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Unit of study_

LAWS3503: Insurance Law and Risk

Semester 2, 2020 [Normal day] - Camperdown/Darlington, Sydney

Insurance is an essential part of modern life covering a multitude of everyday risks and providing financial security in commerce and life generally. This unit covers the principles and concepts of insurance law and practice. A main focus will be on the rights and liabilities arising under contracts of insurance, under statute (principally the Insurance Contracts Act 1984 (Cth)) and at common law. Broad categories and common forms of insurance, and to a lesser extent reinsurance, and the risks covered by them will be considered. Concepts central to insurance will be dealt with including the duty of utmost good faith, the duty of disclosure, third party rights, proportionality, contribution, subrogation and fraud. Other matters to be considered include the role of insurance brokers and underwriting agents, the regulation of insurers (the role of ASIC and APRA), the progression of insurance from contract formation to claims and the role that insurance plays in the community, corporate life and in dispute resolution. There will be a practical emphasis which involve considering some common types of insurance policies and issues arising under them illustrated by problem solving. Consideration will also be given to the role of risk transfer and insurance in contracting.

Unit details and rules

Unit code LAWS3503
Academic unit Law
Credit points 6
Prohibitions
? 
LAWS5203
Prerequisites
? 
None
Corequisites
? 
None
Assumed knowledge
? 

None

Available to study abroad and exchange students

Yes

Teaching staff

Coordinator Peter Mann, peter.mann@sydney.edu.au
Type Description Weight Due Length
Assignment hurdle task Essay
Written assessment
50% Week 05
Due date: 25 Sep 2020 at 17:00
3000 words
Outcomes assessed: LO1 LO2 LO3 LO4 LO6
Assignment hurdle task Final problem-based assignment
Written assessment
50% Week 11
Due date: 13 Nov 2020 at 17:00
3000 words
Outcomes assessed: LO1 LO3 LO4 LO5
hurdle task = hurdle task ?

Assessment summary

3000 word essay (50%) and final problem assignment (50%)

Detailed information for each assessment can be found on Canvas.

Assessment criteria

The University awards common result grades, set out in the Coursework Policy 2014 (Schedule 1).

As a general guide, a high distinction indicates work of an exceptional standard, a distinction a very high standard, a credit a good standard, and a pass an acceptable standard.

Result name

Mark range

Description

High distinction

85 - 100

  • Completely answers the question.
  • Contains striking originality of approach or analysis.
  • Demonstrates exhaustive or innovative research (where independent research required).
  • Exceptionally well written, structured and expressed.
  • Is otherwise exceptional in some way.

Distinction

75 - 84

  • Completely answers the question.
  • Achieves a critical and evaluative approach to the issues.
  • Content and structure is well organised in support of the argument.
  • Demonstrates extensive research and analysis to support a well-documented argument.
  • Generally well expressed and free from errors.
  • Has a clear structure and is well articulated.

Credit

65 - 74

  • Covers main issues fairly well in answering the question.
  • Contains no significant errors.
  • Demonstrates an attempted critical approach to the issues.
  • Demonstrates reasonably sound research and analysis in addressing the key issues.
  • Has a clear structure and reasonably clear expression.

Pass

50 - 64

  • Identifies the key issues, but does not follow through with a reasoned argument.
  • Contains some significant errors.
  • Displays satisfactory engagement with the key issues.
  • Offers a descriptive summary of material relevant to the question.
  • Superficial use of material, and may display a tendency to paraphrase.
  • Demonstrates little evidence of in-depth research or analysis.
  • Adequate expression.
  • Overall, demonstrates the minimum level of competence in the assessment and satisfies the requirements to proceed to higher-level studies in the degree or subject area.

Fail

0 - 49

  • Does not answer the question.
  • Contains significant or numerous errors.
  • Few or no identifiable arguments.
  • Content that is inappropriate or irrelevant.
  • Lack of research or analysis.
  • Difficult or impossible to understand through poor grammar, expression or structure.
  • Overall, does not demonstrate the minimum level of competence in the assessment.

For more information see guide to grades.

Late submission

In accordance with University policy, these penalties apply when written work is submitted after 11:59pm on the due date:

  • Deduction of 5% of the maximum mark for each calendar day after the due date.
  • After ten calendar days late, a mark of zero will be awarded.

This unit has an exception to the standard University policy or supplementary information has been provided by the unit coordinator. This information is displayed below:

The late submission of a piece of assessment, which has not been granted an extension, will attract a penalty of 10% of the total marks available for the piece of assessment per calendar day or part thereof.

Academic integrity

The Current Student website  provides information on academic integrity and the resources available to all students. The University expects students and staff to act ethically and honestly and will treat all allegations of academic integrity breaches seriously.  

We use similarity detection software to detect potential instances of plagiarism or other forms of academic integrity breach. If such matches indicate evidence of plagiarism or other forms of academic integrity breaches, your teacher is required to report your work for further investigation.

You may only use artificial intelligence and writing assistance tools in assessment tasks if you are permitted to by your unit coordinator, and if you do use them, you must also acknowledge this in your work, either in a footnote or an acknowledgement section.

Studiosity is permitted for postgraduate units unless otherwise indicated by the unit coordinator. The use of this service must be acknowledged in your submission.

Simple extensions

If you encounter a problem submitting your work on time, you may be able to apply for an extension of five calendar days through a simple extension.  The application process will be different depending on the type of assessment and extensions cannot be granted for some assessment types like exams.

