You are on page 1of 10

[SCHOOL OF LAW, KIIT UNIVERSITY,

ODISHA]

SEMESTER IX

INSURANCE LAW

KIIT LAW

School

KIIT University, Bhubaneswar-751024

Course: B.A.LL.B/B.B.A.LL.B/B.Sc. LL.B (SEMESTER IX)


(Academic Session: 2012 -2017)
Course Structure

Subject: Insurance Law (Code:LOI-901 )

Subject Teacher:
Asst. Prof. Jinia Kundu
Adv. Surath Roy
Asst. Prof. Kaushiki Brahma

[SCHOOL OF LAW, KIIT UNIVERSITY,


ODISHA]
INSURANCE LAW

INDEX

1. Mechanical data.
2. Object.
3. Objectives.
4. Teaching Learning Methodology.
5. Evaluation System
Measurement
Evaluation of Application
Assessment
6. Dispute Resolution.
7. Annexure I: Detailed Syllabus.
8. Annexure II: Day to day schedule.
9. Annexure III: Readings.
10. Annexure IV: Expert Associated.

SEMESTER IX

[SCHOOL OF LAW, KIIT UNIVERSITY,


ODISHA]

SEMESTER IX

INSURANCE LAW

MECHANICAL DATA

1. Course: B.A.LL.B, B.B.A.LL.B, B.Sc. LL.B.


(Semester IX)
2. Subject: Insurance Law
3. Nature of subject: General
4. Paper code: LOI-901
5. Name of the principal teacher: Asst. Prof. Jinia
Kundu
Adv. Surath Roy
Kaushiki Brahma
6. Credit hours/week: 6hours
7. Room No:

Asst. Prof.

[SCHOOL OF LAW, KIIT UNIVERSITY,


ODISHA]

SEMESTER IX

INSURANCE LAW

OBJECT
This course is designed to acquaint the students with the conceptual and operational
parameters of insurance law.

OBJECTIVES
This course assembles the General Principles and Practices of the men of commerce and the
objectives of the present course shall be: To impart the basic understanding of the principles governing the formation of

insurance contracts.
To make the students understand how the terms of insurance contract are
classified, the effect of a breach of an insurance contract term by the insured

and of other vitiating factor and remedies thereof.


To help in understanding how losses are measured and how the principle of
indemnity applies to insurance claims.

Teaching Learning Methodology


This course will be taught by a combination of Lecture Methods, assigning projects using
the case laws, discussion and case briefings. In addition, tasks by way of assigning to draft
any agreement or demonstration by students in the class relating to prior assigned topic.

Evaluation System
Measurement:
The performance of the students will be assessed on the basis of 100 marks out of which endterm examination will be of 60 marks, mid-term examination will be of 20 marks and internal
examination will be of 20 marks.

[SCHOOL OF LAW, KIIT UNIVERSITY,


ODISHA]

SEMESTER IX

INSURANCE LAW

Evaluation:
Serial
no.
1.
2.
3.

Examination

Marks

End-Term Examination
Mid- Term Examination
Internal Examination
i.
Snap test
ii.
Project Presentation

50 marks
30 marks
20 marks
Total

100 marks

Dispute Resolution
In case of any dispute, it will be resolved as per the prescribed rules of the KIIT University.

[SCHOOL OF LAW, KIIT UNIVERSITY,


ODISHA]

