Modern Insurance Law in South Africa

Product Details:
Author(s):
Millard, D
Year Published:
2013
Edition
1st Edition
Type:
Print | Soft Cover
Language:
English
About this publication
Modern Insurance Law in South Africa explains the basic principles of insurance law in plain language, given the complicated legal framework within which insurance operates. The statutory framework for insurance law consists of three Acts: the Long-term Insurance Act 52 of 1998, the Short-term Insurance Act 53 of 1998, and the Financial Advisory and Intermediary Services Act 37 of 2002. While the former two Acts regulate insurers and insurance products, the latter Act regulates intermediaries and advisors for financial products, of which insurance is an important part. An added complication is that many aspects of insurance are still regulated by common law.
Modern Insurance Law will assist students and practitioners alike in navigating this terrain. The publication is also an excellent resource for intermediaries and representatives who have to prepare for their regulatory examinations.
About the LegalEase series:
Titles in the LegalEase series make the law easier to understand without losing the context in which it operates. Legal Essence books shed light, in a practical and contextual way, on the legal issues that candidate attorneys and legal practitioners can expect to encounter in practice. The books set out clear frameworks without losing the intricate details of the law. Written by experts in practice, these books are full of useful tips and helpful hints to equip the reader with knowledge that can be applied in practice.
Content
Introduction to and history and sources of insurance law
Basis of insurance
Object of insurance: Insurable interest
Essentials of a contract of insurance
Formation of an insurance contract
Requirements for a valid contract of insurance
Misrepresentation
Contents and interpretation of an insurance contract
Nature and operation of obligations arising from an insurance contract
Risk
Vesting and contents of claim to indemnification or satisfaction; enforcement of claim
Premium
Insurer’s rights based on warranties
Insurer’s rights to subrogation and salvage
Rights and duties of third parties under an insurance contract in favour of a third party; cession and assignment
Performance and reinstatement by the insurer; termination of the insurance
Insurance intermediaries
Double insurance, over-insurance, under-insurance and reinsurance
Short-term insurance, including marine insurance
Long-term insurance
Supervision of insurance business
Bibliography
Table of cases
Table of statutes
Interest / Benefit to
Law students
Candidate attorneys
Schools for Legal Practice
Insurance practitioners