LL.B. (Three Years) Sem 6 Law of Insurance Oct 2025 75/25 Question Paper - Mumbai University | munotes

Questions asked in this paper

SECTION I - Q.1: Answer any six of the following in one or two lines each (12 Marks - 2 marks each)

1. Q1 What is meant by 'Uberrima Fides'?
2. Q2 What is meant by Seaworthiness?
3. Q3 What is Cargo Insurance?
4. Q4 What is suicide clause?
5. Q5 What is lost and not lost clause?
6. Q6 What is Knock for Knock agreement under Motor Vehicles Act?
7. Q7 What is double insurance?
8. Q8 What is disability benefit?

SECTION II - Q.2: Answer any two of the following in brief (12 Marks - 6 marks each)

1. Q9 Explain the essential features of insurance contract.
2. Q10 Classification of marine policies.
3. Q11 Insurance under Motor Vehicles Act.
4. Q12 Doctrine of subrogation.

SECTION III - Q.3: Answer any two of the following situational questions (12 Marks - 6 marks each)

1. Q13 Mr. Rajas house is valued at Rs. 1,00,00,000/- (Rupees one crore only). He declared the value of his house at Rs. 50,00,000/- to the insurance company at the time of taking fire Insurance Policy. The house was burnt and the policy was in force. The loss was assessed at Rs. 40,00,000/- (Rupees forty lac only). Mr. Raja lodged claim with the Insurance company for the said amount of Rs. 40,00,000/- (Rupees forty lac only). The insurance company rejected the claim altogether. (i) Is the decision of the Insurance company valid? Give reasons for your answer? (ii) Is there any period of limitation fixed for filling complaint before the consumer forum? If yes, state the period of limitation.
2. Q14 The petitioner is a widow of a person, who was murdered. He was covered in a L.I.C Policy. She was paid the insurance amount. She claimed double accident benefit by contending that the death was caused by an accident. The matter was considered at different levels by the Officers of the Life Insurance, the Corporation and ultimately by the Ombudsman. The Ombudsman referred to a judgment of the Apex Court in Smt. Rita Devi Vs. New India Assurance Co. Ltd. The Ombudsman has also referred to the F.I.R lodged by the brother of the deceased who clearly mentioned that the deceased person had old enmity with the assailants and due to the said enmity the assailants killed the deceased. (i) What is the Ombudsman? Give definition of accident? (ii) Life assured was murdered. Basic Sum Assured was paid. Whether double accident benefit will be paid to widow? Why?
3. Q15 Mr. Ramrajan 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 Banglore highway & driver alongwith other two passengers died on the spot. (i) Is Mr. Ramrajan entitled to get the compensation of damaged car? Why? (ii) Whether a legal heir of the deceased persons will get the compensation by the Insurance company? Why?
4. Q16 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 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. Reliable Estate claimed damage from General Insurance Company. (i) When does Insurer liable for making the payment? (ii) What are defences available to the Insurance Company? When does the Insurer risk come to an end?

SECTION IV - Q.4: Answer any three of the following in detail (39 Marks - 13 marks each)

1. Q17 What is social insurance? Explain its significance and various forms.
2. Q18 Discuss the roles and functions of the IRDA.
3. Q19 Explain the different kinds of life insurance contract.
4. Q20 Explain the conditions and warranties in marine insurance policies.
5. Q21 What are the features of fire insurance contract?

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