The insurance industry enables economic risks to be transferred to the insurer in return for a premium payment. This possibility is a prerequisite for most of the rules of liability and damages law. The economic importance of insurance law is shown by the volume of existing insurance relationships (approximately 430 million Euro).
Private insurance law, which the focus area of insurance law at the University of Mannheim deals with, rests on four cornerstones:
Private insurance law needs to be distinguished from social security law. Social insurance law regulates insurance relationships existing by law between insured persons and social insurance institutions (e.g. statutory health insurance funds). These are not part of the curriculum. Private insurance law is a particularly versatile core area of commercial law. Not only does it develop constant interactions with general private law and other sub-areas of commercial law, but it also has strong interdisciplinary references to insurance management theory and actuarial mathematics. The University of Mannheim addresses these issues at the Institute of Insurance.
The lecture, which is held in German, deals with insurance contract law containing the provisions of the law of obligations for insurance contracts. It also covers the law of insurance mediation. The central source of law is the Insurance Contract Act (VVG). The VVG of 1908 has been fundamentally reformed for the first time by the Act on the Reform of Insurance Contract Law, which came into force on 1st January 2008. The lecture focuses on the general part of insurance contract law and the references to civil law. Using selected examples from the areas of health, life and damage insurance, typical problem areas of special insurance contract law will also be examined
The lecture “Private Insurance Law II” is dedicated to the other three cornerstones of private insurance law, insurance supervisory law, insurance business law and international/
Seminars on current topics of private insurance law complement the curriculum and provide the opportunity to deepen the lecture content. In the seminars, interested students are regularly given the opportunity to gain insights into the practice of an insurance lawyer, in an insurance company, with the insurance supervisory authority and in court.