2010 11 pgp1-lab_written report_section_b_group 14_26-11-2010

Insurance CONTRACTS Presented By: Group – 14, Sec- B Aritra Banerjee (2010PGP062) Anirban Chakraborty(2010PGP043) Satvik Shelar(2010PGP341) Harisankar R(2010PGP121) Shiv Kumar(2010PGP361)

Introduction ,[object Object],[object Object],[object Object],[object Object],[object Object]

Terminology ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Terminology contd. ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Terminology Contd. ,[object Object],[object Object],[object Object]

Kinds of Insurance ,[object Object],[object Object],[object Object],[object Object]

Life Insurance ,[object Object],[object Object],[object Object],[object Object]

Life Insurance contd. ,[object Object],[object Object],[object Object],[object Object]

Types of life assurance policies ,[object Object],[object Object],[object Object],[object Object]

Fire Insurance ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Marine Insurance ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Other Types of Policies ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Other Types of Policies contd. ,[object Object],[object Object],[object Object]

Nature of the Contract of Insurance ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Special Characteristics of Insurance Contract ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Special Characteristics of Insurance Contract contd. ,[object Object],[object Object],[object Object],[object Object]

Utmost Good Faith ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Utmost Good Faith contd. ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Misrepresentation ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Misrepresentation contd. ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Indemnity ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Indemnity contd. ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

INSURABLE INTEREST ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

[object Object],[object Object],[object Object],[object Object],[object Object],INSURABLE INTEREST (Contd…) Type of Insurancexistence of Insurable Interest At the time of taking the policy At the time of happening of the event Life and Personal Accident Should be present Need not be present Fire and Motor Accident Should be present Should be present

[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],SUBROGATION

[object Object],[object Object],[object Object],[object Object],[object Object],SUBROGATION contd.

[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],DOUBLE INSURANCE

[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],CONTRIBUTION

SUBROGATION V/s CONTRIBUTION SUBROGATION CONTRIBUTION Loss shifts from one person to another Loss is distributed among the insurers It is against third party It is in between insurers One insurer and one policy More than one insurer The right of the insured is claimed The right of the insurer is claimed

Proximate Cause ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Application of the Doctrine ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Modification of the doctrine ,[object Object],[object Object],[object Object],[object Object]

Value of the doctrine ,[object Object],[object Object],[object Object],[object Object]

Mitigation of Loss ,[object Object],[object Object],[object Object]

Commencement Of Policy ,[object Object],[object Object],[object Object],[object Object],[object Object]

Period of insurance ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Re-Insurance ,[object Object],[object Object],[object Object],[object Object]

2010 11 pgp1-lab_written report_section_b_group 14_26-11-2010

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2010 11 pgp1-lab_written report_section_b_group 14_26-11-2010

Editor's Notes