DESCRIPTION
Liability is a fascinating subject which has developed over centuries by case precedence and statute. In recent years as we have become a more aware and litigious society, case law and legislation have developed and as a result this part of the civil justice system is complex and wide reaching.
We will consider the exposures that the liability class of insurance may face together with supporting legislation. We will also look at how the law has changed in recent years and the effect that has had on the insurance industry. We will also examine the challenges that both the insured and the underwriter face and the management of risk in this area.
OBJECTIVES
- Determine the difference between criminal and civil law
- Recognise how liability arises through the law of tort
- Identify underwriter factors of liability insurances
- Explain how a policy will respond when a claim is submitted
