LML4805 Insurance Law

Contents INTRODUCTION CHAPTER 1 Concept of Insurance; Origin and Historical Development of the Insurance Contract and Insurance Law; Classifications CHAPTER 2 Sources of South African Insurance Law CHAPTER 3 Nature and Characteristics of the Insurance Contract CHAPTER 4 Requirements for a Valid Insurance Contract CHAPTER 5 Parties to the Insurance Contract CHAPTER 6 Insurable Interest CHAPTER 7 Misrepresentation and the Insurance Contract CHAPTER 8 Insurance Warranties CHAPTER 9 Risk ...

SOLUTION TO EXAMS: MAY/JUNE 2011 QUESTION 1 1.1. (a) Common Law, Legislation, the Constitution, Custom and Trade Usage, Jurisprudence/Case Law. (b)(i) When the requirements for a valid contract are not met the contract is void. Whereas when any of the essentialia for a valid insurance contract are not met it can still be another type of contract. (ii) The consequence of a misrepresentative of the age of the life insured in the case of life insurance is that there is an adjustment of ...

General principles of insurance law Ch 1 introduction history and sources of insurance law 5. prelim def of ins contract: Lake v Reinsurance corp: A contract between an insurer (or assurer) and an insured (or assured) whereby the insurer undertakes in return for the payment of a price or premium to render to the insured a sum of money or its equivalent on the happening of a specified uncertain event in which the insured has some interest. - def bridges gap between indemnity and non-indemni...

UNIT 1 Diagrammatic Overview Study the diagrammatic overview for Learning Unit 1 that is attached to the study guide in Addendum A. Prescribed Study Material Study the diagrammatic overview in conjunction with the following prescribed study material for this Learning Unit:  Learning Unit 1 in the study guide  Reinecke et al, paras 1.1–1.59 Learning Activities  Visit the Schedule for the module-related study plan as well as important dates and events.  Complete the self-...

INSURANCE LAW QUESTIONS: DEFINITIONS Distinguish (in a single sentence, where possible, and with the aid of examples, where necessary) between: QUESTION 1: The insured and the person concluding the insurance contract with the insurer • the person taking out the insurance (ie, the person concluding the contract with the insurer) A may insure his or her own interest in his or her own house. A may insure his or her own interest in B’s house. A may insure B’s interest in his or her ...