LAW4121

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

Leader:

Offered:
Clayton Summer 2006 (Day)

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 or LAW1101 and LAW1102; LAW2100 or LAW2101 and LAW2102

Corequisites: LAW2200 or LAW2201 and LAW2202