|Book||Insurance The Laws of Australia||18/11/2009||9780455226392||$78.40|
Insurance – The Laws of Australia provides insurance practitioners, insurance companies and students with a principles-based, practical guide to insurance law in Australia.
This text provides comprehensive coverage and analysis of common law principles relating to, and the statutory regulation of, insurance contracts and the operation of an insurance business. The common law and statutory provisions are dealt with in the context of marine, life and general insurance.
Insurance – The Laws of Australia provides practical, easy to read and insightful commentary into topics which include:
• Nature and classification of insurance contracts
• Regulatory system
• Insurable interests
• Insurance policies
• Insurance claims
• Indemnity and amounts recoverable
• Double insurance and contribution
This material is also published as part of Title 22 “Insurance and Income Security” of The Laws of Australia legal encyclopaedia.
For more information on The Laws of Australia, including the complete range of books and forthcoming updates, please visit www.thomsonreuters.com.au/tla
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From: (2010) 38 ABLR 207
Reviewed by Peter W Lithgow
A chapter is devoted to “Utmost good faith”, the concept that the insurer and the insured must act in “utmost good faith” towards each other. This has been said to mean:
fairness, fair conduct, reasonable standards of fair dealing, decency, reasonableness, decent behaviour, a common ethical sense, a spirit of solidarity, community standards of fairness, decency and reasonableness.1
The application of this concept may come as a revelation to some insurers and their lawyers who seem to think that taking every dubious point and attributing the worst of motives to an insured is both the standard and appropriate position from which to assess an insured’s claim and the operation of the Policy of Insurance.
Additional chapters deal with questions such as subrogation, and double insurance and contribution. Speciﬁc types of insurance are also dealt with and there are discrete chapters devoted to marine and life insurance.
The usefulness of the text is enhanced by the comprehensive index, the bibliography which provides an extensive reference to books, articles and reports and ﬁnally a “dictionary” of “insurance law” words and phrases cross referenced to speciﬁc parts of the text.
This work is to be commended to all those involved in the law of insurance, particularly lawyers, insurers, agents and brokers and others who need ability to access and understand the law of insurance in Australia.
1 Lucke HK, “Good Faith in Contractual Performance” in Finn PD (ed) Essays on Contract (Lawbook Co, 1987).