LL.B. (Three Years) Sem 6 Law of Insurance May 2024 60/40 Question Paper - Mumbai University | munotes

Questions asked in this paper

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1. Q1 Answer Any Six of the Following : 2 X 6 = 12 marks
   • a. What is Cargo-and Hull insurance ?
   • b. What do you mean by Re-insurance?
   • C. What
   • d. meant by right What is Risk? Who is Actuary ?
   • h. What is Deviation?
2. Q1 -What is floating policy under Marine Insurance? fear
3. Q2 Answer Any Two of the following : 2X 6= 12 marks
   • a. Principle of Reinstatement
   • b. Explain Nomination and Assignment
   • c. Discuss the Principle of Uberrima Fides./ FAT,
   • d. the role of third party under Motor Vehicle Insurance Answer Any Two of the following : 2 X 6 = 12 Marks
   • a. Mr. Vinod was an owner of the & his car was insured under the comprehensive policy. He was using his car for Tours & Travels without traveling license His.car was met with an accident on and driver along with other two on the spot Paper Subject Code: 35615 /Law of Insurance
   • i. Is Mr. Vinod entitled to get the compensation of damaged car? Why ?
   • ii. Whether a legal heir of the deceased persons travelling car will get any compensation by the Insurance Company ? Why ?
   • b. Mrs. Sheela insured her life with HIC Insurance Co. letters provided that the policy was to become unenforceable if the assured would cause-her own death before the policy has been in existence for one year. The assured after one year assigned the favor of her daughter and 8 months thereafter she committed suicide out of disgust. Mrs. Sheela was in her complete senses and sound state of mind while committing suicide. filed a‘suit as assignee to claim the amount of the policy Decide whether the Insurer liable to_pay the amount in case-of the
   • c. Mrs. Neha Sharma filed an appeal against LIC of a repudiation of liability under a policy own by her deceased husband. While taking the policy the was suffering from fistula operated two months before taking policy. He had not disclosed material fact of operation in the proposal form. After issuing-the policy.a life assured died Mrs. Neha. Sharma’s appeal will be accepted by the court? Give reason
   • ii. Whether Neha-will be entitled to get any repudiated claim? Did the policy taken by policy holder will be null and void reasons Paper Subject Code: 35615 /Law of Insurance
   • d. Mr. Shankar and his wife each signed-a proposal for a joint policy on their lives and both contributed towards the premium, After the policy was taken the wife committed suicide and 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 wife?
   • ii. Is insurable interest a statutory requirement under the insurance Act? Give elaborate reasons for your answer. St HT?
4. Q4 Answer Any Two of the following : 2X 12= 24 marks
   • a. Explain in functions of Life Insurance Corporation of India under the
   • b. about the functions and powers of the
   • c. elaborate functions, role and duties of the Insurance Regulatory and Development Authority of India) What are the essential features of Fire Insurance? Explain the rights of the insurer at the event of fire

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