Session 3 - Computation of claim from Insurance companies

Practice/Practical/Practicum Session Plan : Computation of claim from Insurance companies

1️⃣ 0–5 min: Introduce concept of insurance, need for claim computation, and types of losses.
2️⃣ 5–15 min: Explain key terms: Sum Insured, Actual Value, Loss, Salvage, Average Clause.
3️⃣ 15–30 min: Work step-by-step through claim computation with numerical examples.
4️⃣ 30–40 min: Discuss underinsurance, average clause application, and accounting treatment.
5️⃣ 40–45 min: Recap entire concept and review 5 important exam-oriented questions.

Instruction for Practice/Practical/Practicum : (PDF, PPT)

Computation_of_Claim_from_Insurance_Companies.pptx

Practice Material (IV Quadrant Approach)

(Q1) : Practice Questions/Problems (PDF Formats)

Fire insurance claim.pdf

(Q2) : Video Based Content (Youtube)

(Q3) : Formative Assessment (Google Form/Any Other Online Quiz Platform)

(Q4) : Further Reading

Recommended Books & Texts

Accounting for Business (3rd ed) — A textbook focused on how accounting supports business decision-making and is suitable for non-specialist managers and business students. Goodreads
Accounting for Business Studies by Aneirin Owen — Integrates accounting with business & management studies, emphasising the commercial context. Routledge
Business Accounting (v.2.0) (free online text) — Covers many fundamental accounting topics; good for self-study. 2012 Books
Accounting, The Language of Business by JoAnn Wood — Openly-licensed, explains accounting as a communication tool in business. Boise State Pressbooks

Useful Online Resources

Open Textbook Library: “Accounting Principles: A Business Perspective” and others — free downloadable textbooks covering core accounting topics. Open Educational Resources
Guides listing recommended books for accounting and business: e.g., “Business Recommended Reading by Subject: Accounting”. BYU Library Guides+1
Articles on accounting fundamentals: e.g., “What Is Accounting? | Introduction to Business” explains accounting as the language of business.

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