SEMESTER IX

INSURANCE LAW

Annexure I
Syllabus Structure: MODULE 1: HISTORY AND CONCEPT OF INSURANCE
UNIT-I: Insurance Terminology: Abandonment, Accident, Barratry,
Insurable Interest, Insurer, Insured, Jettison, Nominee, Risk, Surrender Value,
Salvage
UNIT-II: History and Development of Insurance in India
UNIT-III: Insurance Contract: Nature and Characteristics; Insurance and
Indemnity, Types of Insurance, Risk Management.
UNIT-IV: Re-insurance, Double Insurance
MODULE 2: GENERAL PRINCIPLES OF INSURANCE
UNIT-I: Principle of Probability, Principle of Co-operation
UNIT-II: Principle of Insurance Contract, Principle of Insurable Interest
UNIT-III: Principle of Utmost Good Faith, Principle of Indemnity
UNIT-IV: Principle of Subrogation, Principle of Contribution, Principle of
Causa Proxima
MODULE 3: LIFE INSURANCE
UNIT-I: Nature and Scope of Life Insurance, Insurable Interest, Nondisclosure and Misrepresentation
UNIT-II: Kinds of Life Insurance Policies, Events Insured Against in Life
Insurance, Circumstances Affecting the Risk
UNIT- III: Amount Recoverable under Life Policy, Persons Entitled to
Payment, Assignment and Nomination
UNIT-IV: Settlement to Claim and Payment of Money
MODULE 4: GENERAL INSURANCE-I (MARINE INSURANCE)
UNIT-I: Marine Insurance Contract: Nature and Scope, Classification of
Marine Policies, Insurable Interest, Non-disclosure and Misrepresentation
UNIT-II: The Marine Policy, Insured Perils
UNIT-III: Voyage-Deviation, Warranties in Marine Insurance
UNIT-IV: Loss and Abandonment
MODULE 5: GENERAL INSURANCE-II (FIRE INSURANCE)
UNIT-I: Nature of Fire Insurance Contract, Risk and Risk Control
UNIT-II: Scope and functions of Insurable Interest
UNIT-III: Principles under Fire Insurance:
o Principle of Insurable Interest
o Principles of utmost good faith
o Principles of Indemnity
o Principles of subrogation

[SCHOOL OF LAW, KIIT UNIVERSITY,


ODISHA]

SEMESTER IX

INSURANCE LAW

o Principles of contribution
o Principles of proximate cause
UNIT-IV: Excluded Perils
MODULE 6: GENERAL INSURANCE-III (MOTOR INSURANCE)
UNIT-I: Chapter I of the Motor Vehicles Act, 1988
UNIT-II: Motor Claims [Sec. 140-144]
UNIT-III: Compulsory Insurance of Motor Vehicles [Sec. 145-155, 157-163
B]
UNIT-IV: Motor Accidents Claims Tribunal [Sec. 165-172]
MODULE 7: GENERAL INSURANCE-IV (MISCELLANEOUS INSURANCE)

UNIT-I: Crop Insurance


UNIT-II: Space Insurance
UNIT-III: Aviation Insurance
UNIT-IV: Public Liability Insurance

MODULE 8: NATIONAL REGULATORY FRAMEWORK


UNIT-I: Insurance Regulatory and Development Authority - Composition,
duties, power and function.
UNIT-II: Insurance Ombudsman - The Redressal of Public Grievances
Rules, 1998

[SCHOOL OF LAW, KIIT UNIVERSITY,


ODISHA]

SEMESTER IX

INSURANCE LAW

Annexure II
Lecture Schedule
MODULES

MODULE:1
(HISTORY
AND
CONCEPT
OF
INSURANCE
)
MODULE:2
(GENERAL
PRINCIPLES
OF
INSURANCE
)

MODULE:3
(LIFE
INSURANCE
)

MODULE:4
(MARINE
INSURANCE
)

MODULE: 5
(FIRE
INSURANCE
)
MODULE: 6
(MOTOR

TOPICS OF DISCUSSION
UNIT-I: Insurance Terminology:
UNIT-II: History and Development of Insurance in
India
UNIT-III: Insurance Contract
UNIT-IV: Re-insurance, Double Insurance

