Insurance Act 2015 in the UK and Lessons for Singapore

25 Pages Posted: 7 Mar 2017

See all articles by Christopher C. Chen

Christopher C. Chen

Singapore Management University School of Law

Date Written: May 6, 2016

Abstract

This article outlines the key changes introduced in the UK Insurance Act 2015 and discusses their potential implications for insurers and the insurance market in Singapore. We recognise that the 2015 Act should help to create a fairer playing field between insurers and the insured. However, new UK law may also affect the pool of English case law available for the interpretation of the Marine Insurance Act in the future. We suggest that it is sensible to distinguish between consumer and business insurance. The former should cater for the local customers, whereas the latter is important for Singapore’s ambition to be a global insurance hub and a dispute resolution centre.

Keywords: insurance contract law, Singapore law, duty of disclosure, utmost good faith, warranty, Insurance Act 2015

Suggested Citation

Chen, Christopher C., Insurance Act 2015 in the UK and Lessons for Singapore (May 6, 2016). Available at SSRN: https://ssrn.com/abstract=2928418 or http://dx.doi.org/10.2139/ssrn.2928418

Christopher C. Chen (Contact Author)

Singapore Management University School of Law ( email )

55 Armenian Street
Singapore, 179943
Singapore

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