A Study on the Market Potential of Insurance for Students in Unaided Schools (with Specific Focus to Coimbatore, India)
Posted: 10 Mar 2010
Date Written: March 10, 2010
After privatization, deregulation and de-tariffing the growth of insurance industry in India is spectacular. Education industry is projected as a new target with huge potential for insurers. The Supreme Court delivered a verdict ordering mandatory fire policy and group accident protection policy to be availed by the educational institutions against a public interest litigation filed by one Mr. Avinash Mehrothra as the backlash of the fire accident at Sri Krishna Girl’s High school, Kumbakonam, Tamil Nadu, India, where 94 young kids were torched due to negligence. This study attempts to assess the potential of the above insurance in the schools of Coimbatore unaided or not financed by the Government or Government agencies in India and the findings are presented in this article.
Keywords: Insurance, group insurance, IRDA, risk coverage, claims, documentation, student’s insurance
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