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Insurance Law Course Overview and Objectives

The document outlines the curriculum for the undergraduate course LAW514: Insurance Law, which covers various aspects of insurance claims and settlements. It includes course objectives, prerequisites, and a detailed syllabus divided into five modules focusing on different types of insurance such as life, marine, and motor vehicle insurance, along with regulatory frameworks. The course aims to equip students with specialized knowledge of insurance law and practices.

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simran jaiswal
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31 views1 page

Insurance Law Course Overview and Objectives

The document outlines the curriculum for the undergraduate course LAW514: Insurance Law, which covers various aspects of insurance claims and settlements. It includes course objectives, prerequisites, and a detailed syllabus divided into five modules focusing on different types of insurance such as life, marine, and motor vehicle insurance, along with regulatory frameworks. The course aims to equip students with specialized knowledge of insurance law and practices.

Uploaded by

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

Course Curriculam

Course Code: LAW514 Credit Units L T P/S SW AS/DS FW No. of PSDA Total Credit Unit
Course Level UG 3 0 0 0 0 0 0 3
Course Title Insurance Law

Course This paper provides knowledge regarding claims and settlements related to various types of insurances.
Description :

Course Objectives :

SN
Objectives
.
1 To acquire specialized knowledge of law and practice relating to Insurance.
2 • To understand the structure and substance of insurance policies.
To evaluate the effectiveness of legislation in controlling the insurance industry and protecting the interests of consumers of insurance products and
3
insurers

Pre-Requisites : General

SN. Course Code Course Name

Course Contents / Syllabus :

SN. Module Descriptors / Topics Weightage


Module I: Meaning, Definition & Nature of Insurance • Historical Development of Insurance • Functions of Insurance • Kinds of
1 Introductio Insurance: Life, Fire, Marine and Motor Vehicles Insurance • Principals of Insurance • Premium • Risk: -scope and 20.00
n elements of risk
Module II:
Life Insurance Contract – Nature and Scope • Types of Life Insurance Policies • Establishment and Functioning of LIC,
Life &
2 • Events insured in life • Assignment & Nomination • Circumstances affecting risk, Amounts received & Persons 25.00
General
entitled, Settlement of Claim • General Insurance especially Fire, Burglary & Consumer Insurance,
Insurance
Module III: Nature and scope of Marine Insurance • Principles & Classification of Marine Insurance policies • Assignment of Marine
3 Marine Insurance Policy • The Voyage, Peril of the Sea • Loss & Abandonment • Measures of Indemnity • Settlement of Marine 25.00
Insurance Insurance Claim
Module IV:
Motor Vehicle Insurance • Rights of third parties & Claim for Compensation • No Fault Liability • Extent of Statutory
Motor
4 Liability, Vicarious Liability & its extent Compensation on structured formula basis • Motor Vehicle Claims Tribunal 20.00
Vehicle
,Consumer Claim & Insurers Liability .
Insurance
Module V:
rance Regulatory and Development Authority(IRDA): Object, Power and functions • Insurance Ombudsman • Relevant
5 Grievance 10.00
Regulations and Guidelines issued by IRDA
Redressal

Course Learning Outcomes :

SN. Course Learning Outcomes


This course acquaints students with the Insurance Business and its various types .After undergoing the course the student will be having sufficient
1
knowledge of law related to Insurance and Insurances Practices practices concerning life,marine & general Insurance etc .

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