B.A. LL.B. (Five Years) Sem 10 Law of Insurance May 2026 75/25 Question Paper - Mumbai University | munotes

Questions asked in this paper

Q.1 Q.1: Answer the following questions in one or two sentences, any 6 (12 Marks - 2 marks each)

1. (1) Define Insurance.
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2. (2) What is Uberrima fides?
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3. (3) What is a fire insurance business?
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4. (4) What is the meaning of Maritime Perils under the Marine Insurance Act, 1963?
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5. (5) What is a disability benefit?
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6. (6) What is a suicide clause?
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7. (7) What is crop insurance in India?
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8. (8) What are insurance schemes for the sick?
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Q.2 Q.2: Write short notes, any 2 (12 Marks - 6 marks each)

1. (1) Scope and Nature of Insurance.
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2. (2) Employers' liability insurance.
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3. (3) Average clause of a fire insurance.
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4. (4) Principle of Indemnity.
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Q.3 Q.3: Answer the following, any 2 (12 Marks - 6 marks each)

1. (A) A father has taken a policy of Life Insurance on the life of his daughter, who was a minor. The date on which the risk under the policy was to commence, had however been back dated at the request for taking advantages at option. The premium was paid from the back date to the issue of the policy. The policy contained claim 4B mentioned that in the result of intentional self-injury, suicide or attempted suicide, on or after the date on which the risk under the policy has commenced, but before the expiry of the three years from the date of this policy the Corporation's liability shall be limited to the sum equal to the total amount of premiums. The life assured minor committed suicide. A respondent lodged a claim for the whole sum from the date of policy commencement for which his daughter's life had been insured. (1) Whether a father can file a suit against Corporation even after ready to pay the actual payment of the premium paid by him? (2) Is Corporation liable to pay whole sum claimed by respondent as per the commencement date of policy? Why?
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2. (B) Mr. Krishnappa was an owner of the private car and his car was insured under the Comprehensive Policy. He was using his car for tours and travels without traveling license. His car was met with an accident on Goa-Highway and driver along with other three passengers died on the spot. (1) Is Mr. Krishnappa entitled to get the compensation of damaged car? Why? (2) Whether a legal heir of the deceased persons will get the compensation by the insurance company? Why?
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3. (C) Mrs. Alka Desai filed an appeal against LIC of India for a repudiation of liability under a policy own by her deceased husband. While taking the policy the life assured was suffering from kidney problem and gave a false declaration that he had not suffered from any ailment etc. After issuing the policy a life assured died within six month. (1) Whether Mrs. Alka Desai appeal will be accepted by the Court? Why? (2) Whether she will be entitled to get any repudiated claim? Did the policy taken by policy holder null and void?
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4. (D) Mr. Jadhav & his wife each signed a proposal for a joint life policy on their lives & both contributed towards the premium. After the policy was taken the wife committed suicide & the husband claimed the sum assured. The insurer alleged that at the time of taking the policy the husband had no insurable interest in his wife's life. (1) Does the husband have any insurable interest in the life of his wife? (2) Is insurable interest a statutory requirement under the Insurance Act? Why?
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Q.4 Q.4: Answer the following questions in detail, any 3 (39 Marks - 13 marks each)

1. (1) What is the role & functions of the IRDAI?
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2. (2) Describe in detail what is Representation and Warranties.
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3. (3) Examine perils of the sea.
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4. (4) What is social insurance? Explain its significance and various forms.
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5. (5) Enumerate the principle 'utmost good faith'.
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