B.A. LL.B. (Five Years) Sem 8 Insurance Law 2015 Dec (100 marks) Question Paper - KSLU

Questions asked in this paper

1. Q1 Define contract of Insurance. Discuss the nature and scope of Insurance Contract.
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2. Q2 "Contract of insurance is based on the principle of Utmost Goodfaith". Discuss.
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3. Q3 What is premium ? Under what circumstances it can be recovered back ?
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4. Q4 Explain the rules governing the assignment of life insurance policy.
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5. Q5 Discuss the principle of subrogation and contribution in Insurance.
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6. Q6 Discuss the doctrine of proximate cause in fire insurance.
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7. Q7 What is 'Deviation' ? Under what circumstances it is excused ?
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Write short notes on any two of the following :

1. Q8 (a) Re-insurance.
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2. Q8 (b) Insurance Regulatory Authority of India.
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3. Q8 (c) "No fault liability" under Motor Vehicles Act.
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Solve any two of the following problems :

1. Q9 (a) Mr. Ronak takes a life policy on the life of his wife. Later he divorces her. Does the policy continue to be valid ?
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2. Q9 (b) 'X' insured his house against fire. Afterwards he assigned the policy of fire to 'Y' without transferring any interest in the house. The house is destroyed by fire. Can 'Y' recover the amount under the policy ?
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3. Q9 (c) A vessel worth Rs. 40 crores was insured for Rs. 15 crores with 'X' insurer and 10 crores with 'Y' insurer. The ship was damaged due to perils and the damages were to the tune of Rs. 8 crores. What amount can be recovered from 'X' and 'Y' ?
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Typed from the KSLU paper above. The paper is the original. Long reading passages are shortened here to their first and last lines and a summary.