Given its economic importance, insurance is a field that has been underserved as an area of academic study. This detailed book provides much needed coverage of insurance law and regulation in its international context.
Produced in association with Lloyd's, it draws on the expertise both of academics and practising lawyers. Containing 30 comprehensive chapters, it provides in-depth studies on key areas, such as the role of international organisations, the judicial interpretation of insurance contract clauses and transnational regulatory recognition. It also provides thorough introductions to important jurisdictions, including the EU, US and Japan as well as focusing on newly emerging economies such as China and Brazil. Specialist topics covered include regulation by and of Lloyd's, the tort of bad faith in the US, microinsurance and takaful insurance.
This well-documented resource will appeal to academics and students in insurance law and regulation, policymakers and private practice lawyers. The book also aims to stretch the imagination of anyone with an interest in insurance law and regulation, providing detailed analysis and avenues for further investigation.
Edited by Julian Burling, Barrister, Serle Court Chambers, Lincoln's Inn (formerly Counsel to Lloyd's) and Kevin Lazarus, Solicitor, Lloyd's, UK
Contents: Lloyd's Foreword Richard Ward Introduction Julian Burling and Kevin Lazarus PART I: INSURANCE CONTRACT LAW 1. An Introduction to Insurance Contract Law Malcolm Clarke 2. Methodology: Applying Economics to Insurance Law - An Introduction Lloyd R. Cohen and Michelle E. Boardman 3. Definition: Different Common Law and Civil Law Approaches to the Definition of Insurance Kyriaki Noussia 4. Pre-contractual Information Duties: The Insured's Pre-Contractual Duty of Disclosure - Convergence Across the Jurisdictional Divide John Lowry 5. Contract Terms: Judicial Approaches to the Interpretation of Insurance Contracts Oliver Brand 6. Claims: An Overview of the US Tort of `Bad Faith' - A Common Law Approach to Regulating Insurer Claims Handling and Settlements Suzanne Midlige, Robert Re and William Hoffman 7. Reinsurance: Finding the Balance between Reinsurers' and Reinsureds' interests Rob Merkin and Michael Mendelowitz 8. Closing Books of Business: The Challenge of Fairness and Finality David Whear and Bob Haken 9. Choice of Law: New York and English Approaches to Insurance and Reinsurance Contracts Raymond Cox QC PART II: INSURANCE REGULATION 10. An Introduction to Insurance Regulation Peter Kochenburger and Patrick Salve 11. History: A History of Insurance Regulation in the UK Robin Ford 12. International Organisations: Their Role and Interconnectivity in Insurance Regulation Louise Steinberg 13. Transnational Supervisory Recognition: A Macro-jurisdictional Overview Hermann Geiger 14. Principles-based Insurance Regulation: Lessons to be Learned from a Comparison of the EU and German Law of Risk Management Petra Pohlmann 15. Conduct of Business Regulation: A Survey of the UK Regime and a Comparison with the US, German and Hong Kong Approach James Smethurst, Wessel Heukamp, Jonathan Goodliffe and Royce Miller 16. Enforcement: A Survey of Three Approaches to Insurance Regulatory Enforcement: The USA, the UK and Sweden Aviva Abramovsky, Ian Mason, Robert Tischner and Stefan Bessman 17. Lloyd's: Its Authorisation in the United Kingdom and Overseas Julian Burling 18. Lloyd's: The Development of Performance Management Kevin Lazarus PART III: DEVELOPING AREAS OF INSURANCE LAW AND REGULATION 19. Microinsurance: The Value Proposition at the Base of the Pyramid Arup Chatterjee 20. Takaful Insurance: Squaring the Insurance Circle in Islamic Law Mark Hoyle 21. Alternative Risk Transfer: Risk Transfer Solutions at the Margins of Insurability - The Legal and Regulatory Challenges Patrick Salve and Douglas Simpson 22. E-Commerce: The Regulation of Insurance in the Age of the Internet Anne Flanagan PART IV: REGIONAL STUDIES IN INSURANCE LAW AND REGULATION 23. Europe: Towards a Harmonised European Insurance Contract Law - The PEICL Helmut Heiss, Malcolm Clarke and Mandeep Lakhan 24. Europe: The Architecture and Content of EU Insurance Regulation Robert Purves 25. USA: A Regulatory Overview of the World's Largest Insurance Market John Mulhern, Parimah Hassouri and Daren Moreira 26. Singapore: Maintaining a Law and Regulation for a Modern Trading State Hwee-Ying Yeo 27. Brazil: The Transition of Law and Regulation from State Control to Market Freedom Ilan Goldberg 28. China: Developments in Insurance Law and Regulation in the People's Republic Wenhao Han 29. Japan: The Insurance Concept in the Insurance Act and the Insurance Business Act Seiichi Ochiai, Shinichi Takahashi and Ryoko Takeda 30. South Africa: Insurance Law and Regulation in the Rainbow Nation Birgit Kuschke Index