This module focuses on the general principles of contract and business law that apply to insurance, together with the special legal principles that apply mainly or exclusively to insurance. Emphasis is placed on English/US common law but, where appropriate, comparison with Continental and other legal systems is made. The module commences with a consideration of the application of general legal principles to insurance and the scope of the special principles of insurance law including the formation of insurance contracts and the doctrine of insurable interest. It then considers the concept of utmost good faith and the duty of disclosure.
The module also examines warranties and other terms of insurance contracts, void and illegal insurances. Joint and composite insurance is considered along with assignment and agency in insurance. It also looks at the making of an insurance claim; notice and proof of loss, construction of insurance contracts, the doctrine of proximate cause as well as the principle of indemnity. Subrogation and insurance is considered along with double insurance and the doctrine of contribution.