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QLLM142 Reinsurance Law (Sem 2)

Module Description

Although little understood outside the industry, the emphasis placed by insurance companies and by regulators on insurance companies themselves taking out insurance (hence, reinsurance) to cover the risks involved in the policies they write has meant that reinsurance has acquired an enormous significance in terms of practice and the development of the general principles of insurance law. This module will provide a thorough understanding of this important and rapidly developing area of law and practice.

Module Topics

  • The nature, purpose and parties; types of reinsurance
  • Formation of the contract I: relationship to original contract
  • Formation of the contract II
  • Terms of the contract: express and implied terms, construing the terms
  • Intermediaries and agency law
  • Losses and claims I
  • Losses and claims II
  • Losses and claims III
  • Remedies, termination
  • Insolvency, arbitration, alternatives to reinsurance

Prerequisites

None

Applicable Groupings

Mode of Assessment

2.15 written examination

Credits

22.5 Credits

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