Insurance is not a new area of academic study or profession. With the increasing dynamism of risk and the growth of professional risk management, the insurance device has become more and more popular these days. The recent liberalization of the economy has resulted into the availability of large number of alternative products/financial services. This has paved the way for the potential and unconventional entrants to penetrate the financial market through innovative higher product profile and portfolios, resulting into a sudden spurt in the demand of insurance professionals. The study of insura