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A) Marine B) Fire C) Casualty. D) Suretyship. E) Life. F) Compulsory Motor Vehicle Liability Insurance

This document outlines key concepts in insurance including the history and concept of insurance, classes of insurance like marine, fire, and casualty, insurable interest in life and property, perfection of insurance contracts through offer/acceptance and premium payment, rescission for concealment or misrepresentation, and claims settlement procedures involving notice, proof of loss, and subrogation. It discusses elements of insurance contracts, the nature of insurance, distinguishing between double and over insurance, and non-default options and reinstatement for life insurance policies.

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Patricia Anne Gonzales
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185 views2 pages

A) Marine B) Fire C) Casualty. D) Suretyship. E) Life. F) Compulsory Motor Vehicle Liability Insurance

This document outlines key concepts in insurance including the history and concept of insurance, classes of insurance like marine, fire, and casualty, insurable interest in life and property, perfection of insurance contracts through offer/acceptance and premium payment, rescission for concealment or misrepresentation, and claims settlement procedures involving notice, proof of loss, and subrogation. It discusses elements of insurance contracts, the nature of insurance, distinguishing between double and over insurance, and non-default options and reinstatement for life insurance policies.

Uploaded by

Patricia Anne Gonzales
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

1. History of Insurance.

2. Concept of Insurance.

3. Elements of an insurance contract.

4 Characteristic/Nature of Insurance Contract.

5. Classes of Insurance.

a) Marine

b)Fire

c)Casualty.

d)Suretyship.

e)Life.

f) Compulsory Motor Vehicle Liability Insurance.

6. Insurable Interest in:

a) Life.

b) Property.

6. Distinguish between Double and Over Insurance; or Multiful or several interest on


the same property.

7. Perfection of the Contract of Insurance.

(A) Offer and Acceptance/consensual.

(aa) Delay in Acceptance.

(bb) Delivery of the policy.

(B) Premium Payment.

(C) Non-default options in Life insurance.

(D) Reinstatement of a lapsed policy of life insurance.

(E) Refund of premium.


8. Rescission of Insurance Contracts.

(A) Concealment.

(B) Misrepresentation/Omissions.

(C) Breach of Warranties.

[Link] settlement and Subrogation.

(A) Notice and Proof of Loss.

(B) Guidelines on Claim Settlement.

(aa) Unfair claims settlement/Sanctions.

(bb) Prescription of Actions.

(cc) Subrogation.

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