What Do You Mean By Judgement

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Meaning of Judgement : Judgement means the observation and decision of court of law in respect of a particular case after conclusion of a trial. Content of Judgement : Every Judgement - Shall be written in the language of the court. Shall contain the point or points for determination, the decision there on and the reason for the decision. Shall specify the offence of which and section of The Indian Penal Code, 1860 or other law under which the accused is convicted and the punishment to which he is sentenced. If the Judgement is of acquittal, it shall state the offence, of which the accused is acquitted and direct that he be set at liberty section 354(1). Object : The object should be to protect the society and to deter the criminal in achieving the avowed object of law by imposing appropriate sentence. The social impact of the crime like where its relates to offences against woman, kidnapping and other offences involving moral delinquency which have great impact on s
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Benefits of Insurance in Economic Growth

There are so many benefits of insurance in economic growth this are as follows-


1) Promote financial stability :
  • By indemnifying those who suffer or harm, insurance helps stabilize the financial situation of individuals, families and organisations.
  • It encourages individuals and firms to invest and create wealth.
  • Peace of mind and financial carelessness.
2) Substitutes for and complements Government security programmes : 
  • Private insurance can relieve pressure on social insurance system, preserving Government resources for essential social security.
  • Pension fund and life insurance.
  • Natural disaster indemnity plan.
3) Facilities trade and commerce : 
  • Many products and services and produced and sold only if adequate liability insurance is available to cover any claims for negligence.
  • Malpractices.
  • Innovation.
  • Credit enhancement.
4) Help mobilize savings : 
  • Insurance and financial intermediation.
  • Insurance enhance financial system efficiency in three ways-
i) Reduce transaction costs associated with bringing together savers and borrowers.
ii) Create liquidity.
iii) Facilitate economics of scale in investment.
5) Financial intermediaries vs. financial markets : 
The more developed a country's financial system, the greater the reliance on markets and the less the reliance on intermediaries.

  • Commercial banks - short-term deposits.
  •  Contractual saving institution - long-term view.
6) Enable risk to be manged more efficiently :

  • Risk pricing - greater the expected loss, higher the price. 
  • Risk transformation - risk exposures can be transformed to an insurer for a price.
  • Risk pooling and reduction.
i) Insurers make reasonably accurate estimates as to the pool's overall losses.
ii) Insurers diversify their portfolios. 
7) Encourages loss mitigation :

  • If pricing is tied loss experience, insureds have economic incentives to control losses.
  • Example : experience rating, no claim bonus.
8) Fosters a more efficient capital allocation :

  • Insurers will monitor the companies to reduce risk-increasing behavior and act in the best interests of their various stakeholders.
  • A water-dog role.
  • Insurers incur sales, servicing, administration and investment management expenses.



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