Insurance plays a big role in modern
society, for private citizens, families, and businesses alike. Hundreds
of books and publications have been written about insurance products and
the wider insurance industry, making it difficult to choose the right
title for you and your needs. Here are 10 of the best insurance books
currently on the market, all of which differ greatly in terms of their
focus and their style.
1. Insurance Theory and Practice - by Rob Thoyts
This book gives a detailed and comprehensive summary of the insurance
industry, including the underlying theory behind the principles of
insurance, the functioning of different insurance products, and the
legalities of the insurance industry. This is a great book for every-day
readers, written in an entertaining and non-technical style that
everyone can enjoy.
2. Life and Health Insurance - by Kenneth Black, Harold D, and Jr
Skipper
This is a very different title from the first book, being more of a
reference book for life insurance (http://www.insurance64.co.uk/life/life-assurance/)
professionals. While mostly about the life insurance industry, this book
also covers individual and group life, health insurance, and retirement policies. All aspects of these policies are
talked about, including pricing, taxation, and regulations.
3. Risk: An Introduction: The Concepts of Risk, Danger and Chance - by
Ben Ale
This is a defining publication for the modern age, which talks about
everything from investments and global warming to the risks associated
with crossing the road. It has quite a philosophical tone, and analyses
how decisions and risk factors are made and quantified by both
individual people and the insurance industry.
4. Cost-Benefit Analysis, 5th Edition - by E.J Mishan and Euston Quah
This book has a broad focus that goes beyond insurance, however it has a
lot of relevance within the insurance industry. It asks a number of
questions regarding the analysis of cost-benefit situations, both for
small and large term projects.
5. Islamic Insurance: A Modern Approach to Islamic Banking - by Aly
Khorshid
This is a very interesting publication about the implications of Islamic
banking and insurance, which many Muslims believe is unnecessary.
However, as the Islamic world integrates more with the western world
every day, these are question which need to be asked and analysed.
6. Fundamentals of Risk and Insurance - by Emmett J. Vaughan and Therese
M. Vaughan
This is a well written text book standard that provides both consumer
and industry perspectives of risk management and insurance, with
detailed analysis of income risk, retirement plans, and annuities.
7. Investment Management for Insurers - by David F. Babbel and Frank J.
Fabozzi
This book is a detailed and comprehensive reference text, especially
regarding investment management strategies, interest rate risk, credit
risk, and other areas relating to asset allocation and investment
management.
8. The Guide to Understanding the Insurance Industry - by A.M Best
Company
This is an easy to read book written about the insurance industry for
everyday people. It is illustrated and easy to comprehend, giving a
rough run down of the modern industry and many of the products it
offers.
9. The Guide to Understanding Consumer Insurance Products: How to select
the tools to accumulate wealth and safeguard your home and retirement -
by A.M Best Company
This title is another book from the A.M Best group, and a great
reference for consumers. There are illustrated charts and text about 30
different insurance products, making it easier to choose than ever
before.
10. Life Insurance Mathematics - by Hans U. Gerber, Walther Nehaus and
S.H Cox
This offers a good introduction to life insurance maths, including
compounded interest, pension funds, and many other actuarial
applications. Includes a number of practical exercises.