Special consideration

If exceptional circumstances mean you can’t complete an assessment, you need consideration for a longer period of time, or if you have essential commitments which impact your performance in an assessment, you may be eligible for special consideration or special arrangements.

Special consideration applications will not be affected by a simple extension application.

Using AI responsibly

Co-created with students, AI in Education includes lots of helpful examples of how students use generative AI tools to support their learning. It explains how generative AI works, the different tools available and how to use them responsibly and productively.

WK Topic Learning activity Learning outcomes
Week 01 Introductory insurance and risk concepts, short history and the regulation of insurance Seminar (6 hr) LO1 LO2 LO3 LO4 LO5 LO6
Week 02 Introducing the Insurance Contracts Act 1984, third party beneficiaries, direct access claims and insurance intermediaries Seminar (6 hr) LO1 LO2 LO3 LO4 LO5 LO6
Week 03 The duty of utmost good faith Seminar (6 hr) LO1 LO2 LO3 LO4 LO5 LO6
Week 04 The duty of disclosure and the duty not to misrepresent covering general insurance and life insurance Seminar (6 hr) LO1 LO2 LO3 LO4 LO5 LO6
Week 05 Causation, standard cover and flood, notification of facts, settlement consent, arbitration and other insurance provisions, subrogation, contribution, aggregation and reinsurance Seminar (6 hr) LO1 LO2 LO3 LO4 LO5 LO6
Week 07 Claims and the application of policy terms – section 54 ICA Seminar (6 hr) LO1 LO2 LO3 LO4 LO5 LO6
Week 08 Fraudulent claims, interest on claims and cancellation Seminar (4 hr) LO1 LO2 LO3 LO4 LO5 LO6

Attendance and class requirements

  • Word count penalty: A piece of assessment which exceeds the prescribed word limit will attract a penalty of 10% of the total marks available for the piece of assessment for every 100 words, or part thereof.  The total word count for essay and other written assessments will exclude: bibliography; footnote numbers; footnote citation; cover page and include: body text; headings and sub-headings; quotations; anything other than numbers and citations in footnotes.
  • Referencing guide: The Sydney Law School expects you to use the most recent version of the Australian Guide to Legal Citation (4th edition, 2018) for your footnoting style, although you should confirm this with your lecturer, and a link to the website where this is set out comprehensively is available at About the Australian Guide to Legal Citation (AGLC).

Study commitment

Typically, there is a minimum expectation of 1.5-2 hours of student effort per week per credit point for units of study offered over a full semester. For a 6 credit point unit, this equates to roughly 120-150 hours of student effort in total.

Required readings

  • Mann's Annotated Insurance Contracts Act, Peter Mann, Thomson Reuters, 7th edition.

Learning outcomes are what students know, understand and are able to do on completion of a unit of study. They are aligned with the University's graduate qualities and are assessed as part of the curriculum.

At the completion of this unit, you should be able to:

  • LO1. understand the nature, structure, and application of common forms of insurance
  • LO2. appreciate the role that insurance has in society, both at a personal and commercial level, and in particular its place in contracting and in the management of the risks of business activity
  • LO3. understand insurance and insurance contracts through the application of key legislation, in particular the Insurance Contracts Act 1984, and the common law
  • LO4. determine the responsibilities, rights, and liabilities of parties to insurance contracts, third party beneficiaries, third party claimants, and insurance intermediaries applying legislation and general law to various scenarios and problems
  • LO5. determine problem-based policy response, and whether there is a legitimate basis for claims declinature, either in whole or in part
  • LO6. evaluate the reforms that have been made to insurance law in Australia and the need for further reform.

Graduate qualities

The graduate qualities are the qualities and skills that all University of Sydney graduates must demonstrate on successful completion of an award course. As a future Sydney graduate, the set of qualities have been designed to equip you for the contemporary world.

GQ1 Depth of disciplinary expertise

Deep disciplinary expertise is the ability to integrate and rigorously apply knowledge, understanding and skills of a recognised discipline defined by scholarly activity, as well as familiarity with evolving practice of the discipline.

GQ2 Critical thinking and problem solving

Critical thinking and problem solving are the questioning of ideas, evidence and assumptions in order to propose and evaluate hypotheses or alternative arguments before formulating a conclusion or a solution to an identified problem.

GQ3 Oral and written communication

Effective communication, in both oral and written form, is the clear exchange of meaning in a manner that is appropriate to audience and context.

GQ4 Information and digital literacy

Information and digital literacy is the ability to locate, interpret, evaluate, manage, adapt, integrate, create and convey information using appropriate resources, tools and strategies.

GQ5 Inventiveness

Generating novel ideas and solutions.

GQ6 Cultural competence

Cultural Competence is the ability to actively, ethically, respectfully, and successfully engage across and between cultures. In the Australian context, this includes and celebrates Aboriginal and Torres Strait Islander cultures, knowledge systems, and a mature understanding of contemporary issues.

GQ7 Interdisciplinary effectiveness

Interdisciplinary effectiveness is the integration and synthesis of multiple viewpoints and practices, working effectively across disciplinary boundaries.

GQ8 Integrated professional, ethical, and personal identity

An integrated professional, ethical and personal identity is understanding the interaction between one’s personal and professional selves in an ethical context.

GQ9 Influence

Engaging others in a process, idea or vision.

Outcome map

Learning outcomes Graduate qualities
GQ1 GQ2 GQ3 GQ4 GQ5 GQ6 GQ7 GQ8 GQ9

This section outlines changes made to this unit following staff and student reviews.

No changes have been made since the unit was last offered

Disclaimer

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