Handbook 1996 : Faculty of Law (Volume 3 page 218)
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Optional Law subject.
Availability: Not offered in 1996.
Prerequisite: Contracts.
Contact: 2 hours per week
Objectives:
Students completing this subject should be able to: understand the nature, function, regulation and types of insurance in Australia; identify and understand the sources of insurance law and the formation of the contract of insurance; discuss the concepts and implications of utmost good faith, insurable interests, disclosure and misrepresentation, warranties and standard cover, subrogation and contribution; agents and brokers; understand and apply the rules of construction to insurance policies; identify and understand the roles of parties in the process of formation, renewal, cancellation, expiration of insurance contracts and claims arising from the same; and identify and apply insurance law to hypothetical problems.
Content:
Definition, nature and types of insurance. The statutory regulation of insurance. The formation of the insurance contract. The requirement of insurable interest. The classification of the contract as one of the utmost good faith in relation to non-disclosure, misrepresentation and warranties. Standard cover and the construction of insurance policies. The use of agents and brokers in the formation and renewal of contracts and in claims arising thereunder. Claims, payment and return of premiums, assignment and reinstatement. Insurers rights of subrogation and contribution.
Assessment:
Final Exam 3 hours (100 per cent).
Prescribed texts:
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Handbook 1996 : Faculty of Law (Volume 3 page 218)
Status: Official 1996 Date created: Oct 9 1995 Last modified: Oct 9 1995 Authorised by: Academic Registrar Email enquiries: Course_Information@registrar.unimelb.edu.au
Maintained by: Faculty of Law.
Copyright © University of Melbourne 1995,1996.