Why may an insurer insert a continuing warranty into an insurance policy?

• A.To ensure that underinsurance is avoided at all times.
• B.To enable an insurer to charge an additional premium if the warranty is continually breached.
• C.To maintain the annual aggregate limit of liability throughout the policy period.
• D.To encourage good risk management by the insured throughout the policy period.

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In respect of a life assurance policy, the duty to take reasonable care NOT to make a misrepresentation ends when the proposer

• A.assigns the contract to a third party.
• B.forms the contract with the insurer.
• C.signs and submits the completed proposal form to the insurer.
• D.dies and his estate submits a claim to the insurer.

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For this question more than 1 option is correct. You must select all the correct options to gain the mark. Which special defences are available to the fort of libel?

• A.Necessity.
• B.Statutory authority.
• C.Prescription.
• D.Privilege.
• E.Honest opinion.

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For this question more than 1 option is correct. You must select all the correct options to gain the mark. How may double insurance arise?

• A.A merger between two major insurance companies.
• B.An overlap in cover between two different types of insurance policy.
• C.The inadvertent non-cancellation of a policy when a new policy is taken out.
• D.A deliberate attempt to obtain the proceeds of two policies.

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At what stage is insurable interest required for a marine cargo insurance policy?

• A.At both inception of the policy and at the time of the loss.
• B.Throughout the duration of the contract.
• C.At the time of the loss only.
• D.At inception of the policy only.

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