Insurable Interest as a Requirement for Insurance Contracts: A Comparative Analysis

2018 ◽  
Vol 26 (1) ◽  
pp. 130-154
Author(s):  
Estian Botes ◽  
Henk Kloppers
Keyword(s):  
South Africa ◽  
Comparative Analysis ◽  
Great Britain ◽  
Insurance Contract ◽  
Comparative Approach ◽  
Insurable Interest ◽  
Insurance Contracts

Insurable interest should be considered to constitute a requirement for the validity of an insurance contract. Due to the fact that the difficulties experienced with regard to the doctrine are not unique to South Africa, a comparative approach was adopted that entailed a detailed discussion regarding the definition and application of the doctrine in Great Britain and Australia.

27. Insurance

2017 ◽  
Author(s):  
MA Clarke ◽  
RJA Hooley ◽  
RJC Munday ◽  
LS Sealy ◽  
AM Tettenborn ◽  
...  
Keyword(s):  
Insurance Contract ◽  
Marine Insurance ◽  
Insurance Claims ◽  
Insurance Law ◽  
Insurable Interest ◽  
Insurance Contracts

This chapter deals with insurance and the principles of insurance law. Contracts of insurance may be subdivided into two categories: indemnity insurance and contingency insurance. Under a contract of insurance, the event insured against is interpreted to be uncertain, either in the sense that it may or may not occur, or that the time of the occurrence is uncertain. This chapter first explains how insurance works, with a particular focus on insurable interest, the statutes that govern insurance contracts, and the power of the Financial Conduct Authority to authorise persons wishing to conduct business as insurers. It then considers how an insurance contract is formed and goes on to describe the content and interpretation of the contract. It also discusses the liability and rights of the insurer before concluding with an analysis of marine insurance and insurance claims.

PHILOSOPHICAL BATTLE AGAINST MORAL HAZARD: DO WE NEED LAW METHODOLOGY CHANGE FROM “ALL OR NOTHING PRINCIPLE” TO “PRINCIPLE OF PROPORTIONALITY”?

2021 ◽  
Vol 3 (3) ◽  
pp. 124-138
Author(s):  
Olavi-Jüri Luik ◽  
Mats Volberg
Keyword(s):  
Moral Hazard ◽  
Insurance Contract ◽  
Comparative Approach ◽  
Insurance Law ◽  
Insurance Contracts ◽  
The People ◽  
Principle Of Proportionality ◽  
The Baltic ◽  
European Insurance ◽  
Legal Methodology

Introduction: this article looks into the central problem in insurance law, where the principle of “all or nothing” applied by insurance providers and legislators to moral hazard (if the risks of people are covered with insurance contracts then the people often change their risk behavior to involve higher risks by presuming that the concluded insurance contract always covers the loss incurred) is being replaced by the principle of proportionality in the modern insurance law of Western countries. Purpose: to identify significant methodological changes in determining the scope of performance of an insurance provider’s obligation caused by the application of the principle of proportionality. Methods: the authors use the approach of the Baltic Sea States (e.g. Estonia, Lithuania, Russia and Finland) and PEICL (Principles of European Insurance Contract Law1) in a comparative approach, analyzing the respective paradigmatic methodological shift (which currently among the named countries is directly reflected only in the Finnish Insurance Contract Act2) in the context of practical philosophy. Results: the paper demonstrates the necessity to change the paradigmatic legal methodology, according to which the principle of “all or nothing” would be replaced by the principle of proportionality.

27. Insurance

2020 ◽  
pp. 997-1010
Author(s):  
D Fox ◽  
RJC Munday ◽  
B Soyer ◽  
AM Tettenborn ◽  
PG Turner
Keyword(s):  
Insurance Contract ◽  
Marine Insurance ◽  
Insurance Claims ◽  
Insurance Law ◽  
Insurable Interest ◽  
Insurance Contracts

This chapter deals with the principles of insurance law. First, the chapter explains how insurance works, with a particular focus on insurable interest, the statutes that govern insurance contracts, and the power of the Financial Conduct Authority to authorise persons wishing to conduct business as insurers. The chapter then considers how an insurance contract is formed and goes on to describe the content and interpretation of the contract. It also discusses the liability and rights of the insurer before concluding with an analysis of marine insurance and insurance claims.

scholarly journals Preface

2007 ◽  
Vol 16 (1) ◽  
pp. v-ix ◽  
Author(s):  
Alexei Elfimov ◽  
Ullrich Kockel
Keyword(s):  
United States ◽  
South Africa ◽  
Great Britain ◽  
The Netherlands ◽  
The United States ◽  
The State ◽  
Comparative Approach ◽  
The Relationship

As the new century unfolds, it becomes increasingly clear that contexts in which anthropology is practised as an established discipline, scholarly enterprise, applied endeavour, profession and intellectual pursuit keep changing, altering and transforming. The general aim in putting together this collection of essays was to test the state and condition of the relationship between anthropology and society in a number of countries where anthropological discourses and ethnographic activity have had a tangible presence in academia and beyond. Adopting a comparative approach – anthropology’s long-term companion – that we hoped would once again allow us to highlight where things have developed differently and where they seemed the same (or indeed were only equally illusorily), we asked leading practitioners from Austria, Brazil, France, Great Britain, the Netherlands, Russia, South Africa and the United States to ponder the same, rather broadly posed, set of questions.

