IRM 404: Insurance Law

 

Course Purpose

The purpose of this course is to provide students with a comprehensive understanding of the legal and regulatory framework governing the insurance industry in Kenya, with a comparative analysis of key international insurance laws and regulations.

 

 

Course Learning Outcomes

CLO 1: Understand the fundamental principles of insurance law and regulations in Kenya and internationally.

CLO 2: Analyze and interpret insurance contracts and policies within the legal framework.

CLO 3: Apply the knowledge of insurance law in real-world scenarios, such as claim disputes and policy interpretations.

CLO 4: Develop an ethical mindset and understand the importance of compliance with insurance laws and regulations.

 

Course Content

Insurance Contract Law (Offer and Acceptance, Insurable Interest, Utmost Good Faith); Insurance Regulations in Kenya (IRA, RBA, AKI); Policy Interpretation (Terms and Conditions, Exclusions, Endorsements); Claim Disputes (Denial of Claims, Dispute Resolution); Reinsurance Law (Types of Reinsurance, Legal Aspects); International Insurance Laws (Solvency II, NAIC Model Laws); Insurance Fraud (Detection, Legal Consequences); Consumer Protection in Insurance (Policyholder Rights, Redress Mechanisms); Health Insurance Law (NHIF, Private Health Insurance); Motor Vehicle Insurance Law (Compulsory Insurance, Claims).