The University of Southampton
Courses

LAWS3163 Insurance 2: Introduction to Insurance Regulation

Module Overview

Insurance contracts are subject to an extensive range of regulation. The module considers aspects of insurance and insurance-related regulation. These include: • the role of the Financial Ombudsman Service and the Financial Conduct Authority; • the role of compulsory and quasi-compulsory insurance in society; • the prevention of fraudulent insurance claims; • the interaction of insurance and equality law (eg the regulation of insurance pricing on the basis of gender, sexuality, race, disability and other protected characteristics).

Aims and Objectives

Module Aims

• Discuss in depth the main principles of insurance contract regulation and the commercial and regulatory policies and values which underpin them. • Deal with the particular regulatory principles applicable to insurance contracts, deriving particularly from statutes and codes of conduct. The module will cover: • the role of the Financial Ombudsman Service and the Financial Conduct Authority; • the role of compulsory and quasi-compulsory insurance in society; • the prevention of fraudulent insurance claims; • the interaction of insurance and equality law (eg the regulation of insurance pricing on the basis of gender, sexuality, race, disability and other protected characteristics Learning outcomes

Learning Outcomes

Knowledge and Understanding

Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:

  • the main principles which govern insurance law, including
  • the main commercial and regulatory policies and values underpinning insurance contract law.
  • the existing areas of debate about what the law is and what it ought to be, both in UK and internationally.
Subject Specific Intellectual and Research Skills

Having successfully completed this module you will be able to:

  • analyse relevant legal materials, including international conventions, statutes, case law and standard form insurance contracts.
  • identify key legal and policy issues in their commercial contexts.
  • apply insurance contract law principles, with appropriate legal authorities, in the solution of complex practical problems
  • draft legal advice based upon such problems
  • critically appraise and offer solutions in existing areas of debate in UK and international insurance law
  • identify and locate relevant legal materials, including statutes, case law, standard form insurance contracts and commentary
Transferable and Generic Skills

Having successfully completed this module you will be able to:

  • display clarity and objectivity in written discussion
  • think critically in relation to policy issues
  • plan and manage your studying

Syllabus

This module focuses on the contractual principles used in the insurance regulation. • the role of the Financial Ombudsman Service and the Financial Conduct Authority; • the role of compulsory and quasi-compulsory insurance in society; • the prevention of fraudulent insurance claims; • the interaction of insurance and equality law (eg the regulation of insurance pricing on the basis of gender, sexuality, race, disability and other protected characteristics).

Learning and Teaching

Teaching and learning methods

Teaching methods include Teaching will be by two x 1-hour lectures per week and fortnightly tutorials. Tutorials will develop: 1. the structure of the subject and the presently applicable principles and policies 2. the major controversies and problems existing in relation to the interpretation of the legal provisions 3. draft legal instruments which are expected to change the law applicable 4. your skills in oral communication

TypeHours
Preparation for scheduled sessions48
Wider reading or practice15
Completion of assessment task48
Lecture22
Follow-up work12
Tutorial5
Total study time150

Resources & Reading list

Lowry, Rawlins & Merkin (2011). Insurance Law: Doctrines and Principles. 

Assessment

Formative

Essay

Summative

MethodPercentage contribution
Examination  (2.25 hours) 100%

Repeat

MethodPercentage contribution
Essay  (4000 words) 100%

Referral

MethodPercentage contribution
Examination  (2.25 hours) 100%

Repeat Information

Repeat type: Internal & External

Costs

Costs associated with this module

Students are responsible for meeting the cost of essential textbooks, and of producing such essays, assignments, laboratory reports and dissertations as are required to fulfil the academic requirements for each programme of study.

In addition to this, students registered for this module typically also have to pay for:

Textbooks

One copy of set textbook: Lowry, Rawlins & Merkin, Insurance Law: Doctrines and Principles (Hart, 3rd ed, 2011).

Please also ensure you read the section on additional costs in the University’s Fees, Charges and Expenses Regulations in the University Calendar available at www.calendar.soton.ac.uk.

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