Insurance 415
Not offered in 1995
15 points * Clayton
This subject begins with a consideration of the nature and development of insurance; reviews the insurance industry and its regulation by government; examines the recent Federal reforms; and develops familiarity with the purpose and form of the principle types of insurance. The syllabus will cover (1) the contract - insurable interest; formation and documentation; good faith, disclosure and misrepresentation; insurance intermediaries, brokers and agents; construction of insurance policies and standard cover; (2) adjustment of rights - claims, causation, proof and fraud; indemnity principle and measure of loss; dispute resolution; subrogation; double insurance and contribution. Students are encouraged to study the law of insurance in its contemporary context and are introduced to the practical operation of insurance documentation. A sound knowledge of contract and tort law will be assumed.
Assessment
Class test (1 hour): 10% * Examination (3 hours): 90%
Prescribed texts
Marine Insurance Act 1909 (Cth)
Kelly D StL and Ball M L Insurance legislation manual 2nd edn, Butterworths, 1992
Tarr and others Australian insurance law 2nd edn, Law Book, 1991