L.L.B-L.LB General 4th Sem LAW OF INSURANCE(University of Pune, Pune-2013)

II - LL.B. (Semester - IV)

LAW OF INSURANCE

(Optional Paper (B)) (2003 Pattern)

Time :3 Hours]                                                                                               [Max. Marks :100

Instructions to the candidates :

1)      All questions are compulsory.

2)      Figures to the right indicate full marks.

Q1) “A contract of Insurance is a contract of uberrimae fidei” Explain the

fundamental principles of Insurance.

OR

State and explain the various types of Insurance.

Q2) Explain any two of the following :

a) Return of Premium.

b) Insurable interest.

c) Subrogation and Contribution.

d) Pure risks and Speculative risks.

[20]

[20]

by Authority’, under the Insurance Act, 1938.                                         [15]

OR

Define the term “Accident” and discuss the provisions relating to ‘Application

for claims for relief’ under the Public Liability Insurance Act, 1991.

Q4) Explain the provisions relating to ‘Compensation Payable’ under the Personal

Injuries (Compensation Insurance) Act, 1963.                                         [15]

OR

Discuss and explain the essentials of a Life Insurance Contract under the

Life Insurance Corporation Act, 1956.

P.T.O.

Q5) Explain the concept of ‘Acquiring a Company’, and discuss the provisions

relating to ‘Transfer of Shares’ of Indian Companies under the General

Insurance Business (Nationalization) Act, 1972.                                     [15]

OR

Examine the powers and functions of the Authority under the Insurance

Regulatory and Development Authority Act, 1999.

Q6) Explain any two with reference to the Motor Vehicles Act, 1988 :     [15]

a) Compensation in case of hit and run Motor Accident.

b) Rights of third parties on insolvency of insured.

c) Requirement of policy and limit of liability.

d) Liability of Insurance company for damage to property.

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