This course is about providing an insight into the laws which underpin the operations of insurance; demonstrate a knowledge and understanding of the laws which form a background to the operation of insurance; demonstrate a knowledge and understanding of the system within which these laws operates and administered; apply knowledge and skills to practical situations.
Upon completion of the course, trainees will be expected to:
• Understand the nature and sources of law and legal systems.
• Understand the concept of legal personality.
• Understand the principles of the law of tort and the
characteristics of the main Torts.
• Understand the law of contract.
• Understand the law of agency and its application to insurance.
• Understand the main principles governing the formation of insurance contracts.
• Understand how the terms of insurance contracts are classied and the eect of a breach of an insurance contract term by the insured and of other vitiating factors.
• Understand the main legal principles governing the making of an insurance claim.
• Understand how losses are measured and how the principle of indemnity applies to insurance claims.
• Understand how the principles of subrogation and contribution apply to insurance claims.
• Nature and sources of law
• Legal personality
• Law of tort
• Law of contract
• Insurance contract
• Void and illegal insurances
• Insurance claims
• Subrogation and contribution
• Coursework assignment with 10 compulsory short answer questions; and a 60-minute exam comprising 50 multiple-choice questions (MCQs)
• 60% coursework nominal pass mark
• 65% exam nominal pass mark
Upon completion, trainees will receive a Certicate of Completion from The Chartered Insurance Institute (CII).