Insurance

New independent Insurance Authority holds first meeting

The newly established independent Insurance Authority (IIA) held its first meeting last Friday, 29 January 2016. The meeting was attended by its Chairman, Dr Moses Cheng Mo-chi, and six out of the seven other non-executive directors appointed in late 20151. … Continue reading

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Filed under Financial Services Regulation, Hong Kong, Insurance

New guide to the Independent Insurance Authority in Hong Kong launched

Hong Kong is about to establish a unified insurance regulatory regime under the auspices of a new body, to be named the 'Insurance Authority'. The creation and set up of an independent insurance authority is regarded by the Hong Kong … Continue reading

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Filed under Financial Services Regulation, Hong Kong, Insurance, Investigation and compliance

UK Court of Appeal upholds forfeiture of claim due to reliance on fraudulent device

In Versloot Dredging BV v HDI Gerling Industrie Versicherung AG (the DC Merwestone) [2014] EWCA Civ 1349, the English Court of Appeal considered the special common law rule of forfeiture of the claim where a fraudulent device had been relied … Continue reading

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Filed under Insurance

Class Actions 2013/2014 – Developments and Trends

Herbert Smith Freehills has recently published the Class Actions Developments and Trends report 2013/2014. Damian Grave, Ken Adams and Jason Betts provide a review of the past year and consider possible trends for 2014 for Australia, amongst other jurisdictions, while Peter Godwin … Continue reading

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Filed under Class actions, Funding, Hong Kong, Insurance, Japan

UK Court of Appeal confirms the legality of basis clauses

In Genesis Housing Association Limited v Liberty Syndicate Management Limited and others [2013] EWCA Civ 1173 the Court of Appeal upheld the first instance decision of Mr Justice Akenhead and confirmed the legality of basis clauses. A basis clause is … Continue reading

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Filed under Contract, Hong Kong, Insurance

The Hong Kong Government refines its key legislative proposals on the establishment of an Independent Insurance Authority after consultation

On 26 June 2013 the Government published the consultation conclusions on its key legislative proposals for the establishment of an independent Insurance Authority (IIA).  The establishment of the IIA and the provision for a new statutory licensing regime for insurance … Continue reading

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Filed under Hong Kong, Insurance, Investigation and compliance

Credit and political risk insurance in difficult economic times – a health check (Chinese version)

We have been seeing significant interest in political and credit risk insurance in the last few years. This interest comes from both corporates and financial institutions. Our insurance team has recently advised purchasers of political and credit risk insurance products … Continue reading

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Filed under China, Hong Kong, Insurance, South East Asia