Table of Content CHAPTER 1; INTRODUCTION; BACKDROP OF THE DESIRABILITY OF COMMUTATION IN INDIA; CHAPTER 2; STATEMENT OF PROBLEM AND METHODOLOGY; RESEARCH PROBLEM; PROBLEM OF DECISION-MAKING ON COMMUTATION; Problem specific to the General Insurance Corporation; B. Procedure to be Adopted for Commutation; RESEARCH QUESTIONS; PURPOSE OF RESEARCH; METHODOLOGY; CHAPTER/SATION; CHAPTER 3; CONCEPTS MADE EASY; INSURANCE; REINSURANCE; E. The Duty of Utmost Good Faith; F. "Follow the Fortunes" and "Loss Settlement" Clauses; G. The Duty o/Competent Claims Handling; ORIGIN OF REINSURANCE; THE PURPOSE OF RE~SURANCE; ROLE OF REINSURANCE; COMMUTATION; LEGAL REGIME GOVERNING COMMUTATION; CONTRACT OF COMMUTATION; REASONS FOR PROPOSING COMMUTATIONS; BENEFITS OF COMMUTATION; CHAPTER 4; FRAME-WORK OF STUDY; Discretionary Powers; PUBLIC UNDERTAKINGS; Department v Public Enterprises; Statutory Corporation v Government Companies; REASONS FOR FAILURE OF PUBLIC ENTITIES; IMPROVING THE EFFECTIVENESS OF THE PUBLIC ENTERPRISES; CHAPTER 5; NON-LIFE INSURANCE INDUSTRY IN INDIA; CHAPTER 6; REINSURANCE IN INDIA; HISTORY OF SPECIALIZED REINSURANCE COMPANIES; STATE-OWNED REINSURANCE INSTITUTION; NATIONAL REINSURER IN INDIA: A PROFILE OF GIC; CHAPTER 7; CASE STUDY IN GIC AND NEW INDIA ASSURANCE COMPANY; PRACTICE ON COMMUTATION ANALYSIS OF DATA; CASE OF REINSURANCE AUSTRALIAN CORPORATION LIMITED; CHAPTER; LAST WORD WITH SUGGESTIONS; REFLECTIONS; SUGGESTIONS; ANNEXURE 1; COMMUTATION AND RELEASE AGREEMENT; ANNEXURE 2; LIST OF COMMUTATION AREEMENTS ENTERED INTO BY GIC; ANNEXURE 3; LIST OF COMMUTATION PROPOSALS NOT ACCEPTED BY GIC; ANNEXURE 4; STUDY OF CASES FROM GIC; ANNEXURE 5; CASE STUDY OF NEW INDIA ASSURANCE COMPANY.