The World Economic Forum Principles on "Climate Governance on Corporate Boards": can soft law help to face climate change around the world?

2020 ◽  
pp. 37-55
Author(s):  
Sabrina Bruno
Keyword(s):  
Climate Change ◽  
South Africa ◽  
Comparative Analysis ◽  
Boards Of Directors ◽  
Soft Law ◽  
Corporate Boards ◽  
World Economic Forum ◽  
Financial Factor ◽  
The World ◽  
World Economic

Climate change is a financial factor that carries with it risks and opportunities for companies. To support boards of directors of companies belonging to all jurisdictions, the World Economic Forum issued in January 2019 eight Principlescontaining both theoretical and practical provisions on: climate accountability, competence, governance, management, disclosure and dialogue. The paper analyses each Principle to understand scope and managerial consequences for boards and to evaluate whether the legal distinctions, among the various jurisdictions, may undermine the application of the Principles or, by contrast, despite the differences the Principles may be a useful and effective guidance to drive boards' of directors' conduct around the world in handling climate change challenges. Five jurisdictions are taken into consideration for this comparative analysis: Europe (and UK), US, Australia, South Africa and Canada. The conclusion is that the WEF Principles, as soft law, is the best possible instrument to address boards of directors of worldwide companies, harmonise their conduct and effectively help facing such global emergency.

Non-standard functions and structures of ministries of finance under economic challenges: A case study of Western governments

2020 ◽  
Vol 26 (11) ◽  
pp. 2448-2471
Author(s):  
S.V. Anureev
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Comparative Analysis ◽  
Great Britain ◽  
Central Banks ◽  
Economic Recovery ◽  
Budget Process

Subject. This article examines the functions and management structures of central financial bodies and related parliamentary and governmental structures in Australia, Canada, Great Britain, Japan, Germany, France and Italy. Objectives. The article aims to identify non-standard functions and structures that go beyond the classical responsibility of finance ministries as a central part of the budget process arising from current economic challenges. Methods. For the study, I used a comparative analysis. Results. The article describes the important new functions of financial authorities and treasuries of Western governments aimed at economic growth and economic recovery. Conclusions. The organizational and management structures and functions of the ministries of finance go far beyond the budget process, overlap with and dominate the functions of central banks and ministries of economic development.

Cláusulas de franquicia o deducible en seguros de responsabilidad civil en el Derecho español: Naturaleza y efectos respecto de terceros perjudicados

2018 ◽  
pp. 101
Author(s):  
Rafael Lara González
Keyword(s):  
Civil Liability ◽  
Third Parties ◽  
Insurance Contract ◽  
Third Party ◽  
Liability Insurance ◽  
Legal Doctrine ◽  
Insurance Contracts ◽  
Spanish Law ◽  
Palabras Clave ◽  
Legal Nature

ResumenPese a su ubicuidad en la práctica contractual, las cláusulas de franquicia han recibido tratamiento incidental en la doctrina. La discusión sobre ellas se ha enfocado en los contratos de seguros de responsabilidad civil, y en la interpretación del artículo 76 de la Ley española de Contrato de Seguro. En este contexto se ha tratado de establecer si el asegurador puede o no oponer la cláusula de franquicia al tercero perjudicado. El presente trabajo analiza la cláusula de franquicia en la obligación principal del asegurador, su naturaleza jurídica, y examina su relación con los terceros perjudicados. La consideración principal a este respecto estará en si nos encontramos ante un seguro obligatorio o ante un seguro voluntario de responsabilidad civil. Palabras clave: Contrato de seguro; Cláusula de franquicia; Terceroperjudicado; Responsabilidad civil.AbstractDespite their ubiquity in contractual praxis, deductible clauses have received only incidental treatment in legal doctrine. Discussion on them has focused on civil liability insurance contracts, and the interpretation of article 76 of the Spanish Law of Insurance Contracts. In this context it has been attempted to establish whether the insurer can invoke the clause to oppose the injured third party's claim. This article examines the deductible clause included in the insurer's main obligation, its legal nature, and its relation to injured third parties. The main consideration in this regard will be whether the insurance contract is of a mandatory or voluntary nature.Keywords: Insurance contract; Deductible clause; Injured third party; Civil liability.

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