Protection from risks, natural or inherent in any human activity and the adversities in life, has always been the necessity of people at all times and in all phases of human combination. The mechanism evolved to have the needed protection from risks and mishaps developed in the form of presenting 'Insurance.' The mechanism of insurance is based on sharing of risk and proportionate distribution of risk among the same group of people. Moreover, India had achieved independence and the country had embarked upon the policy of planned development of insurance sector. This book aims to examine the...