This workshop is designed to provide participants with the knowledge, skills and confidence to understand the components of an insurance contract and construction principles. Participants will also gain insight into the application of legal principles in insurance in various claims scenarios.
At the end of the session participants will:
• Describe the components of the insurance contract and construction principles.
• Define classifications of insurance, insurable interest and risk.
• Understand the application of warranties and the duties of both parties as they arise under insurance policies.
• Summarize insurance recoveries and contribution.
• Understand how legal principles in insurance contract apply to motor vehicle third party claims and liability insurance claims.
• Recognize duress, undue influence, unconscionability of bargaining power, and how this affects the capacity of a party.
• Understand how illegality affects a contract
• Describe the remedies for breach of contract and Third-Party rights under contract