LAW4121

Insurance law 406

(LAW)

Not offered in 2002

TBA

6 points + Three 1-hour lectures per week + Clayton + Prerequisite: LAW2100 + Corequisite: LAW2200

Synopsis: Nature and development of insurance law and the industry Government regulation and early Federal reforms. The contract including concepts of insurable interest, formation and documentation. good faith. Disclosure and misrepresentation. Intermediaries, brokers and agents. Construction of policies and standard cover. Adjustment of rights including claims, causation, proof and fraud. The indemnity principle and measure of loss. Remedies and dispute resolution. subrogation, double insurance and contribution; and codes of practice and proposals for further reform.

Assessment: Take-home (24 hours) test problem (1000 words) in week 4: 10% + Final open-book examination (3.5 hours): 90%