Semester 2, 2017

Insurance Law Exam Notes (Complete)

101 pages

27,537 words




Very comprehensive - it includes all lecture slides, lecture notes, class notes and all chapters in the book that were relevant for class content.

- What is an insurance contract?
- The essential and non-essential characteristics of insurance
- Types of insurance contracts
- Third party liability insurance
- Public liability and product liability cover
- "Insurable interest"
- Difference between an insurance arrangement, a wager, a guarantee and a manufacturer's warranty
- Liabilities of intermediaries
- Framing a liability claim against a broker
- The Insurance Brokers Code of Practice 2012
- Payments made by mistake to insurer to insured
- An insurer denying a claim
- Implied terms in insurance contracts
- Utmost good faith under the common law and Insurance Contracts Act
- Non disclosure and misrepresentation
- Sections 21A, 21B, 22, 23, 24, 27, 28, 31, 37, 54, 56
- The Materiality test and indiosyncrasies of a particular insurer
- Recovery by third parties and third party beneficiaries
- The Right to cancel a contract
- Waiver by conduct or estoppel
- Fraudulent claims
- Duties owned by a lawyer when retained by an insurer