Master of Law (LL.M.) Group 2 Business Law Law of Insurance 2025-26 Question Paper - Mumbai University | munotes

Questions asked in this paper

• Please read the Instructions carefully. Do not disclose your identity or mark any inscriptions, signages etc. anywhere on the answer sheets. Use Examples, Citations and Case Laws references, wherever asked for and required.

SECTION I - Form 06693, examination of 06/04/2026. Attempt any four questions, all questions carry equal marks (any four of seven) 100 Marks

1. 1. What is a Voyage policy ? Explain elaborately, the circumstances in which deviation of a Voyage is excused and is not excused.
   Read the model answer
2. 2. Explain the need, nature, types and importance of the Contract of Insurance in a country like India. Discuss the various types of benefits and challenges for the Insurer and the Insured in a Contract of Insurance.
   Read the model answer
3. 3. Trace the development of the Law and Business of Insurance in India. Discuss the various phases of Nationalization, Privatization and Globalization of Insurance in India.
   Read the model answer
4. 4. What Is an Accident Policy ? Explain as to how are the Assessments of Liability and compensation done for Accident Policies by the Insurance Companies ? Also discuss the concept of Contributory Negligence with respect to Insurance Policies.
   Read the model answer
5. 5. Explain the nature and scope of Fire Insurance. Describe the various general terms and conditions that are included in a 'Standard Fire Insurance Policy' ?
   Read the model answer
6. 6. What do you understand by Insurable Interest, Subrogation, Causa Proxima and Indemnity in context of the Laws of Insurance. Also explain the salient features of the named concepts.
   Read the model answer
7. 7. Write notes on Any Two of the following:
   • a) Need and Challenges of Social Insurance in India
   • b) Perils insured against in Standard Fire Policies
   • c) Motor Accidents Claims Tribunal
   • d) Reinsurance and Double Insurance
   Read the model answer

Read from the scan above, so a character or two may differ. The scan is the original.