Insurance

Some General Principles II

Insurable Interest An insured must have an insurable interest in the matter insured. He must stand to lose in the event of the insured event occurring. If an insured lacks the interest in the subject matter insured, the policy is enforceable.… Read the rest

Some General Principles I

Deliberate Acts v Accidents Insurance is not generally available in respect of acts deliberately undertaken. It is usually limited to cover for risks that are largely outside the control of individuals. However, the fact that the action is deliberate however does not necessarily preclude insurance, particularly where the act is not intentional.… Read the rest

Public Liability Insurance

Risks Covered Public liability refers to liability incurred to members of the public by reason of negligence or breach of duty in the context of accidental events and occurrences. Public liability insurance policies generally covers accidental loss, damage and injury, and related costs and expenses. … Read the rest

Professional Indemnity Insurance

Professional Firms Traditionally professionals referred to the church, medicine and the law. It now it refers to any service provider, where intellectual skill or manual skill controlled primarily by intellectual skill is involved. There must be a predominance of intellectual skill in the exercise of the manual skill.… Read the rest

Product Liability Insurance

Cover Product liability cover will typically provide an indemnity against sums which the insured becomes liable to pay as compensation for accidental bodily injury or illness to persons, or for accidentally damaged property, caused by defects in goods sold, supplied or repaired by it.… Read the rest

Motor Insurance Issues

Mandatory Insurance It is unlawful to use a mechanically propelled vehicle unless it is insured against third-party liability (as a minimum) under an approved policy of insurance. EU Directives and the Road Traffic Act require motor insurance policies to cover liability for negligence of and the consequences of injury caused by the driver. … Read the rest

Motor Insurance

Motor Insurance A motor insurance policy must insure drivers or persons who use motor vehicles (other than excepted persons) in respect of sums which may be liable to pay to any person for damages and costs on account of injury to person or property caused by the negligent use of a mechanically propelled vehicle to which the policy applies.… Read the rest

Material Damage Insurance

Nature of Risk A material damage policy is commonly referred to as a buildings or fire insurance policy. The risks and types of loss covered are wider than just fire damage risks and they have expanded over time.… Read the rest

Life Insurance Issues

Overview Life policies are fundamentally different from other policies of insurance. They are not policies of indemnity which compensate a person for loss actually incurred on the occurrence of an insured risk. It is sometimes said that a life insurance policy is a contingency policy, rather than an indemnity policy.… Read the rest

Liability Insurance Overview

Insurance for Liability Liability insurance indemnifies the insured person against legal liability to third parties. The liability may be for personal injury, death, damage to or loss of property and financial and economic loss. The law of tort / civil wrongs defines circumstances in which a person may become liable to compensate another.… Read the rest