LL.B. (Three Years) Sem 6 Law of Insurance May 2026 60/40 Question Paper - Mumbai University | munotes

Questions asked in this paper

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

1. Q1 What is Assignment?
2. Q2 What is Third party policy?
3. Q3 What is Cargo Insurance?
4. Q4 What is Lost and Not Lost clause?
5. Q5 What is meant by Seaworthiness?
6. Q6 What is Re-insurance?
7. Q7 State the "Principle of no fault" under Public Liability Insurance Act, 1991?
8. Q8 What are the benefits of medical insurance.
9. Q9 What are disability benefits?
10. Q10 Define Uberrima Fides.

SECTION II - Q.2: Write short notes, any 2 (12 Marks - 6 marks each)

1. Q11 Social Insurance.
2. Q12 Motor Accidents Claims Tribunal.
3. Q13 Principle of indemnity.
4. Q14 Average Clause of fire insurance.

SECTION III - Q.3: Answer the situational problem, any 2 (12 Marks - 6 marks each)

1. Q15 Mr. A and Mr. X, husband and wife are residing at Kochi, they take a joint life insurance policy and they pay for the policy premium jointly. After taking the Policy, Mrs X commits suicide and Mr. A claims for the sum assured from the insurer. The Insurer however contests Mr. A's claim saying that the husband has no Insurable Interest in the wife's life. (i) What is Insurable Interest? It it an essential ingredient in an Insurance, Explain giving suitable reasons. (ii) Does the husband have any Insurable Interest in life of the wife, Explain elaborately giving suitable details?
2. Q16 Mr. Sandeep was driving a scooter and unfortunately dashes into a person crossing road, both fell down and get severe injuries. Unfortunately, the person crossing road dies at the Hospital. Sandeep, has a driving license, the scooter has a third party insurance and also the driver was not going in any wrong direction. It was an unintentional collision. (i) What is the procedure followed to solve the case legally? (ii) Specify the ways to recover insurance amount from insurance company. If they will go to court what could be punishment and penalty to the driver?
3. Q17 The General Insurance Company agreed to indemnify M/s Reliable Estate 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 month prior to the commencement of the Policy a burst of the main pipe occurred. This burst cause damage to the building during the period of the policy. M/s Reliable estate claimed damage from the General Insurance Company. (i) When does the 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?

SECTION IV - Q.4: Answer the following in detail, any 2 (24 Marks - 12 marks each)

1. Q18 Explain the conditions and warranties in marine insurance policies.
2. Q19 Discuss the roles and functions of the IRDA.
3. Q20 Explain the nature of insurance with valid essentials of contract of insurance.
4. Q21 What do you mean by Crop Insurance Policy? Explain.

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