Understanding the Contract of Insurance

The Understanding the Contract of Insurance Workshop provides participants with knowledge and understanding of the formation of a contract and main principles governing the formation of insurance contracts within the insurance environment. It looks at increasing knowledge and understanding of the classification and interpretation of insurance contract terms, the effects of their breach and other vitiating factors.

At the end of the session, participants will be able to:

• Explain the nature of contractual liability and classification of contracts
• Explain the formation of a contract
• Explain how contract terms are classified under the general law
• Explain how the principles of contract law apply to the formation of insurance contracts.
• Explain the classification and interpretation of insurance contract terms
• Explain how warranties and conditions are formed in insurance contracts
• Explain the effect of breach of warranty or condition
• Explain how illegality arises in insurance contracts
• Apply the classification and interpretation of insurance contract terms to practical situations

Ms. Uthra Ramnarine-Hill is a Chartered Insurer with over twenty (20) years’ experience in the industry. She is an Associate of the Chartered Insurance Institute and the American Institute for Chartered Property and Casualty Underwriters. Ms. Ramnarine-Hill also holds a B.Sc. (Hons) in Management from the University of London. She has extensive experience in underwriting, claims management, reinsurance, compliance and audit and currently holds a senior position with one of the leading Insurance groups in the Caribbean.