TDO TRANSFER LIST

The following officers performing duty in the Gujarat Development Service, Class-II Taluka Development Officer cadre are replaced with immediate effect and appointed to perform duty in the place mentioned in column (3) against their name.

Modern commerce focuses on the principle of property ownership. When the value of a property is damaged (due to loss or destruction) due to a certain event, the owner of the property has to bear the financial loss. However if a general fund is raised by a small amount provided by many owners of this type of property then this amount can be used to compensate some unfortunate people. In other words, certain economic losses and their consequences can be transferred from one person to many individuals through the insurance system.

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1. How insurance works.

a) First, there must be an asset of economic value. Property: 1 can be physical (like a car or a building) or ii. May be immaterial (like name and credit) or iii. Can be individual (one's eye, body part and other aspects of one's body)

b) Property can lose its value if a certain event occurs. This possibility of damage is known as risk, while the occurrence of damage is known as hazard.

c) There is a principle known as pooling. These funds are obtained by collecting individual contributions (premiums) from various individuals. Individuals who provide are at similar risk.

d) This pool of funds is used to compensate some people who have suffered losses due to the crisis.

e) The process of raising funds and making payments from them to compensate some unfortunate people is carried out through an organization called an insurance company.

f) The insurance company enters into an insurance contract with everyone who wants to join the scheme. This type of participant is known as the insured.

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Assume a heavy risk that such an event does not occur and no harm is done. Does this mean that those who are at risk of this type of crisis do not have to bear any burden? The answer is that in addition to the primary burden, one also has to bear the secondary burden of risk. A secondary burden of risk includes the mental anxiety and expense that a person incurs in view of the potential for a dangerous situation. Even if the crisis does not occur, the potential for such anxiety or risk remains and must be borne. Let’s understand some of these burdens:

1. Physical and mental stress due to first anxiety and fear. The level of anxiety and fear varies from person to person, but it needs to exist and it causes stress. Which affects a person’s health. i. Second, when a person is unsure about whether or not they will be harmed, it is prudent to reserve funds to cover such incidents. This type of funding costs to maintain. For example, such funds may be in the form of swimming or cash and in the form of low returns. Transferring the risk to the insurance company can bring mental relief, the funds that need to be set aside can be invested elsewhere and the business or business can be planned more effectively. Insurance is required for this reason.