Singapore law comprises primarily statutory law as well as common law. The primary legislation governing the provision of insurance and reinsurance business is the Insurance Act (Cap 142) (the Insurance Act).
Insurance and reinsurance are perceived by the outsider as traditional, not very exciting legal areas.
With over fifty insurers today, aggregate premiums of approximately $82.8bn in the financial year 2019, and insurance penetration levels in 2018 of 3.70% (compared to a global average of 6.09%), India is an exciting insurance market, offering growth opportunities for international investors. However, foreign direct investment (FDI) caps and other regulatory issues have meant that …
Continue reading “Key considerations for foreign investors in the Indian insurance market”
In retrospect, the year 2019 will likely be seen as a turning point in the combat of climate change. With Friday for Future as pace maker, for the first time in history, there is a globally-aligned political movement including countries on every continent urging for immediate and robust action against climate change. Pressure on legislators …
Cyber risks – intensified by the expansion of home working due to the Covid-19 pandemic countermeasures – are one of the most serious worldwide threats nowadays. That doesn’t mean the risks themselves are new, but the sophistication and range of modern cyber attacks foretell a dire future. According to Cybersecurity Ventures, the cost of cyber …
Continue reading “Cyber insurance and the silent revolution in Brazil”
I am writing this from my home office, the world having been turned somewhat upside down in the last few weeks. I was expecting to be writing about warranty and indemnity (W&I) insurance trends and claims in 2020, but the form book has been very much disrupted, at least in the short term. I have …
Continue reading “Why does a GC need to know about warranty and indemnity insurance?”
In the build-up to the GDPR coming into effect in 2018, the legal consequences of privacy and cyber security risk were dominated by the headline issue of regulatory fines, and the need to avoid them. The reality is somewhat different. Of course, there have been some groundbreaking fines but they remain rare; the Information Commissioner’s …
Continue reading “Data subject rights: the real legal risk of privacy and cybersecurity”
With COVID-19 leading to many people working remotely, organisations need to think about how documents and contracts can be signed and concluded. While some projects will slow or stall, many routine contracts will be up for renewal in the next few months, and other transactions will be due to complete. The logistics of signing in …
Mark Smith, founder and CEO of Purdy Smith, discusses some of the brand management issues in-house lawyers should keep an eye on in the upcoming decade, with a focus on the headline-grabbing areas of advertising and consumer law.
Alexander Oddy, Greig Anderson, Paul Lewis and Tom Hutchinson of Herbert Smith Freehills review the major insurance issues facing in-house lawyers in the current market.