Law Review

April'19


The IUP Law Review

ISSN: 2231-3095

A 'peer reviewed' journal indexed on Cabell's Directory, and also distributed by EBSCO and Proquest Database

It is a quarterly journal focusing on various aspects of law and legal principles/issues relating to Cyber Law, Patent Rights, Copyrights, Insurance Contracts, Risk and Insurance, Banking Regulations (including Cooperative Banks/Rural Banks), Consumer Grievances, E-commerce/Internet Banking, Environmental Pollution, Public Policy, International Agreements and Treaties, Capital Markets, Mutual Funds, Secondary Markets, Medico-Legal, Socio-Legal, Arbitrations and Settlements.

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Article   Price (₹) Buy
Acts of Intervention: How Contracts of Liability Insurance Are Regulated to Protect Third Party Claimants in Australian Law
50
Insurance Product Designing: An Analysis of Regulatory Guidelines
50
Revolutionary Inroads into the Insolvency and Bankruptcy Law in India
50
Detecting and Preventing Click Fraud: The Economic and Legal Aspects
50
     
Contents : (April 2019)

Acts of Intervention: How Contracts of Liability Insurance Are Regulated to Protect Third Party Claimants in Australian Law
John Woodward

Uninhibited freedom to contract without undue statutory interference is a hallmark of western jurisprudential tradition. Policies of consumer protectionism and public interest sometimes operate to impose statutory intervention where unrestrained contractual freedom would produce injustice or is against the public interest in preventing fraudulent conduct or unfair practices. This paper examines some of the statutory interventions which have been enacted in Australian law to prohibit insurers from excluding benefits to third party claimants where the insured party has come under insolvent administration, has otherwise ceased to exist or has no interest in seeking indemnity under its contract of liability insurance. It argues that, whilst the general policy is clear, the intention of the legislation has become obscured by excessive deference to procedural imperatives that have subverted the initial policy objectives and the substantive law of subrogation. The effect of current statutory law in Australia raises questions in relation to rights of subrogation in cases where insurers have been joined as unwilling parties to liability claims against their insured. This paper concludes that legislators should consider reform of the present legislation to improve certainty for liability insurance underwriters and for their insured.


© 2018 IUP. All Rights Reserved.

Article Price : ? 50

Insurance Product Designing: An Analysis of Regulatory Guidelines
Veena

The concept of insurance has been prevalent in India since ancient times and has a great social significance. Insurance contributes to the economic growth of a nation, and it has evolved as a process to safeguard the interests of people from loss and uncertainty, and plays a major role in reducing the risk of loss of life and property. In today?s competitive market the insurance companies design and market various insurance products to cater to the changing needs of people, business and industry. In the process, they have to design insurance products which have market viability and also capture the attention of the people, where security is the prime motivating factor. While insurance companies design and price the product, IRDA, a regulatory body regulates the same. Without IRDA?s prior approval, no new policies could be launched or priced by the insurance companies. Marketing of insurance products is more complex in the present scenario, and products are regulated by a three-tier model?designing, pricing and marketing. The present paper deals with these phases along with the latest IRDA regulations pertaining to the insurance products and pricing. It further discusses the enormous efforts and challenges faced by insurance companies in planning and designing insurance products in the country and the major role played by IRDA in protecting the interests of the insurance policy holders.


© 2018 IUP. All Rights Reserved.

Article Price : ? 50

Revolutionary Inroads into the Insolvency and Bankruptcy Law in India
Dayananda Murthy C P

The insolvency laws enable lenders to petition for liquidation. The debtor?s failure in managing business makes recovery a daunting task. Companies may fail to recover from their financial distress. The defaults by companies result in the accumulation of Non-Performing Assets (NPAs) with banks. The insolvency laws, across the globe, offer a process of a ?fresh start? or ?encourage business rescue?, in a ?time-bound? manner. If and only if the resolution process fails, the question of liquidation arises. The financial environment led to the adoption of the Insolvency and Bankruptcy Code, 2016 (IBC), which has provided impetus to the stakeholders. Under IBC regime, players are expected to adopt a new game plan. The participatory role of the ?Committee of Creditors? is significant. This paper analyzes the impact of IBC in a ?defaulter?s paradise? situation and how far the implementation of this code would help in making India an efficient economy.


© 2018 IUP. All Rights Reserved.

Article Price : ? 50

Detecting and Preventing Click Fraud: The Economic and Legal Aspects
C P Nandini

The recent development and growth of technology has forced the augmentation of e-commerce. This growth has encouraged the online businesses enormously, and one such business is online advertisements. The online businesses have built up various advertising models to increase their revenues. One such preferred model is the Pay-Per-Click model, considered to be one of the most efficient and effective models. The success of this model has also made it susceptible to click frauds, one of the underestimated frauds in the e-commerce-related frauds. The click spammers are active in committing such frauds either for commission, or it is used as a tool by the businesses to throw away the competitors from the business by artificially increasing the prices for advertising. The click fraud losses are estimated to be hundreds of billions of dollars, affecting the advertising industry in a huge way. Approximately, click frauds account for 10-40% of losses in the annual revenue loss to the industry. This paper examines the economic and legal aspects of the click fraud with special reference to the lacuna in law making to deal with the problem. It also highlights the challenges in regulating such frauds and the lack of seriousness on the part of the industry as well as the law makers.


© 2018 IUP. All Rights Reserved.

Article Price : ? 50

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