LAW4121

Insurance law 406 ( 6 points, SCA Band 3, 0.125 EFTSL)

Leader:

Offered:
Not offered in 2005.

Synopsis: The unit focuses on the rights and liabilities of parties to an insurance contract as governed by the common law and statute, with particular reference to the Insurance Contracts Act 1984 (Cth). Topics covered include risk, insurable interest, the duty of utmost good faith, non-disclosure and misrepresentation, conditions, warranties and premium, the role of agents and brokers in the formation of contracts of insurance, 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, cancellation of cover.

Objectives: Students completing the unit should be able to: (1) appreciate the role of insurance in managing the risks of business activity; (2) determine the legal rights and liabilities of the parties to a contract of insurance and advise on issues such as whether a policy covers the event which has occurred and whether the insurer has grounds for refusing the claim in whole or in part; and (3) evaluate the need for further reform of the legal rules governing insurance contracts.

Assessment: Assignment (3000 words): 40% + Examination (2 hours writing time plus 30 minutes reading and noting time): 60% OR Examination (3 hours writing time plus 30 minutes reading and noting time): 100%

Contact Hours: Three hours of lectures per week

Prerequisites: LAW1100 Legal process OR LAW1101 Introduction to legal reasoning and LAW1102 Law in society; LAW2100 Contract OR LAW2101 Contract A and LAW2102 Contract B

Corequisites: LAW2200 Torts OR LAW2201 Torts A and LAW2202 Torts B