UNIT-I: Principle of Probability


Principle of Co-operation
UNIT-II: Principle of Insurance Contract
Principle of Insurable Interest
UNIT-III: Principle of Utmost Good Faith
Principle of Indemnity
UNIT-IV: Principle of Subrogation
Principle of Contribution
Principle of Causa Proxima
UNIT-I: Nature and Scope of Life Insurance; Insurable
Interest, Non-disclosure and Misrepresentation
UNIT-II: Events Insured Against in Life Insurance;
Circumstances Affecting the Risk
UNIT-III: Amount Recoverable under Life Policy;
Persons Entitled to Payment
UNIT-VII: Settlement to Claim and Payment of Money
UNIT-I: Marine Insurance Contract: Nature and Scope,
Classification of Marine Policies; Insurable Interest,
Non-disclosure and Misrepresentation
UNIT-II: The Marine Policy, The Insured Perils
UNIT-III: Voyage-Deviation; Warranties in Marine
Insurance
UNIT- IV: Loss and Abandonment
UNIT-I: Nature of Fire Insurance Contract, Nondisclosure and Misrepresentation
UNIT-II: Standard Fire Policy
UNIT-III: Proximate Cause
UNIT-IV: Fire Claims and Amount Recoverable
UNIT-I: Nature and Scope of Motor Insurance, Nondisclosure and Misrepresentation
UNIT-II: Motor Claims

LECTUR
E
HOURS

TOTAL
HOURS/
MODULE

2 hrs
5 hrs
3 hrs

1 hr
2 hrs

6 hrs

2 hr

1 hr
3 hrs
4 hrs
4 hrs

12 hrs

1 hr
4 hr
1 hr

10 hrs

3 hr
2 hr
3 hrs
1 hr
1 hr
2 hrs
3 hrs

7 hrs

9 hrs
2 hrs

[SCHOOL OF LAW, KIIT UNIVERSITY,


ODISHA]

SEMESTER IX

INSURANCE LAW
INSURANCE
)
MODULE: 7
(MICS.
INSURANCE
)
MODULE:8
(NATIONAL
REGULATOR
Y
FRAMEWOR
K)

UNIT-III: Compulsory Insurance of Motor Vehicles


UNIT-IV: Motor Accidents Claims Tribunal
UNIT-I: Crop Insurance
UNIT-II: Space Insurance
UNIT-III: Aviation Insurance
UNIT-IV: Public Liability Insurance

2 hrs
2 hrs
1 hr
1 hr
1 hr
1 hr

UNIT-I: Insurance Regulatory and Development


Authority
UNIT-II: Insurance Ombudsman

4 hr

Total Class Hours

6 hrs

6 hrs
2 hr

61 hrs

Annexure III
Readings: Arnoulds Law of Marine Insurance and Average Jonathan Gilman & Robert
Merkin, Thomson Sweet & Maxwell, 17th Edition, 2008.
Birds Modern Insurance Law - John Birds, Sweet & Maxwell, 1st South Asian
Edition, 2011
Butterworths Insurance Law Handbook Andrew Barton, Lexis Nexis, 2011.
Colinvauxs Law of Insurance Robert Merkin, Sweet & Maxwell, 8th Edition,
2006.
Insurance Products (Including Pension Products) - Indian Institute of Banking &
Finance, Taxmann Publication (P.) Ltd., 2nd Edition, 2007.
Law of Insurance- J.V.N.Jaiswal, Eastern Book Company, 2008
MacGillivray on Insurance Law Nicholas Legh-Jones, Sweet & Maxwell, 11th
Edition, 2008.
Modern Law of Insurance K S N Murthy & Dr. K V S Sarma, Lexis Nexis
Butterworths Wadhwa, 4th Edition, 2009.
Principles of Insurance Law (Vol.1 & 2) M.N.Srinivasan & Dr. N.R.Madhava
Menon, Lexis Nexis Butterworths Wadhwa, 9th Edition, 2009.
Statues:

The Insurance Act, 1938


The Life Insurance Corporation Act, 1956
The Marine Insurance Act, 1963
The General Insurance Business (Nationalisation) Act, 1972

[SCHOOL OF LAW, KIIT UNIVERSITY,


ODISHA]
INSURANCE LAW

The Motor Vehicles Act, 1988


The Public Liability Insurance Act, 1991
The Insurance Regulatory and Development Authority Act, 1999

Annexure IV
Expert Associated

SEMESTER IX