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Insurance Law

Semester 4 · 17 topics in 5 units

Past question papers for Insurance Law

Unit I 2 topics

  1. Insurance: nature, history and classificationWhat a contract of insurance is, its essential features, how insurance grew from marine trade to the nationalised and then reopened Indian market, and how contracts of insurance are classified, with short notes on re-insurance and reinstatement.7 min
  2. The Insurance Act, 1938 and the IRDAIThe scheme of the Insurance Act, 1938, insurance agents and intermediaries, the composition, tenure, duties and powers of the Insurance Regulatory and Development Authority of India, the Insurance Advisory Committee, and what the 2025 amending Act changed.7 min

Unit II 5 topics

  1. Utmost good faith, non-disclosure and section 45Uberrimae fidei, what a material fact is, the consequences of non-disclosure and misrepresentation, and the three-year bar in section 45 of the Insurance Act after the 2015 amendment, with Mithoolal Nayak, Satwant Kaur, Rekhaben, Manmohan Nanda and Mahakali Sujatha.9 min
  2. Insurable interestWhy an insured must have something to lose, how the rule separates insurance from wagering, who has an insurable interest in a life and in property, when the interest must exist in life, fire and marine insurance, and the policy-on-a-divorced-wife problem.7 min
  3. Indemnity, contribution and subrogationThe principle of indemnity and why life and personal accident policies fall outside it, indemnity compared with guarantee, contribution between insurers in double insurance, and the insurer's right of subrogation after Castellain v. Preston and Economic Transport Organisation, with a worked double-insurance problem.8 min
  4. Risk, causa proxima and loss minimisationWhat risk means in insurance and which risks are insurable, the rule that the insurer pays only for loss proximately caused by an insured peril (Pawsey, Leyland Shipping, s.55 of the Marine Insurance Act), how chains and concurrent causes are handled, and the insured's duty to minimise loss.7 min
  5. Premium: payment, days of grace, forfeiture and returnThe statutory definition of premium, the rule in section 64VB that no risk attaches before premium is received, dishonoured cheques (Inderjit Kaur, Seema Malhotra, Deddappa), days of grace, lapse, revival and non-forfeiture under section 113, when premium is returned, and assignment of the subject matter.8 min

Unit III 4 topics

  1. Life insurance: nature, kinds, formation and riskDefinition and nature of life insurance, the main kinds of policies, how the contract is formed (proposal, medical examination, acceptance, Raja Vasireddy Komalavalli Kamba), the event insured, the circumstances affecting the risk, and the suicide-within-two-years problem.7 min
  2. Life policies: assignment, nomination, claims, and the LIC and GIBNA ActsAssignment under section 38 and nomination under section 39 of the Insurance Act as substituted in 2015, the beneficial nominee rule and Sarbati Devi, who is entitled to payment and how much, claim settlement, and an overview of the Life Insurance Corporation Act, 1956 and the General Insurance Business (Nationalisation) Act, 1972.8 min
  3. Health and medical insuranceThe statutory definition of health insurance business after 2025, the difference between health insurance and medical (mediclaim) insurance, the main features of health policies, pre-existing diseases and the moratorium, cashless claims and TPAs, renewal and portability, government schemes, and the disclosure cases.6 min
  4. Motor insurance: compulsory third-party cover and Claims TribunalsChapter XI of the Motor Vehicles Act, 1988 as substituted in 2019 (in force from 1 April 2022): who must insure, what the policy must cover, exemptions for government and State transport vehicles, the insurer's limited defences under section 150, pay and recover after Swaran Singh, no-fault and hit-and-run liability, Claims Tribunals, and the KSRTC unlicensed-conductor problem.9 min

Unit IV 3 topics

  1. Fire insuranceMeaning of fire insurance and of 'fire' (ignition, accident, Austin v. Drewe, Harris v. Poland), the principles applied to it, the standard fire policy and its conditions and warranties, rights and duties of the insured, claims and the surveyor's report (Pradeep Kumar, Venkateswara Syndicate), with the sugar, jewels and gunny-stock problems solved.9 min
  2. Agriculture, crop, cattle and micro insuranceWhy agricultural insurance is needed and what it aims at, the history of crop insurance in India from the 1972 cotton scheme to the Pradhan Mantri Fasal Bima Yojana, how crop insurance is underwritten and claims settled, the problems in practice, cattle insurance, and micro insurance for low-income people.6 min
  3. Public Liability Insurance Act, claims, Consumer Commissions and the Insurance OmbudsmanThe Public Liability Insurance Act, 1991: no-fault relief for victims of accidents with hazardous substances, compulsory insurance, the Collector's award and the Environment Relief Fund; then the policyholder's remedies, insurance as a service under the Consumer Protection Act, 2019, and the Insurance Ombudsman under the 2017 Rules.9 min

Unit V 3 topics

  1. Marine insurance: nature, interest, value and kinds of policiesMarine insurance under the Marine Insurance Act, 1963: definition and scope, mixed sea and land risks, history, insurable interest (ss.6-17), insurable value (s.18), formation and form of the policy (ss.23-26), and the classification of marine policies: voyage, time, mixed, valued, unvalued, floating, open cover and others.7 min
  2. Marine warranties, voyage, deviation and perils of the seaExpress and implied warranties under ss.35-43 of the Marine Insurance Act (seaworthiness, legality, neutrality), change of voyage, deviation and delay and their excuses (ss.44-51), perils of the sea and the other insured perils, the Inchmaree clause, and the problem of the ship seized for smuggling.9 min
  3. Kinds of loss in marine insurance and abandonmentTotal and partial loss under the Marine Insurance Act, 1963: actual total loss, missing ship, constructive total loss and notice of abandonment, particular average, particular charges, salvage charges and general average, the measure of indemnity, sue and labour, and a general-average jettison problem.8 min