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Recently, the universities in India and abroad have introduced insurance as a specialized study both at graduate and postgraduate level. This has accentuated the dire demand for the literature on insurance in the Indian context. It is expected that the book shall be useful to the students and the trainers. I would be highly obliged for comments from the readers that would further help me in improving the book. The book has been organized into five modules. Unit 1 discusses the concept of insurance, its need and presents a global view of insurance. Also, various reinsurance strategies have been discussed. Unit 2 enumerates the underlying principles of insurance. Legal aspects of insurance and various non-life insurance categories, viz., Fire, Marine, Motor and Health insurance have been discussed. Unit 3 explained Claims, Salvage, Co-insurance , Loss: Total Loss, Actual or Constructive Loss- Valued Policy, Agreed Value, Full Value, First Loss, Increased Value, Insurance Time or Institute Cargo Clauses ,Solatium. Unit 4 deals with IRDA legislation, rules and regulations and other important aspects of insurance. Unit 5 introduces the concept of risk management to the readers. It conceptualizes the risk definitions, classes of risk; risk management process also discusses the various aspects of disaster risk management. I hope that book shall definitely be useful to the readers and provide an in-depth insight into the various facets of insurance business in India.