Law Of Banking And Insurance Ii

1. Explain the historical development and fundamental principles of insurance law.
2. Differentiate between various types of insurance policies and their applications.
3. Apply the principles of insurable interest, indemnity, and utmost good faith in insurance contracts.
4. Analyze the legal and procedural aspects of insurance claims.
5. Evaluate the role of reinsurance in risk management.
6. Identify and address fraudulent activities in insurance transactions.

13 weeks, about 28 hours in total. Yours will differ.

1. Week 1Module 1: Introduction to Insurance Law

   • Unit 1: Historical Background · 2 hours

     Explore the evolution of insurance practices.. Identify key milestones in the growth of insurance business in Nigeria.. Understand the role of the Insurance Act in regulating the sector..

2. Week 2Module 1: Introduction to Insurance Law

   • Unit 2: Nature of Insurance · 2 hours

     Define insurance and differentiate it from other types of contracts.. Examine the characteristics of insurance contracts.. Identify and describe various types of insurance available..

3. Week 3Module 1: Introduction to Insurance Law

   • Unit 3: Function of Insurance · 2 hours

     Discuss the primary and secondary functions of insurance.. Analyze how insurance provides protection, manages risk, and facilitates economic activities.. Evaluate the role of insurance in savings and investment..

4. Week 4Module 2: Fundamentals of Insurance

   • Unit 1: Insurance Underwriting · 2 hours

     Understand the role of underwriters in evaluating risk.. Identify factors considered in insurance underwriting.. Examine the duties and liabilities of an underwriter..

5. Week 5Module 2: Fundamentals of Insurance

   • Unit 2: Formation of Insurance Contract · 2 hours

     Examine the elements of offer and acceptance in insurance contracts.. Understand the significance of premium payment.. Differentiate between offer, counter offer, and cover notes..

6. Week 6Module 2: Fundamentals of Insurance

   • Unit 3: Parties to an Insurance Contract · 2 hours

     Identify the key parties involved in an insurance contract.. Understand the roles of insurers, insured, agents, brokers, and loss adjusters.. Examine the qualifications and responsibilities of insurance intermediaries..

7. Week 7Module 2: Fundamentals of Insurance

   • Unit 4: Warranties and Conditions · 2 hours

     Differentiate between warranties and conditions in insurance policies.. Analyze the legal implications of breaching warranties and conditions.. Understand the impact of Section 55 of the Insurance Act 2003..

8. Week 8Module 3: Assignment of Insurance Policies

   • Assignment of Insurance Policies · 2 hours

     Define assignment of insurance policies.. Examine the legal and equitable forms of assignment.. Understand the effect of assignment on the rights and obligations of parties..

9. Week 9Module 4: Classification of Insurance

   • Unit 1: Life Insurance · 2 hours

     Differentiate between whole life, endowment, and term insurance.. Examine the concept of insurable interest in life insurance.. Understand the legal implications of life insurance contracts..

10. Week 10Module 4: Classification of Insurance

    • Unit 2: Personal Accident Insurance · 2 hours

      Define personal accident insurance and its coverage.. Examine the limits of coverage and insurable interest.. Understand the different types of personal accident policies and risk categories..

11. Week 11Module 4: Classification of Insurance

    • Unit 3: Marine Insurance · 2 hours

      Understand the concept of marine insurance and marine adventure.. Examine the scope of marine insurance and insurable interest.. Differentiate between voyage, time, valued, and floating policies..

12. Week 12Module 4: Classification of Insurance

    • Unit 4: Motor Vehicle Insurance · 2 hours

      Examine the regulatory mechanisms governing motor vehicle insurance.. Define motor vehicle insurance and user of vehicle.. Understand the different forms of motor vehicle insurance and their limits of coverage..

13. Week 13Module 4: Classification of Insurance

    • Unit 5: Fire Insurance · 2 hours

      Explore the types of fire insurance policies.. Examine the insurer's liability and benefits of fire insurance.. Understand the necessity for fire insurance coverage..

    • Unit 6: Liability Insurance · 2 hours

      Define liability insurance and its types.. Examine the role of liability insurers.. Understand the benefits of liability insurance..