For more than 100 years, the Marine Insurance Act 1906 together with the dominance of the Institute Clauses in markets, influenced the development of insurance law in many jurisdictions. In August 2016, the coming into force of the UK Insurance Act 2015 brought significant changes to familiar insurance concepts established by the Marine Insurance Act 1906 and common law, such as the duty of disclosure, breach of warranty, and the remedy for such breaches. Through the UK Enterprise Act 2016, it has also put pressure on insurers to settle claims expeditiously. What is the experience of such reforms from the UK after 2 years? What lessons can be learnt by both insurers and lawyers? In this session, an international panel will discuss the above topics and share their experience and expert views on what other insurance law reforms may be contemplated or are implemented in other jurisdictions.
S. Mohan / Managing Director, Resource Law LLC, Singapore (Moderator)
Robert Bright QC / Barrister, 7KBW, United Kingdom
Frazer Hunt / Partner, Mills Oakley, Australia
Jeremy Joseph / Partner, Joseph & Partners, Malaysia
Norman Hansen Meyer / Partner, Selmer, Norway
S W Park / Partner , Choi & Kim, South Korea