Insurance Flashcards

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1
Q

Scottish Amicable v NAC

A
  • contract, insurer takes consideration of payment of estimated equivalent
  • make up loss to assured
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2
Q

The Medical Defence Union Limited

A
  • contract, 3 present elements:
  • x entitled if y event occurs
  • y event must involve uncertainty
  • x must have insurable interest in subject-matter of contract (right to benefit must be certain)
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3
Q

Department of Trade and Industry v St Christopher’s..

A
  • “benefit”
  • sum of money or equivalent service
  • measurable in financial terms
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4
Q

Digital Satellite Warranty Cover Ltd

A
  • DWSC argued contracts were not regulated insurance contracts
  • Held: they could be, therefore in breach of FSMA 2000
  • selling warranty contracts for repair/replacement without authorisation
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5
Q

Griffiths v Fleming

A
  • assumption that insured has insurable interest in own life
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6
Q

Wight v Brown

A
  • assumption of insurable interest in life of spouse/civil partner
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7
Q

Feasey v Sun Life Assurance

A
  • insurable interest discovered from circumstances - no one definition
  • subject of insurance ascertained by terms of policy
  • insurable interest when contract entered and at time of loss (indemnity)
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8
Q

Dalby

A
  • insurable interest when contract entered but need not exist at time of loss
  • policy valid at creation, still valid at death even when cancelled
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9
Q

Macaura v Northern Assurance Co Ltd

A
  • M, shareholder and unsecured creditor of company
  • insurance policy for timber in own name
  • no insurable interest
  • creditor nor shareholder has insurable interest in assets of company
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10
Q

*Cowan v Jeffrey Associates

A
  • C shareholder and company director
  • company owned heritable property
  • C had no insurable interest in property at time loss occured
  • insurable interest must exist at time of loss
    (conclusion of missives is minimum requirement of II)
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11
Q

Mitchell v Scottish Eagle Insurance Co.

A
  • partnership - only II in partnership itself

- no individual interest of joint partners

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12
Q

Fehilly

A
  • ballroom lease
  • tenant insurable interest only in relation to repair as subject in the condition in which lease provided
  • did not cover full reinstatement of destroyed property
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13
Q

Chapman v Pole

A
  • insured can only recover real and actual value of goods
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14
Q

Leppard v Excess Insurance Co Ltd

A
  • indemnity > insured placed in same financial position as before loss
  • recoverable only to market value as agreed when insurance
  • claimed rebuilding = 8k, awarded and upheld 3k
  • anything more than 3k would amount to profit
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15
Q

Sprung v Royal Insurance

A
  • insurers wrongfully declined pay out, later did
  • claim from insured for compensation denied
  • interest on late sums was sufficient compensation
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16
Q

Strachan

A
  • Scots law allow damage claim for compensation

- payment classified as obligation to pay damages for breach of contract

17
Q

Castellian v Preston

A
  • insurers subrogated - could recover money from indemnity in relation to newly sold house fire
  • purpose of subrogation is ensure policyholder is indemnified not not over indemnified
18
Q

Caledonia North Sea Limited v London Bridge Engineering Ltd

A
  • insurance company subrogated - rights of insured

- insurer must raise action in name of insured

19
Q

Lord Napier & Ettrick v Hunter

A
  • subrogation from “top down”
  • insurers entitled to remedy of funds recieved by insured from 3rd party
  • if loss greater than sum insured, won’t get full amount
20
Q

Simpson & Co. v Thomas Burrall

A
  • insurer entitled to realise assets of wreckage if paid a total loss
21
Q

JJ Llyod Instruments “Miss Jay Jay”

A
  • policy covered perils of sea, not design fault
  • not determined by dominant cause of ship loss
  • design not positively excluded in policy
  • insurers liable.
22
Q

“Popi M”

A
  • onus on insured to prove caused loss was included as insured peril
  • insurers do not have to prove contrary
23
Q

Wayne Tank v Pump co Ltd

A
  • positive exclusion of cause of fire in policy meant insurers not liable
  • insurance policy covered course of business in premises other than own
24
Q

Pan Atlantic v Pine Top Industries Co.

A
  • “influence judgment”
  • fact would have had effect on prudent insurer’s mind
  • only entitles insurer to avoid policy if actually induced making of contract
25
Q

Economids v Commercial Union Assurances Co.

A
  • sole obligation of insured was representation of expectation of belief
  • provided that belief honest, insurers could not avoid
26
Q

Southern Rock Insurance Co Ltd v Hafeez

A
  • online forms - what has been asked of consumer
  • Held: no way of knowing what online questions were asked
  • consequently - were any deliberate/reckless?
  • insurers claim of misrepresentation failed: must prove exact information captured
27
Q

Versloot Dredging BV

A
  • court held insured could not use claim due to using fradulent devices (alarm untruth)
  • on appeal, disproportionately harsh to deprive claim
  • cannot make loss in order to make claim/exaggerate extent of claim
28
Q

“The Good Luck”

A
  • insurers failed to give notice of ceasing insurance of ships to bank
  • insurers had breached contractual obligations by failing to notify bank
29
Q

“The Star Sea”

A
  • no duty to disclose during course of policy of developments increasing risk
  • policy may have term requiring disclosure to be made
30
Q

*Hussain v Brown

A
  • burglar alarm
  • question of alarm posed in present tense and answered in affirmative
  • did not constitute continuing warranty
  • fact that alarm was off did not render contract voidable
31
Q

*Ansari v New India Assurance Ltd

A
  • “premises protected by sprinkler system?”
  • answered in affirmative
  • Held: continuing warranty as system integral to building and intended to function automatically
  • insurer refused to pay - system was turned off
32
Q

McPhee v Royal Insurance

A
  • insured completed proposal form based on measurements from previous owner
    Held: material misstatement
  • insured must give answers with reasonable basis for knowledge/belief - not reckless
33
Q

Bereseford v Royal Insurance Company Ltd

A
  • 2 issues to be determined:
    1) contract interpreted using normal principles of interpretation
    2) could contract be enforced in court of law?
  • suicide - 1 year had elapsed - insurers bound to meet claim
  • Held: not given effect to for public policy reasons
34
Q

Dhak

A
  • alcoholic died due to choking in sleep
  • life assurance covered ‘accidents’
  • not accidental, insurers not liable to pay
35
Q

Connelly

A
  • PTSD during course of employment (fire service)
  • policy - ‘accidental bodily damage’
  • PTSD was deemed accidental, distressing circumstances of work were sufficiently unexpected
36
Q

Stockton v Mason

A
  • broker implied authority to enter temporary insurance on behalf of insurers
  • temp. interim insurance contract entered, insurers liable to indemnify