GENERAL INSURANCE INDUSTRY IN INDIA-ISSUE AND CHALLENGE

The earlier traces of insurance are in the form of Marine Trade Losses and at the timebonds were used to cover accidental losses. After Marine Insurance, there was augmentationin the field of Fire Insurance. It is started Germany in the beginning of16th century and greatfire in England in 1666 which resulted is burning of 85 percentages of the houses to ashesinjected life, strength and continuity to the concept of Fire Insurance. Within the colonialaugmentation of England the Fire Insurance spread all over the global. In IndiaGeneralInsurance started working 1850 and credit for the identical goes to the TritonInsurance,Calcutta.