A CRITICAL ANALYSIS OF THE REQUIREMENTS OF INSURABLE INTEREST UNDER THE NIGERIA LAW OF INSURANCE

3,000.00

Category:
RESEARCH INFORMATION

✎: A CRITICAL ANALYSIS OF THE REQUIREMENTS OF INSURABLE INTEREST UNDER THE NIGERIA LAW OF INSURANCE

❐: Chapter 1 – 5
♣:₦3, 000
❑: Ms Word format

: Get complete project material

This study, “A CRITICAL ANALYSIS OF THE REQUIREMENTS OF INSURABLE INTEREST UNDER THE NIGERIA LAW OF INSURANCE” contains concise information that will serve as a framework or guide for your project work. The project study is well-researched for academic purposes and are usually provided in complete chapters with adequate References.

Keywords: A CRITICAL ANALYSIS OF THE REQUIREMENTS OF INSURABLE INTEREST UNDER THE NIGERIA LAW OF INSURANCE

 

RESEARCH BODY

CHAPTER ONE

NATURE AND DEFINITION OF INSURANCE

1.0  INTRODUCTION

1.1 DEFINITIION

1.2 HISTORICAL DEVELOPMENT OF INSURANCE IN NIGERIA

1.3 NATURE OF INSURANCE CONTRACT

1.4 CONCLUSION

CHAPTER TWO

SOME AND FUNDAMENTAL PRINCIPLES OF INSURANCE UNDER THE NIGERIAN LAW OF INSURANCE

2.0 INTRODUCTION

2.1 UTMOST GOOD FAITH

2.2 INDEMNITY

2.3 SUBROGATION

2.4 PROXIMATE CAUSE

2.5 NO PREMIUM, NO POLICY

2.6 CONCLUSION

CHAPTER THREE

THE PRINCIPLE OF INSURABLE INTEREST UNDER THE NIGERIAN LAW OF INSURANCE

3.0 INTRODUCTION

3.1 ORIGIN OF INSURABLE INTEREST

3.2 DEFINITION OF INSURABLE INTERST

3.3 INSURABLE INTEREST AS A MEASURE OF RECOVERY

3.4 NECESSITY OF INSURABLE INTEREST

CHAPTER FOUR

4.0 CLASSIFICATION OF INSURABLE INTEREST

4.1 TIME FOR INSURABLE INTEREST

4.2 INSURABLE INTEREST IN PROPERTY

4.3 INSURABLE INTEREST IN LIFE INSURANCE

4.4 INSURABLE INTEREST IN GOODS

4.5 INSURABLE INTEREST IN LAND AND BUILDING

4.6 EFFECT OF LACK OF INSUURABLE INTEREST

CHAPTER FIVE

5.0 APPLICATION OF INSURABLE INTEREST

5.1 WHAT DISTINGUISHES INSURABLE INTEREST FROM OTHER FORMS OF INSURABLE CONTRACT

5.2 CONCLUSION

CHAPTER SIX

6.0 GENERAL CONCLUSION

6.1 RECOMMENDATION

6.2 BIBLIOGRAPHY

                                              TABLE OF CASES

INDIA

Duraiswamy Iyengar C. v United India Life Assurance Co. AIR 1956 Mad 320: (1956) 1 Mad LJ 344

Ward v Carttar [1865] LR 1 Eq 29. pg 31

KENYA

Stockdale v Dunlop [1840] 6 M & W 224

NIGERIA

Adefuye v. Royal Exchange Assurance (1962) LLR 43

Akpata and Garrick v. African Alliance Co. Ltd (1967) NWLR12

Irukwu v. TIMB [1997]12 NWLR 17

Kayode v. Royal Exchange Assurance (1955-56) W.R.NL.R. 154).

Law Union and Rock Insurance Ltd v. Onuoha [1998] NWLR (pt 555) 576 at 588

UNITED KINGDOM

Berker Gray v. London Assurance (1918) A.C. 101, 112 per Lord Summer.

BOAG v. Standard Marine Insurance Co. Ltd (1971) 2 K.B. 113

Carter V. Boehm [1766] 3 Burr 1905

Castellian v Preston [1883] 11 QBD 380 @ pg. 397

Ebsworth v Alliance Marine Insurance Co[1873] LR 8 CP 596 @ pg 638

Ettrick v. Hunter, [1993] 1 All E.R. (H.L.) per Lord Goth.

Gordon v. Gordon [1812]3 Swan 408 companies.

Griffith v Fleming [1909] 100 LT 765: [1909] 1 KB 805: [1908-10] All ER 760 CA

Hebdon v. West (1803) B & 579

Hedley Byrne & Co Ltd v. Heller & Co Ltd

Joseph v Law Integrity Insurance Co. [1912] 2 Ch 581

Lee v. Jones [1864] 17 KB 482

Lloyd v Fleming [1872] LR 7 QB 299

London Assurance Co. v. Mansel (1879)11 Ch. D. 363

Mark Rowlands Ltd v Berni Inns Ltd [1986] 1 QB 211, 227.

Prudential Insurance Co. v. Inland Revenue Commissioner (1904) 2 K. B. 658 at p. 663.

