Neighbour is driving an uninsured car - advice needed
Discussion
r129sl said:
Hey, pedant's corner is mine. It's risk, surely? Under a contract of insurance, a risk is insured against, non?
Often this is by way of an indemnity against loss (where the damage is suffered by the insured) or liability (where the damage is suffered by a third party but is one in respect of which the insured is liable). But it is still a risk that is insured.
Thus, I could take out a policy of insurance on your life. When you die, the policy pays out not because I am under any liability, but because the insured risk has occurred. Further, a man cannot owe a liability to himself, yet comprehensive policies of insurance usually cover damage and loss to the insured's own property. The risk, not the liability, is insured.
A policy of comprehensive motor insurance is a contract under which the insurer agrees to meet all or part of the insured's own losses and/or his liabilities to a third parties in the event that an insured risk occurs and the other conditions of the policy are met.
The legal requirement of any driver (from memory under s.144 of the RTA 1988) is that there is a contract of insurance in place under which the risk of him causing loss or damage to a third party is insured against.
I'm intrigued by these marine gambling policies: I have never heard of them and will now waste some time learning.
Risk tends to be insured object plus loss type or peril. Wooly concept at the best of times. Most people use risk to mean insured object. Often this is by way of an indemnity against loss (where the damage is suffered by the insured) or liability (where the damage is suffered by a third party but is one in respect of which the insured is liable). But it is still a risk that is insured.
Thus, I could take out a policy of insurance on your life. When you die, the policy pays out not because I am under any liability, but because the insured risk has occurred. Further, a man cannot owe a liability to himself, yet comprehensive policies of insurance usually cover damage and loss to the insured's own property. The risk, not the liability, is insured.
A policy of comprehensive motor insurance is a contract under which the insurer agrees to meet all or part of the insured's own losses and/or his liabilities to a third parties in the event that an insured risk occurs and the other conditions of the policy are met.
The legal requirement of any driver (from memory under s.144 of the RTA 1988) is that there is a contract of insurance in place under which the risk of him causing loss or damage to a third party is insured against.
I'm intrigued by these marine gambling policies: I have never heard of them and will now waste some time learning.
My point was that the loss type is not the tp damage, it is that you become liable for the damage. Again, not that you *caused* it. You may well have done so. But equally, you could be the other side of the world and still be liable. The insured object isn't every other car in the EU, it is effectively your Bank balance !
It is s.145 that defines what the insurance needs to cover, but you are right s144 covers the "you must not" bit.
(a)must insure such person, persons or classes of persons as may be specified in the policy in respect of any liability which may be incurred by him or them in respect of the death of or bodily injury to any person or damage to property caused by, or arising out of, the use of the vehicle on a road [F26or other public place] in Great Britain, and....
Prior to 2005, it is likely that you taking out a life policy on my life would be void. No insurable interest. That is probably now not true. But under the indemnity principle, you would get no money as you suffered no loss. Moot point, a life cover isn't liability insurance.
Gambling policies were apparently quite common in shipping. Effectively wagering on a ship being lost at sea. Similar gambles on life policies too. The former are still illegal. The latter just won't pay due to common law.
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