A rich and useful book on insurance

A.K.M. Ehsanul Haque, the author of the book, has worked for several multinational insurance companies in Dubai. He has written a number of books on different aspects of insurance and risk management. Besides, Mr Haque is a qualified chartered insurance practitioner (CIP) and a fellow of the Chartered Insurance Institute in London. He is an associate of The Institute of Risk Management and The Chartered Institute of Arbitrator, both in London.
The subject book is intended to be a textbook for the undergraduate students studying insurance. The author, obviously, has taken into consideration the specific needs of the curricula of both private and public universities in Bangladesh, and also for the young professionals. The style and presentation of the book is unique as the author has dealt with a sophisticated subject in down-to-earth and lucid manner. The book is published at a time when its need is felt acutely, since textbooks on insurance, particularly for the undergraduate students and young insurance professionals, are not available in the country.
Part-One of the book deals with the various important aspects of insurance as per the university curricula. Part-Two comprises 'Risk and Risk Management' and other related matters of general interest falling outside the scope of the syllabus.
Moreover, Part-One contains a basic overview of the subject targeting the general readers and students who want to take up insurance as their career. The author's comprehensive knowledge and his long experience in the insurance industry has positively contributed to his writing several other profound books like Basics of Risk and Insurance, Footprints On Risk Management, Evolution of Engineering Insurance and Liability Insurance in Different Colours and Shades and Principles and Practice of Marine Insurance. His books have been widely acclaimed by insurance practitioners and academicians.
Principles of Insurance is the sixth book written by A. K. M Ehsanul Haque. It aims to create an impact on students and practitioners alike. The book narrates the subject in a very systematic manner starting from the history of insurance to its latest theories and practices. The book is a unique blend of theory and practice. For the readers it will be easy to search for the relevant topics through the use of index. Illustrations and examples given in the book are appropriate and will be useful. The arrangement of sections and sub-sections in various chapters of the book has been well calculated and nothing appears to be missing.
In fact, this is a valuable insurance textbook in all respects. The book is a must read for all university students with business courses, regardless of their levels. It can meet their expectations in terms of depth, accuracy and the lucid delineation of complex theories and concepts.
Fortunately, the textbook comes as a relief to both students and professionals. The chapter on Life Insurance deals with intricate and essential aspects of life insurance. The layout and the materials included in this chapter are comprehensive and well written. Insurance topics, like Bank Assurance and Takaful, are relatively new concepts in Bangladesh insurance market, but they are gradually gaining popularity. Liability Insurance is another subject, of which awareness of the insuring public is growing with the passage of time. It is worth mentioning that other special types of insurance which have been included in the book are 'Crop Insurance', 'Credit Insurance', 'Cattle Insurance', and 'Reinsurance'.
Since Bangladesh has an agricultural economy which contributes significantly to the national GDP, Crop Insurance is designed to provide protection to peasants in the event of loss or damage to crops due to natural calamities or any other man-made reasons. Animal husbandry is a huge business in Bangladesh in terms of production of consumable meat and dairy products. Livestock/ Cattle Insurance is designed to provide insurance protection to cattle owners and firms raising cattle in the event of deaths due to diseases and epidemics.
In addition to the non-traditional classes of insurance described above, the book contains chapters on 'Claims Procedures' and handling of 'Marine Cargo Claims' with simple examples which should prove handy to the insurance personnel and businessmen dealing with cargo claims.
Diagrams, pictures and sketches used in the book are pertinent and of high quality, and thus enrich the overall presentation of the book. It also covers a section on the role of Insurance Development and Regulatory Authority (IDRA). Inclusion of court cases on liability claims is highly informative and interesting. The book offers an insight into how liability claims are arbitrated by courts around the world.
Furthermore, the textbook focuses on the popular subject of our time - Risk Management. Mr Haque's book is very resourceful as it carries a host of useful and valuable information. It also includes a glossary of insurance, the Latin and legal terms, making the book look like a 'Dictionary of Insurance' rich in contents.
As far as insurance textbooks are concerned, the book will certainly fill the vacuum that exists in the country, and meet the specific requirements of the students, teachers, professionals, academicians and general readers.
The writer is CEO of Prime Islami Life Insurance Ltd.

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Principles of Insurance
By A. K. M. Ehsanul Haque