LLB 3 Years Optional Papers Group 2 Law Of Insurance 2017-18 Question Paper - Mumbai University | munotes

Questions asked in this paper

• (1) Answer all questions

1. Q1 Write answers in one or two lines:
2. Q1 is Insurable Interest?
3. Q2 What is Re-insurance? > 3) - What is understood by the term fides State the ‘Principle of no fault’ Public Liability 199 i 5) Name the different perils
4. Q6 What is a Premium notice?
5. Q7 What is Fire Insurance Business? What is Aleatory Contract? > 9) What is discharge of Contract?
6. Q10 What is disability benefits? Write Short Notes on any four of the following: 20
7. Q1 of Insurance
8. Q2 Social Insurance
9. Q4 of
10. Q5 Liability
11. Q6 Controller of Insurance under Insu.ance Act, 1938
12. Q3 Answer any two of the following: 12 marks
13. Q1 “X”s claim Mediclaim policy was repudiated by the Insurance Company. “X” filed complaint under the Consumer Protection Act, The claim was repudiated and repudiation communicated to “X” on The was filed on 21-03-2017
    • i) Isthe complaint maintainable before the Consumer Forum? il) Is there any period of limitation fixed for filing before the Coftsumer Forum? If yes, state the period of limitation £0516 & LAW OF INSURANCE
    • Q. Code :
14. Q2 Mr. Vijay was an owner of the private car & his car was insured under the comprehensive policy, He was using his car for Tours & Travels without travelling license. His car was met with an accident on Bangalore highway & driver along with other two passengers died on the spot
    • i) Vijay entitled to get the compensation of damaged car? W hy?
    • ii) Whether legal heir of the deceased persons will get the compensation by the Insurance Company? Why?
15. Q3 Mr. Kumar & 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 & the husband the sum assured. The insurer alleged that at the time of policy the husband had no insurable interest in his wife’s life
    • i) Does the husband have interest in the life of his wife?
    • ii) Is insurable interest @ statutory requirement under the Insurance Act?
16. Q4 Answer in detail (any four): 48 marks
17. Q1 the principles in Public Liability Insurance Act, 1991,
18. Q2 the role and functions of IRDA
19. Q3 essentials of fire insurance
20. Q4 Enumerate the seaworthiness-of ship,
21. Q5 Explain.the doctrine and doctrine of contribution. What are the difference between these two
22. Q6 Difference between and
    • Q. P. Code: 27472 (3 Hours) [Total Marks: 100 ATKT
    • N.B. (1) Answer all questions
    • (2) The Figures to the right indicate the marks
23. Q1 Write answers in one or two lines: 20 marks
    • a. What is Voyage?
    • b. What is Cargo Insurance?
    • c. Define a Contract of Insurance
    • d. Who is Actuary?
    • e. What is Double Insurance?
    • f. What is meant by seaworthiness?
    • g. What is Lapse of policy?
    • h. What is the meaning of days of grace?
    • i. Who was the chief agent under the Life Insurance Act, 1938?
    • j. What is knock out agreement under Motor Vehicle Act?
24. Q2 Write Short Notes on any four of the following: 20 marks
    • a. Classification of Marine policies
    • b. Amounts recoverable under life policy
    • c. Perils of the sea
    • d. Doctrine of Subrogation
    • e. Principle of Uberrima Fides
    • f. Difference between Assignment and Nomination — Q.3 Answer any two of the following: 12
    • a. “X” is a monthly tenant of a bunglow owned by “Y”. “X” pays rent to “Y” regularly “Y” did not insure the bunglow and therefore “X” declared to avail fire insurance policy himself and accordingly took a policy from a reputed insurance company. The policy was issued in the name of “X”. The bunglow caught fire and the loss was assessed at Rs. 25,00,000/- which was within the limits of the sum insured. The Insurance Company refused to settle the claim
    • i) Is the stand taken by the Insurance Company valid? Give reasons for your answer
    • ii) What is remedy available to “X” under the given circumstances?
    • Q. P. Code: 27472
    • b. Mr. Kumar & 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
    • i) Does the husband have any insurable interest in the life of his wife?
    • ii) Is Insurable interest a statutory requirement under the Insurance Act? Why?
    • c. The General Insurance Company agreed to indemnify M/s. XYZ, the owner of the building. The policy contained clause which stated that it provided indemnity only in respect of events occurring during the period of insurance. Two months prior to the commencement of the policy a burst of the main pipe occurred . This burst caused damage to the building during the period of the policy. M/s. XYZ claimed damage from the General Insurance Company
    • i) When does Insurer liable for making the payment?
    • ii) What are the defences available to the Insurance Company? When does the Insurer risk come to an end?
25. Q4 Answer in detail (any four): 48 marks
    • a. What is Insurable Interest and how it is determined?
    • b. What is social Insurance? Explain its significance and discuss its various forms
    • c. Discuss the powers and functions of IRDA
    • d. Representation and Warranties
    • e. Enumerate the conditions of the policy
    • f. What are the rights of Policy holder in case of nomination (3 Hours) [Total Marks: 100
    • (1) Figures to the right indicate marks
    • (2) Answer all questions on separate sheet of the answer paper Write short answers (not more than two sentences) ay Whatis construction of policy? What is General Insurance business? O What is‘Inchmaree clause? &, 4 was a chief agent under the Life Insurance Act What is children money back a What is meant by seaworthiness?
    • g) What is a Premium notice? S conditions of Children Endowment policy?
26. Q2 shott or Proposal form of Life Insurance > | Assignment under section 38 of Insurance Act 1938
    • c) Machinery Breakdown
    • e) :Doctrine of Subrogation Fire Insurance Contract “ | Policies on Motor 3 (Ay A father taken a policy Insurance on the life of his daughter, who was a minor, The date on W ich the risk under the policy was to commence, had 3 been back at the request for taking advantages atoption was paid gsm’ the back date to the issue of the policy. The policy contained claim, 4B mentioned that in the result ‘of self injury, suicide or on or after the date on which the risk under the policy has commenced, but before the expiry of the three years from the ad of this. liability shall be limited to the sum equal to the total of premiums. The life assured minor committed suicide lodged: a .claim for the whole sum from’ the date of policy for which his daughter's life had been insured Whether a file a suit against Corporation even after ready to the actual payment of the premium paid by him? SP Is Corporation liable to pay whole sum claimed by respondent as per the commencement date of policy? Why? he-policy was October 23, 1988.and it was valid upto October 27, 5 4989, The Motor Vehicles Act, 1988 (hereinafter referred to as New Act) Into force on July 1, 1989, and the accident ‘ed on July 1, 9, accident occurred on Septernber 4, 1 after the New Act came into force but before the expiry of a policy in force, Whether a claimant will be entitled for to the claim? Why? LY fi, New Act limit the liability of insurance companies to p&yment of compensation to extent specified inthe policy? Mrs. Alka filed an appeal against LIC of India fora of liability + ‘under by her deceased husband. While takin policy the life was from kidney problem ‘and gave a declaration that he. had not suffered’ from .any ailment etc. After the . policy: life Whether Mrs. Alka Desai appeal will be accepted by the Court? Why? li, Whether she will be entitled to get any claim? ‘Did the policy by policy holder riull and void? Discuss.in brief the formation of Life Insurance Contract What dre the rights of Policy in case of nomination? What are the different perils seas? Enumerate Insurable Interes under the Fire Insurance Contract Discuss the and functions of thé What are the issued under Motor Vehicle

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