Sona

In: Business and Management

Submitted By sova
Words 1684
Pages 7
|
Insurance a system of spreading the risk of one to the shoulders of many. It is a contract whereby the insurers, on receipt of a consideration known as premium, agree to indemnify the insured against losses arising out of certain specified unforeseen contingencies or perils insured against.Insurance is not a new business in Bangladesh. Almost a century back, during British rule in India, some insurance companies started transacting business, both life and general, in Bengal. Insurance business gained momentum in East Pakistan during 1947-1971, when 49 insurance companies transacted both life and general insurance schemes. These companies were of various origins British, Australian, Indian, West Pakistani and local. Ten insurance companies had their head offices in East Pakistan, 27 in West Pakistan, and the rest elsewhere in the world. These were mostly limited liability companies. Some of these companies were specialised in dealing in a particular class of business, while others were composite companies that dealt in more than one class of business.The government of Bangladesh nationalised insurance industry in 1972 by the Bangladesh Insurance (Nationalisation) Order 1972. By virtue of this order, save and except postal life insurance and foreign life insurance companies, all 49 insurance companies and organisations transacting insurance business in the country were placed in the public sector under five corporations. These corporations were: the Jatiya Bima Corporation, Tista Bima Corporation, Karnafuli Bima Corporation, Rupsa Jiban Bima Corporation, and Surma Jiban Bima Corporation. The Jatiya Bima Corporation was an apex corporation only to supervise and control the activities of the other insurance corporations, which were responsible for underwriting. Tista and Karnafuli Bima Corporations were for general insurance and Rupsa and Surma for life insurance.…...

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Sona

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...Over 100 rounds of applause received by the Republic of the Philippines President Benigno Simeon Aquino III when he delivered his one and a half third State of the Nation Address at the Batasan Pambansa Complex, July 23. The well-applauded forty pages speech of PNoy had undergone a lot of revisions more than seven drafts that entitled, “Report kay Boss”. President Aquino once again faced the country and show the people what has been changed since being elected 2010.The third and the last SONA of PNoy before the ELECTION 2013 highlights the positive changes, accomplishments of his administration made in the past 2 years and the plans for the rest of his term. President Aquino talks about the nightmares of the lost decades. Though, not mention the name of former President Arroyo he still alluded to remind people of what his administration had to reckon. He cited the anomalies in the Northrail Project. He said that an expensive project that became even more expensive after the renegotiation and the higher cost came with fewer public benefits. And the debts incurred from that project are now being called in. “Nothing is impossible to a united Filipino nation”. He noted. Some of the improvements and plans of Pnoy’s administrations are: Relief Goods and Rescue Operation are now ready before the calamity/storms arrives. The disasters preparedness has improved. PNoy receives a long applause after saying that the country is now a creditor nation because Filipinos always...

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... production and reduced food import reliance. The installation of BRP Ramon Alcaraz offers additional patrol and security to our coastlines and economic zones on top of BRP Gregorio del Pilar’s protective voyages. The Air Force modernization with C-130 aircrafts, UH-1H and combat utility helicopters, rifles, mortars, mobile diagnostic laboratories, and station bullet assembly that reinforces our armed forces with their battle against terrorism and insurgence offering further defensive capabilities. Standing up for our West Philippine Seas territorial claim deserves acknowledgement as the dispute concerns a super power country like China. One of the weak points of the SONA include the part where he discussed his forgive and forget ideology. It has been noted and celebrated that President Aquino’s administration has been able to prosecute former President Arroyo for electoral sabotage and has successfully removed Renato Corona from the Chief Justice position. Conversely, it challenges Aquino’s obvious bias toward his political adviser Ronald Llamas who was plagued with controversy related to possession of high-powered firearms and support for pirated media. This one seems to depict that he can forgive and forget the violations of those people under his administration. Although the President had claimed that he already disposed of his shares in Hacienda Luisita, it would have been meaningful to know what has been done and what is going on with the land distribution that can...

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Sona

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