Question 3 – Learning Outcome 4 (10 marks) GB Ltd is an insurance broker. They engaged a specialist recruitment company to find an account manager,which led to the employment of Finley by GB Ltd.GB Ltd recently discovered that both GB Ltd and Finley are paying recruitment commission to therecruitment company, of which neither were aware. […]
Explain, with justification, whether Bella is entitled to establish her own brokerage in New Town.Refer to one relevant case in support of your explanation.
Question 2 – Learning Outcome 3 (10 marks) Bella is currently employed by KL Ltd, an insurance broker. KL Ltd operates a single office in New Town.Bella has a contract of employment with KL Ltd, which states that ‘On leaving the firm, employees are notpermitted to work at any insurance broker within 25 miles of […]
Identify, with justification, the tort that Simon may have committed.
Question 1 – Learning Outcome 2 (10 marks) Simon is a claims handler for TP Ltd, an insurer, and works in the first notification of loss (FNOL) department.Simon receives a phone call from one of TP Ltd’s policyholders, to make a claim for damage to theirproperty. The policyholder asks Simon if building repair work on […]
Explain the source of subrogation rights and apply the law to practical situations.
Understand how the principles of subrogation and contribution apply toinsurance claims 9.1 Explain the doctrine of subrogation in insurance. 9.2 Explain the source of subrogation rights and apply the law to practical situations. 9.3 Explain how subrogation rights may be modified ordenied and apply the law to practical situations. 9.4 Explain the nature of double […]
Apply how losses are measured and the principle ofindemnity to practical situations
Understand how losses are measured and how the principle of indemnity applies to insurance claims 8.1 Explain the principle of indemnity. 8.2 Explain the measure of indemnity in various classesof insurance. 8.3 Explain the factors which limit, reduce, extend ormodify the principle of indemnity. 8.4 Explain the methods of providing indemnity. 8.5 Explain the doctrine […]
Describe the parties who can claim on or benefit from an insurance contract.
Understand the main legal principlesgoverning the making of an insurance claim 7.1 Describe the parties who can claim on or benefit from an insurance contract. 7.2 Explain the rules governing notice and proof of loss. 7.3 Explain the insured’s contractual duty to mitigate orprevent an insured loss. 7.4 Explain the doctrine of proximate cause. 7.5 […]
Explain the classification and interpretation of insurance contract terms.
Understand the classification andinterpretation of insurance contract terms, the effects of their breach andother vitiating factors 6.1 Explain the classification and interpretation of insurance contract terms. 6.2 Explain how warranties and conditions are formed ininsurance contracts. 6.3 Explain the effect of breach of warranty or condition. 6.4 Explain how illegality arises in insurance contracts. 6.5 […]
Explain how the principles of contract law apply tothe formation of insurance contracts.
Understand the main principlesgoverning the formation of insurance contracts 5.1 Explain how the principles of contract law apply tothe formation of insurance contracts. 5.2 Explain the concept and key elements of insurableinterest. 5.3 Explain how the law of insurable interest applies tothe main classes of insurance. 5.4 Explain the duty of fair presentation in non-consumerinsurance. […]
Explain the nature of agency and how an agency relationship can be created.
Understand the law of agency and itsapplication to insurance 4.1 Explain the nature of agency and how an agency relationship can be created. 4.2 Explain the relationships between agents, principalsand third parties. 4.3 Explain the nature of an agent’s rights,responsibilities, authority and duties. 4.4 Explain the termination of agency and its effects. 4.5 Explain how […]
Explain the nature of contractual liability and classification of contracts.
Understand the law of contract 3.1 Explain the nature of contractual liability and classification of contracts. 3.2 Explain the formation of a contract. 3.3 Explain how contract terms are classified under thegeneral law. 3.4 Explain defective contracts. 3.5 Explain the circumstances in which a contract maybe discharged. 3.6 Explain the remedies for breach of contract. […]