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Course Title: Insurance Law L T P/ S SW/ FW Tota L Credi T Units

The 3 credit course on Insurance Law introduces students to the law applicable to the insurance sector in India. It covers the different types of insurance like life, marine, fire, and general insurance. The course objectives are to provide knowledge of insurance business and applicable legal remedies. The prerequisites are an understanding of everyday life and business affairs. Upon completing the course, students will have sufficient knowledge of insurance related law and practices. The syllabus is divided into four modules covering topics like the development of insurance, principles of insurance, life and general insurance concepts, marine insurance principles and classifications, and motor vehicle insurance claims and liability.

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92 views3 pages

Course Title: Insurance Law L T P/ S SW/ FW Tota L Credi T Units

The 3 credit course on Insurance Law introduces students to the law applicable to the insurance sector in India. It covers the different types of insurance like life, marine, fire, and general insurance. The course objectives are to provide knowledge of insurance business and applicable legal remedies. The prerequisites are an understanding of everyday life and business affairs. Upon completing the course, students will have sufficient knowledge of insurance related law and practices. The syllabus is divided into four modules covering topics like the development of insurance, principles of insurance, life and general insurance concepts, marine insurance principles and classifications, and motor vehicle insurance claims and liability.

Uploaded by

Nancygirdher
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Course Title: Insurance Law L T P/ SW/ TOTA

S FW L
CREDI
Course Code:
T
UNITS
3 - - - 3
Credit Units: 3

Course Objective:

The objective of the course is to acquaint the students with the law applicable and
applied in Insurance Sector and to provide knowledge regarding Insurance
business in India with respect to its various types like Life Insurance ,Marine
Insurance , Fire & general Insurance , besides, the remedial measures thereto .

Pre-requisites:

The student should have understanding of day today affairs of life, business &
securities with aptitude to comprehend the various security cum Insurance
measures and related activities carried by Insurance Companies.

Student Learning Outcome:

This course acquaints students with the Insurance Business and its various types
.After undergoing the course the student will be having sufficient knowledge of
law related to Insurance and Insurances Practices practices concerning
life,marine & general Insurance etc .

Course Contents/Syllabus:
Module I: Introduction

Historical Development, Functions & Nature of Insurance , Kinds , Principals of


Insurance , Premium , Risk , Assignment & Subrogation , Insurance
Intermediaries, , IRDA , Insurance Frauds

Module II: Life & General Insurance


Concepts , Events insured in life, Circumstances affecting risk , Amounts
received & Persons entitled , Settlement of Claim , LIC of India , General
Insurance especially Fire , Burglary & Consumer Insurance
Module III: Marine Insurance

Concepts ,Principles & Classification of Marine Insurance .Assignment of


Marine Insurance Policy , the Voyage , Peril of the Sea ,Loss & Abandonment ,
Measures of Indemnity

Module IV: Motor Vehicle Insurance


etc
Motor Vehicle Insurance , Claims , No Fault Liability etc ,Extent of Statutory
Liability , Vicarious Liability & its extent , Compensation on structured formula
basis , Consumer Claim & Insurers Liability, Ombudsman , Motor Vehicle
Claims Tribunal

Pedagogy for Course Delivery:


The course will be conducted using lectures, assignments. The students will be
acquainted with important case laws on the subject to understand the intricacies
involved in the Insurance Contracts /transactions.

Lab/ Practical details, if applicable: NA

List of Experiments: NA

Assessment/ Examination Scheme:


Assessment/ Examination Scheme:

Theory L/T Lab/Practical/Studio End Term


(%) (%) Examination

30% NA 70%

Theory Assessment (L&T):


Continuous Assessment/Internal Assessment
End Term
Components Examination
(Drop
Mid- Project Viva Attendance
down)
Term
Exam

Weightage
(%)
10% 10% 5% 5% 70%

Text and References:


Law of Insurance by Avtar Singh
Law Relating to Marine Insurance by B.C.Mitra
Modern Law of Insurance by M,C. Gee
Manual of Insurance Laws – Bharat
Modern Law of Insurance in India by Murthy & Sarma
Land Mark Judgments on Insurance under Consumer Protection Act : NCDRC
The Law of Consumer Protection by G.B. Reddy

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