units

LAW4121

Faculty of Law

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Monash University Handbook 2010 Undergraduate - Unit

6 points, SCA Band 3, 0.125 EFTSL

LevelUndergraduate
FacultyFaculty of Law
OfferedClayton Second semester 2010 (Day)
Coordinator(s)Mikaela Reynoldson

Synopsis

The unit focuses on the rights and liabilities of parties to an insurance contract as governed by the common law and statute, with particular reference to the Insurance Contracts Act 1984 (Cth). Topics covered include risk, insurable interest, the duty of utmost good faith, non-disclosure and misrepresentation, conditions, warranties and premium, the role of agents and brokers in the formation of contracts of insurance, construction of policies and standard cover, adjustment of rights including claims, causation, proof and fraud, the indemnity principle and measure of loss, remedies and dispute resolution, subrogation, double insurance and contribution, cancellation of cover. While reference is made to different types of insurance (eg. Life, marine, liability, fire etc) the special rules applying to each type are not covered in detail.

Objectives

Students completing the unit should be able to:

  1. appreciate the role of insurance in managing the risks of business activity;
  2. determine the legal rights and liabilities of the parties to a contract of insurance and advise on issues such as whether a policy covers the event which has occurred and whether the insurer has grounds for refusing the claim in whole or in part; and
  3. evaluate the need for further reform of the legal rules governing insurance contracts.

Assessment

Examination (2.5 hours plus 30 mins reading and noting time): 100% OR assignment (2500 words): 50% plus examination (2.5 hours plus 30 mins reading and noting time): 50%

Chief examiner(s)

Ms Mikaela Reynoldson

Contact hours

Three hours of lectures per week

Prerequisites

LAW1100 or LAW1101 and LAW1102 or LAW1104; LAW2100 or LAW2101 and LAW2102

Co-requisites

LAW2200 or LAW2201 and LAW2202

Prohibitions

This unit may not be taken by a student who has completed or enrolled in Insurance Law BTX5031 OR Insurance Law BTX4031