Undergraduate Module Descriptor
LAW3154: Insurance Law
This module descriptor refers to the 2017/8 academic year.
|Term(s) and duration|
This module ran during term 1 (12 weeks) and term 2 (11 weeks)
Mr Peter Tyldesley (Convenor)
|Available via distance learning|
Insurance is a key means of managing and transferring risk. It is a pervasive topic and a working knowledge of insurance law will prove useful in many areas of practise.
Given the importance of insurance, it may seem odd that until recently the law was widely perceived to be archaic, unclear and unfair, with much of the law having been settled in the 18th and 19th centuries.
In 2005 the English and Scottish Law Commissions started a joint review of insurance law. This has led to the passing of two important pieces of legislation: the Consumer Insurance (Disclosure and Representations) Act 2012 and the Insurance Act 2015. Further recommendations are awaiting implementation. The reforms are not retrospective and given the long-term nature of some insurance contracts, practitioners need to be aware of both “old” and “new” law.
You will examine the rationale for the new division between consumer and business insureds and will study the new and old law for each group. Particular attention will be paid to the three key areas—disclosure and representations, warranties and insurable interest. The law reform process will be considered and the role of the Financial Ombudsman Service will be discussed.
This module will complement other commercial law modules but is suitable for both specialist and non-specialist students.