Summary LML4805 Notes for Exam.

Contents INTRODUCTION CHAPTER 1 Concept of Insurance; Origin and Historical Development of the Insurance Contract and Insurance Law; Classifications CHAPTER 2 Sources of South African Insurance Law CHAPTER 3 Nature and Characteristics of the Insurance Contract CHAPTER 4 Requirements for a Valid Insurance Contract CHAPTER 5 Parties to the Insurance Contract CHAPTER 6 Insurable Interest CHAPTER 7 Misrepresentation and the Insurance Contract CHAPTER 8 Insurance Warranties CHAPTER 9 Risk CHAPTER 10 Premium CHAPTER 11 Insurance Intermediaries CHAPTER 12 Extent of the Insured’s Claim: Principle of Indemnity CHAPTER 13 Subrogation, Salvage and Contribution CHAPTER 14 Enforcement and Cession of Insurance Claims; Termination of the Insurance Contract CHAPTER 15 Interpretation of the Insurance Contract INTRODUCTION The LLB course in Insurance Law involves a fairly intensive and detailed study of the contractual aspects of insurance law. The prescribed textbook for this course is as follows: Reinecke MFB, SWJ van der Merwe, JP van Niekerk & PH Havenga General Principles of Insurance Law (2002) Lexis Nexis Butterworths, Durban. As the existing Study Guide for LML405S (Insurance Law) is based on a previous edition of this work, it can no longer be used for this course. Therefore, TUTORIAL LETTER 501 REPLACES THE STUDY GUIDE FOR LML405S and should be referred to in its place. This tutorial letter, like the study guide it replaces, is no more than a "guide" to your study of insurance law in general, and to the prescribed textbook in this course in particular. In each chapter in this tutorial letter, you will find some introductory and explanatory comments on some of the various topics treated in this course. You will also find an indication of the various paragraphs in the textbook (“Reinecke et al”) which you should either READ for background purposes or STUDY in detail for examination purposes, and of the order in which you should read or study these paragraphs. READ means just that: you should carefully and attentively read through the relevant paragraph for background purposes, ensuring that you both comprehend what you are reading and identify the relevance to the topic concerned. STUDY means that you should not only comprehend the contents of the paragraph, but also memorise it for the purposes of the examination. Given the level of this course and the nature of the textbook, an instruction to study a particular paragraph in the textbook means that you have to study only the text in that paragraph, and that you need not (but obviously may, should you wish) descend into the footnotes attached to the paragraph. However, bear in mind that you will have to read and study your prescribed cases (as listed in Tutorial Letter 101) in conjunction with the textbook and may therefore have to 3 LML405S/501 incorporate the judgments in those cases, or at least parts of them, as a “footnote” or appendix to the relevant paragraphs of the textbook. Each chapter further contains a list of questions on the topics covered in that chapter. These questions are set merely to assist you in ascertaining whether or not you have picked up on what we consider to be some (note, not all) of the more important issues involved, and whether or not, therefore, you have covered the material in sufficient depth. They are not an indication of the type of question you may expect in the examination, and we shall not provide you with any “model answers” to them. Lastly: we have included a number of diagrams at the end of each chapter to help you understand the structure (and contents) of this course. Note that these diagrams are not intended to be a complete summary of the study material. You have to study the diagrams, in conjunction with the prescribed study material.