TMC Members Speak in May

Monday, 28 May 2018 00:00 - - {{hitsCtrl.values.hits}}

“Insurance: You don’t know” by Deepal Abeysekera

Deepal Abeysekera provided some important insights in insurance, particularly in respect of understanding and ensuring that the insurer keeps the agent fully aware of his insurance requirements.

He also spoke of the history of insurance, how it evolved from the beginning of Lloyds of London as Underwriters: He spoke of the basic concepts of common pool and proportionate contribution, understanding of risk and operation of insurance contacts was discussed covering utmost good faith and material facts and its modification in consumer and un-consumer insurance in recent times in other insurance markets.

An understanding of disclosure requirements and the important roll the brokers and insurance agents play in the industry was emphasised. How the level of awareness of insurance relates to insurance penetration and density in the country and where Sri Lanka stands and its impact on the economy was an interesting area which drew active attraction of the audience.