Insurance Law - LAWS3080

 
Faculty: Faculty of Law
 
 
School:  Faculty of Law
 
 
Course Outline: See below
 
 
Campus: Kensington Campus
 
 
Career: Postgraduate
 
 
Units of Credit: 8
 
 
EFTSL: 0.16667 (more info)
 
 
Indicative Contact Hours per Week: 2
 
 
Enrolment Requirements:
 
 
Prerequisite: Academic Program must be either 9200, 9210, 5740 or 9230
 
 
Fee Band: 3 (more info)
 
 
Further Information: See Class Timetable
 
 

Description


This course provides an advanced analysis of law and policy covering general insurance. The insurance industry has undergone unprecedented levels of economic and legal reform, as well as rapid convergence with, and sometimes divergence from, other financial services. This course studies the mix of case law and statutory regulation (including codes) that makes up contemporary insurance law. Note that the course does not cover life insurance or health insurance.


LLM Specialisations


Corporate and Commercial Law; Corporate, Commercial and Taxation Law.

Recommended Prior Knowledge


None

Course Objectives


A candidate who has successfully completed this course should be able to:
  • Understand the role of insurance
  • Under the regulation of general insurance and in particular the differing roles of APRA and ASIC
  • Understand the law as it relates to the formation and content of insurance contracts
  • Have a critical familiarity with the issues that arise in disputes under insurance contracts

Main Topics


  • Key insurance concepts
  • Risk management frameworks
  • Regulatory matrix
  • Regulation structure
  • Prudential regulation
  • Financial services licensing
  • Intermediaries
  • Insurance contract - formation
  • Insurance contract - contract terms
  • Insurance contract - claim and claims terms
  • Insurance complaints and litigation
  • Reinsurance
  • Market in crisis - insolvency case study

Assessment


Class participation Preparation and engagement in class 15%
Essay synopsis 1,000 words 15%
Research essay  5,000 words 70%
 

Course Texts


Prescribed
Please refer to course outline.

Recommended
Please refer to course outline.