Understanding Insurance Law: The Bolts and Nuts

Topics covered will include the fundamental requirements of an insurance contract, the duty to make a fair presentation of the risk (what information needs to be disclosed and the penalties for breach of that duty; differences between consumer and commercial insurance), the role of the broker/intermediary, understanding the contract (how it will be interpreted by the Courts; the role of insurance warranties; implied terms and other standard conditions), how to make a claim, disputes with insurers, how worldwide insurance programmes work, and much more.

COURSE CONTENT

• The fundamental requirements of an insurance contract.
• contract and what form it should be in
• The duty to make a fair presentation of the risk
• Insurers and the penalties for breach of that; the particular issues in relation to subscription markets commercial contracts and consumer contracts.
• The role of the broker/intermediary
• Responsibilities? How do the brokers' duties arise and how is compliance with those duties to be judged?
• Key terms in the insurance contract
• Contract and who can have the benefit of the insurance (including the Contracts (Rights of Third Parties)
• Understanding an insurance contract
• Claims - Notification requirements and the consequences of late notification and other key claims clauses
• Operation of claims control and claims cooperation clauses in facultative and direct contracts
• Dispute resolution - Different forms of dispute resolution including ADR and Arbitration
• Particular limitation periods applicable to insurance

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.