Insurance Flashcards
Financial Ombudsman service
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Clark v In Focus asset management
You can’t accept the ombudsman and raise any further proceedings
Harsh v Pearl Life
Makes the insurance policy null and void and illegal if there is no insurable interest at the time of inception
Cowan v Jeffrey Associates
You cannot unsure something over an asset that you do not own. Director and shareholder planning on buying premises from a company however they took out insurance interest before the purchase! The premise was destroyed however they had no insurance because they did not own the premises yet
Wainright v Bland
The assured has interest in his own life
Griffith v Fleming
You have insurable interest in the life of your spouse or civil partner
Garage v Pearl Life insurance
Adult child tried to insure his mothers life as she cooked and kept the house for him- held there was a lack of insurable interest here - no legal obligation for her to keep the house for him
Halford v Kymer
No general right for parents and children to insure each other’s lives- father tried to insure sons life- the payment was refused because of lack of II
Dalby v India & London life assurance
An II in the life of another need only exist at the time when the policy was taken out
Godsall v Bolerdo
The debtor and creditor- creditor has interest in life of debtor to the extent that he is owed
Macaura v Northern Assurance Co
Insured timber in own name, owned by company who he was a share holder of- fire damage- couldn’t claim- held: insurers not liable as timber did not belong to M and thus no II
Fehilly v GA
II of a tenner of a property is limited to the remaining value of the lease
Taylor v Allon
Temporary cover
At the time of renewal, T was contracted by the insurer asking if he still wanted the insurance policy in place- 14 day grace period- he was arrested for driving without insurance on the 15th day- his grace periods only appliednif he had renewed with the same insurer which he did not
Re Coleman Despositries
Standard terms need to be clearly incorporated- here the insurer tried to rely on a standard term regarding immediate notification of a potential claim, but that had not been incorporated
Sunfire Office v Hart
Duration/ renewal of policy
Sugarcane plantation and insurance policy for incut cane if there was a loghtning strike- 2 fires within 2 months and after paying out for those 2 the insurance company cancelled- the 3rd fire happened and it was held the insurance company had legitimately cancelled - premiums were paid back
General Accident Assurance v Chandermill Jain
Indian case where there was property insurance for a risk of flooding near river- insurance company supposedly had inside information on this and cancelled the policy- however this was legitimate- general risk must not have yet occurred and the insurerer must return premiums pro rota
Tesco v Underwriting v Auchuche
Case given in authority for proposition that insurer can avoid a policy when insured recklessly/deliberately fails to disclose a motoring conviction when making an application for insurance
If reckless or deliberate can keep premiums
Careless misrepresentation
The insurance company can reject the claim but keep the premiums
Unipac Ltd v Aegon Insurance Co UK
Two incorrect answers about length of time in business and sole occupancy at premises prevented payout after a fire
Provincial insurance Co v Morgan
Lorry of coal merchant insured under a motor policy
Basis of contract clause related that the vehicle was to be used for coal and coal only - on the day of the loss the lorry was also carrying wood
Insurers didn’t have to pay out
Law reformed aftervthis
Cox v Orion Insurance Co
If breached, a condition precedent to the insurers liability may function to prevent any claim:the liability to pay never arises
Friends Provident Life and Pensions v Sirius
A breach of mere ‘condition’ in insurance law usually only allows the insurer to claim damages for any loss the breach causes it to suffer - c of a strict on this point: no general right to repudiate for a breach of mere condition
Patrick v Royal London Mutual Insurance Society
If the loss was deliberately caused by a person other than the insured then the loss is usually claimable
Safi v Prudential Assurance Co
Policy terms may require the insured to exercise ‘reasonable care’ - theft- plaintiffs goods stolen from the car - was the plaintiff regarded to have taken all reasonable steps to safeguard property
Investors compensation scheme v West Bromwich building society
Construction of contract terms
Discover the meaning that the document would convey to the reasonable person with the background knowledge reasonably available to the contracting parties at the time of the contract
Thomas v Equity Fire Insurance Co
Give words their ordinary meaning
Fire policy exempted liability if petrol started or kept in building insured
Leo Rapp Ltd v McClure
Quantity of metal insured against theft while in warehouse was not covered when the lorry was parked inside a locked compound that lacked a roof
WH Smith v Clinton
Insured published defamation and got sued- the insurance company would not cover him because he brought it on himself
Geismar v Sun Alliance
Stole jewellery
Hayward v Norwich Union
Motor insurance exempt from liability if vehicle left unattended
Victim of robbery left keys in the car - couldn’t claim insurance
Farnoli v GA bonus
Allowed rejection of fraudulent claim and termination of policy from the date of fraud
