Insurance Law – Unit III LLB Class Notes

Life Insurance: Nature and scope of Life Insurance

Kinds of Life Insurance

The policy and formation of a life insurance contract

Event insured against Life Insurance contract

Circumstance affecting the risk

Amount recoverable under the Life Policy

Persons entitles to payment

Settlement of claim and payment of money

Life Insurance Act, 1956

Insurance against third party rights

General Insurance Act, 1972

The Motor Vehicles Act, 1988 – Sec. (140-176)

Nature and scope

Absolute or no fault liabilities

Third party or compulsory insurance of motors vehicles

Claims Tribunal

Public Liability Insurance

Legal aspects of Motor Insurance

Claims – Own Damages Claims and Third Party Liability Claims