

from New India Assurance Company Ltd. followed by Rs. 3.5mm by

General Insurance Corporation of India General Insurance Corporation of India Limited abbreviated as GIC Re is a central public sector undertaking under the ownership of Ministry of Finance, Government of India. It was incorporated on 22 November 1972 under Companies Act, 1956. GIC ...

to establish chairs on Insurance and Reinsurance. The establishment of the chair has encouraged the analysis and comparison of the contemporary trends in the assurance sector.

History

The liberalization of the Indian economy and the subsequent passing of the IRDA Bill in 1999, expanded the investment opportunities in the insurance industry, bringing in a large number of players. This massive competition has resulted in the insurance sector achieving the highest rate of growth since pre liberalization. The next decade is expected to witness a phenomenal growth in the career opportunities for the insurance professionals. The course content has been designed with the needs and requirement of the insurance sector in mind, and includes subjects ranging from Actuarial sciences to the concepts of

reinsurance Reinsurance is insurance that an insurance company purchases from another insurance company to insulate itself (at least in part) from the risk of a major claims event. With reinsurance, the company passes on ("cedes") some part of its own insu ...

and

management Management (or managing) is the administration of an organization, whether it is a business, a nonprofit organization, or a government body. It is the art and science of managing resources of the business. Management includes the activities o ...

. The general insurance sector has opportunities for engineers, as their profile caters to the needs of the industry especially in the field of risk inspection and risk management. The IRDA (Insurance Regulatory and Development Authority of India has certified the MBA Insurance as one of the qualifications required for Qualifications of Corporate Insurance Executives and Faculty of Agents’ Training Institutes.Circular - IRDA/AGENTS/ORD/17/JULY 2009, for Qualifications of Corporate Insurance Executives and Faculty of Agents’ Training Institutes, Corporate Insurance Executive (CIE), Specified Person, Faculty of Agent’s Training Institutes. Additionally, the

Insurance Institute of India The Insurance Institute of India is the sole national apex body for insurance underwriters in India established in 1955 in Mumbai. It is under the ownership of Ministry of Finance, Government of India. It was created for the purpose of regulat ...

has allowed exemption to the MBA Insurance Degree holders from CISR, to directly appear for the Fellowship Examinations of Insurance Institute of India, exempting it from the Licentiate and Associate programs.

References

External links

Center for Insurance Studies and Research, Official Website
{{Insurance in India Universities and colleges in Jodhpur Educational institutions established in 2002 2002 establishments in Rajasthan Insurance schools in India