766 – Motor Insurance with reference to Irish law and practice – 2005
Syllabus
Objectives: to provide knowledge and understanding of the principles and practices of
motor insurance, with reference to applicable legal and regulatory considerations, and the
ability to apply them appropriately.
Knowledge ratings:
Each sub-topic has been designated a numerical knowledge rating as follows:
1 General background awareness necessary.
2 Requires a knowledge of the major elements of procedures or concepts and their uses.
3 Requires the ability to evaluate concepts, issues, policies and procedures, together with
an understanding of associated aspects of these items and their application to various
situations.
Method of assessment: A 3-hour examination that involves 8 compulsory short-answer
questions carrying 6 marks each; 1 compulsory essay-style question carrying 50 marks;
and a choice of 3 from 5 essay-style questions each carrying 34 marks.
Notes:
– The syllabus will be based on Irish law and practice.
– The April session will test the legal position as of 31st August of the preceding year.
– The October session will test the legal position as of 28th February of the same year.
History and development
The key stages in the development of motor insurance in Ireland with regard to
• Advances in motor vehicle types and technology
1
• Legislative developments
2
• The implications of E U law
2
• Developments in market practice
2
The market place - operation, regulation and influences
Structure of the motor insurance market
Market cycles
Market segmentation
Methods of distributing motor insurance
The role of technology and e-commerce
Protections for the consumer of motor insurance
• Government role
• Insurance Ombudsman scheme
• Motor Insurance Advisory Board
• IIF Code of Practice
The trading performance of the Irish motor insurance market
The motoring environment
The high cost of motor insurance
Road safety issues
The future for motor insurance
2
3
3
3
2
3
1
1
1
2
2
2
3
2
1
Legal considerations
Scope of the Road Traffic Acts 1961-1995
2
Compulsory insurance provisions of parts VI of the Road Traffic Act 1961, relating to third
party liabilities 3
Implementation and effect of EC Motor Directives in Irish motor insurance law and market
practice 3
Role and function of the Motor Insurers' Bureau of Ireland
3
Foreign use and the Green card system
2
The Statutes of Limitation
1
Scope of cover
Core cover provided in respect of third party, fire, theft and accidental damage and legal
expenses as applicable to
• Private cars
3
• Motor cycles
2
• Commercial vehicles
3
• Passenger vehicles
2
• Special types
2
• Motor trade vehicles
2
• Agricultural vehicles
2
and the additional benefits available to each
3
Risk assessment, rating and underwriting
Principles of rating and underwriting individual risks 3
Rating and underwriting considerations specific to:
• Private motor
3
• Commercial motor
3
• Motor fleet
3
• Motor trade
3
• Passenger vehicles including self-drive hire
2
• Special types
2
• Agricultural vehicles
2
Content of and legal requirements relating to the Certificate of Motor Insurance 3
Construction of private and commercial motor policies, with specific reference to:
• common policy warranties and conditions
3
• common exclusions and exceptions
3
• policy schedule
3
Use of no-claims discount
2
Non-standard risks
3
Renewal of cover
Operation of a typical renewal system for private and commercial motor including fleets 2
Renewal documentation and renewal terms specific to motor insurance
2
Claims procedures
Principles of motor claims handling
2
Claims handling procedures
3
Claims notification
2
Own damage claims
3
Third party property damage claims
3
Third party personal injury claims
3
Garda involvement
1
Scope and use of market agreements including MIBI agreement
Constructive total loss and betterment
2
Use of recommended repairers
2
Procedures for dealing with disputes
1
Motor industry claims database sharing
2
Role of Motor engineers
1
Assessment of a claim, valuation of a vehicle
2
3
Ethical considerations
Occurrence and treatment of bad faith claims
2
Duties of insurers and intermediaries to clients
2
Implications of the operation of market agreements for insurers and clients 2
STUDY MATERIALS
Primary text:
Course book
Additional reading:
Reference materials:
"A Casebook of Irish Insurance Law" Michael Corrigan and John A. Campbell. Oak Tree
Press, Dublin 1995
“Insurance Law in Ireland” Austin J. Buckley. Oak Tree Press, Dublin 1997
Road Traffic Law (second edition) Robert Pierse. Butterworth, Dublin 1995
Annual report of the Insurance Ombudsman of Ireland
Annual report of the Department of Enterprise, Trade and Employment, Insurance division
("Blue book")
Irish Insurance Federation annual Factfile
The Road to Safety - a Government Strategy for Road Safety 1998-2002 Department of
the Environment 1998