Specialisation: Insurance law

Insurance law (excluding Marine insurance law)

Module A [LWM22A]

Elements of insurance

Definition: what is an insurance contract?

Regulation of insurers

Intermediaries: agents, brokers

Module B [LWM22B]

Insurance contract formation

Duty of disclosure and misrepresentation; remedies for breach

Formation of the contract including: offer, acceptance, premiums

Module C [LWM22C]

The insurance contract and its terms

Insurable interest in property insurance and life assurance

Terms of the contract

Construing the terms of the contract

Module D [LWM22D]

Claims process

Causation: determining the casue of the loss; losses caused by the insured

Claims: the claims process, the requirement of good faith

Subrogation: the insurer's, the insured's and the other parties' rights

Abandonment

Double insurance and contribution between insurers

Indemnity and reinstatement, mitigation of loss, reinstatement under contract and under statute

Alternative dispute resolution mechanisms: the ombudsman

Sequence:
Module A first, Module D last.

Textbooks:
John Lowry and Philip Rawlings, Insurance Law: Doctrines and Principles 2nd ed (Oxford: Hart Publishing, 2005), ISBN: 9781841135403

John Lowry and Philip Rawlings, Insurance Law: Cases and Materials (Oxford: Hart Publishing, 2004), ISBN: 9781841132747

International commercial insurance law

Module A [LWM70A]

The contract of reinsurance

The definition of reinsurance

Regulation of reinsurance business

Forms of reinsurance: facultative contracts; treaties

Relationship between assured, insurer and reinsurer

Formation and insurable interest

Utmost good faith

Express, implied and incorporated terms

Module B [LWM70B]

Reinsurance losses and claims

Back to back cover

Follow the settlements and follow the fortunes

Claims co-operation and claims control clauses

Aggregation of losses

Post-loss allocation

Inspection clauses

Module C [LWM70C]

Liability insurance

Forms of liability insurance: event, injury, claims made

Compulsory insurance regimes: motor; employers’ liability; maritime law

Professional indemnity insurance

Directors’ and Officers’ insurance

Product liability insurance

Defence costs

Third party rights

Module D [LWM70D]

Conflict of laws in insurance

Jurisdiction of the English courts: European cases

Jurisdiction of the English courts: non-European cases

Law applicable to insurance and reinsurance contracts: the different regimes

Law applicable to insurance and reinsurance contracts: express choice; absence of choice

Significance of the applicable law

Sequence:
Module A must be attempted before Module B.

Textbooks:
Textbook details TBC.

Marine insurance law

Module A: [LWM39A]

The contract of marine insurance

The nature of a marine insurance contract

The Marine Insurance Act 1906

The requirement of insurable interest

Wagering and gaming contracts

The formation of a marine insurance contract

The construction of a marine insurance contract

The policy

Types of marine insurance policies (time/voyage policies; floating policies/open covers; valued/unvalued policies; composite/joint policies)

The assignment of rights under a marine insurance policy

Module B: [LWM39B]

The doctrine of Uberrimae Fidei and insurance contracts

Nature of the duty of utmost good faith

The assured's pre-contractual duty of good faith: misrepresentation and non-disclosure

The assured's post-contractual duty of good faith and the duty in respect of claims

The insurer's duty

Remedies

The role of the broker

Module C: [LWM39C]

The terms of the contract; risks; and causation

Terms:
- Premium
- The assured and the subject matter of the insurance
- The attachment, duration, alteration and termination of the insured risk (including change of voyage, deviation and delay)
- Warranties (express and implied)
- Conditions and other terms
- The Institute Clauses

Risks:
- Marine risks
- War risks
- Excepted risks

Causation

Burden of proof

The sue and labour clause (mitigation of loss)

Module D: [LWM39D]

Indemnity, subrogation and contribution

The principle of indemnity

The measure of indemnity:
- Partial loss
- Actual total loss
- Constructive total loss

Insurers’ right of subrogation upon payment

Contribution between multiple underwriters

Third parties’ rights against insurers

Sequence:
The modules must be attempted in order.

Textbooks:
Susan Hodges, Law of Marine Insurance (London: Cavendish Publishing, 1996), ISBN: 9781859412275

Susan Hodges and Roy Carlile, Cases and Materials on Marine Insurance Law (London: Cavendish Publishing, 1999), ISBN: 9781859414385