Insurance Law

Dibrugarh University · LL.B. Semester 7 · B.A.,LL.B.: 7.5

Unit 1 — Introduction

1.1 Nature of insurance contract 1.1.1 Kinds of insurance, proposal, policy, parties. 1.1.2 Consideration-need for utmost good faith 1.1.3 Insurable interest, indemnity, insurance policy. · 1.2 Law of contract and law of torts- 1.2.1 Future of insurance, need, importance and place of insurance, · 1.3 Constitutional perspectives – 1.3.1 List-I: Union List – Entries 24, 25, 29, 30 and 47 1.3.2 List III: Concurrent List – Entries 23 and 24.

1. 1 Insurance: Definition, Nature, Scope, History, Its future, need and importance in India and across the globe

Unit 2 — General Principles of Law of insurance:

2.1 Definition, nature and history, 2.1.1 The risk – commencement, attachment and duration 2.1.2 Assignment and alteration 2.1.3 Settlement of claim and subrogation. 2.1.4 Effect of war upon policies · 2.2 Indian Insurance Law: General, History and development, 2.2.1 The Insurance Act 1938 and the Insurance Regulatory Authority Act 2000, 2.2.2 Mutual insurance companies and cooperative life insurance societies, 2.2.3 Double Insurance and re-insurance

1. 1 Insurance: Definition, Nature, Scope, History, Its future, need and importance in India and across the globe

Unit 3 — Life Insurance:

3.1 Nature and scope · 3.2 Event insured against life insurance contract · 3.3 Circumstances affecting the risk · 3.4 Amounts recoverable under life policy 3.4.1 Persons entitled to payment 3.4.2 Settlement of claim and payment of money

Unit 4 — Insurance against accidents:

4.1 The Fatal Accidents Act, 1855- Objects and reasons. · 4.2 Assessment of compensation, 4.2.1 Contributory negligence 4.2.2 Apportionment of compensation and liability, · 4.3 The personal injuries (Compensation insurance) Act 1963, 4.3.1 Compensation payable under the Act. 4.3.2 Compensation insurance scheme under the Act 4.3.2.1 Compulsory insurance

Motor Vehicles Act, 1988, Salient features, (Chapter — VIII), Nature and Scope, persons

Unit 5 — Property insurance – Insurance against Third Party Risks 5.1 Burglary and Theft

5.2 Plate Glass Insurance · 5.3 Goods in Transit Insurance · 5.4 Storm and tempest Insurance · 5.5 M.V Compulsorily third party Insurance Internal assessment Refereed Cases: 1. K Sasi Kala V Life Insurance Company AIR +1999 AP 32 2. Sarbati Devi Case AIR 1977 3. LIC V KiranSinha AIR 1985 4. Lakshmi Insurance Co. Ltd. V B. Padmawati AIR 1961 5. LIC V Canara Bank Ltd. AIR 1974 6. LIC V Raj Kumar Rajgarhia AIR 1999 SC 2346