Reed v. Royal Exchange Assurance Co.[1795] Peake Add Cas 70

Sadlers Co. V. Badcock (1743)2 ATK 554

Samuel v. Pumas (1924) A.C. 431

Siu Yin Kwan and another v Eastern Insurance Co Ltd [1994] 2 AC 199

Yorkshire Insurance Co. Ltd. v. Nisbet Shipping Co. Ltd., [1962] 2 Q.B. 330 at 339

UNITED STATES OF AMERICA

Collingridge v Royal Exchange Assurance Corpn. [1877] 3 QB 173: 47 LJ QB 32: 37 LT 525

Gossett v. Farmers Ins. Co. of Wash., 948 P.2d 1264, 1272

Seagrave v Union Marine Insurance Co [1866] LR 1 CP 305

Sellers v Continental Insurance Co [1974] 48 DLR (3d)369, NS App Div

Sparkes v Marshall [1836] 2 Bing NC 761.

Studio Frames Ltd. v. The Standard Fire Ins. Co., 483 F.3d 239, 245

Sutherland v Pratt [1843] 11 M&W 296

Technical Land, Inc. v. Firemen’s Ins. Co. of Washington, D.C., 756 A.2d 439, 447

TABLE OF STATUTES

INDIA

Marine Insurance Act, 1963

NIGERIA

Cap 128 of the Laws of the Federation, (1958)

Insurance Act 2003

Insurance Companies Act, 1961, Cap. N53 vol. 7 LFN 2004

Insurance Decree of 1991

Insurance Decree, 1997

Motor Vehicle (Third Party Insurance) Act, (1950)

The marine Insurance Act 1961

UNITED KINGDOM

Central Services Act (1986)

Partnership Act (1890)

Life Assurance Act 1774

Marine Insurance Act, 1906

UNITED STATES OF AMERICA

California Commercial Code § 2501

                INTERVIEWS AND PERSONAL COMMUNICATION

Wale Onaolapo (MD/CEO), Sovereign Trust Insurance Plc. A paper delivered at the 6th Practical Maritime Dispute Resolution Seminar. Lagos, Nigeria: May 22, 2014

Mr. Remi Olowude, Executive Vice Chairman, Industrial and General Insurance (IGI) in an interview with the Guardian; Thursday, December 13, (2007). p. 45

The Nigerian Council of Registered Insurance Brokers (NCRIB) via its President, Chief Dede Ijere, while lauding the actions taken by the National Insurance Commission (NAICOM) on Recapitalization process at the December edition of NCRIB members evening in Lagos. The Guardian, Thursday, December 13, (2002). p 45.

MD/CEO Equity Assurance Plc an the Chairman, Nigerian Insurance Association (NIA) in an interview with the Guardian op. cit. at p. 44.

       LIST OF ABBREVIATIONS

A.C.                 Appeal Cases

All Com          All Commercial

ATK                Atkyn’s Reports, Chancery

Burr                 Burrow

C.P                  Common Plea

Cap                 Chapter

Ch. D              Chancery Division

Co.                  Company

E.R                  England Reports

F.N.L.R           Federal Nigeria Law Reports

Ins.                  Insurance

K. B                King’s Bench

L.J                    Live Journal

L.L.R               Lagos High Court Reports

L.R                   Law Reports

Lloyd’s Rep     Lloyd’s List Law Reports

LT                   Learn the truth

Ltd                  Limited

MLR               Modern Law Report

N.M.L.R         Nigeria Monthly Law Report

NCRIB           Nigeria Council of  Registered Insurance Brokers

NWLR            NWLR Nigerian Weekly Law Report

Par                   Paragraph

Q.B.D             Queen’s Bench Division

QB                  Queen’s Bench

UCC                Uniform commercial code

W.R.NL.R      Western Nigeria Law Report

                                                CHAPTER ONE                              

NATURE AND DEFINITION OF INSURANCE

1.0            INTRODUCTION

Risk and uncertainty are incidental to life. Man may meet untimely death. He may suffer from accident, destruction of property, fire, floods, earthquakes and other natural calamities. Whenever there is uncertainty, there is risk as well as insecurity. People always want to avoid the financial consequences of these risks e.g replacing personal property that is lost or damaged. Insurance exists because risk exists. Insurance cannot remove the risk or the likelihood that one might become a victim of risks, but it ensures the transfer of all or some of the financial impact.

Insurance is a contract between two parties (insurance company (A) and the insured or policyholder (B) in which the risk is transferred to the insurance company in exchange for the payment (in advance) of a token called Premium with the insurance company agreeing to make good the loss to the policy holder whenever he suffers any loss. 1

Social and economic changes open up new areas in which insurers are called upon to provide insurance coverage. Apart from natural risks to life, the risks to life from coups, kidnapping and political assassinations have become

 

Keywords: A CRITICAL ANALYSIS OF THE REQUIREMENTS OF INSURABLE INTEREST UNDER THE NIGERIA LAW OF INSURANCE

 


DO YOU WANT TO ORDER FOR THE COMPLETE PROJECT MATERIAL? Then click here

GET COMPLETE PROJECT

Have you made payment for this project? If YES, contact our Customer Care.

For further enquiries, call our Hotlines ☎: 08139342394 or 08152487601


PROJECT TOPICS AND MATERIALS | HIRE A WRITER | HOW TO PAY FOR PROJECT

 

Keywords: A CRITICAL ANALYSIS OF THE REQUIREMENTS OF INSURABLE INTEREST UNDER THE NIGERIA LAW OF INSURANCE

 


DISCLAIMER: hiWriters.com.ng focus on attracting students and researchers to materials that can be used as guide, framework, and reference for their project work. All contents/materials on this website are for research purposes only and for no reason should you copy verbatim. This platform is not encouraging any form of plagiarism, neither are we advocating the use of the project materials for cheating. We strictly recommend that research project topics and materials ordered for should serve as a guide or framework only. The contents therein should be used to generate fresh ideas for your own research. Finally, hiWriters.com.ng will not be liable for any material used inappropriately.