Mondaq Asia Pacific: Insurance
Government changes to the Compulsory Third Party insurance scheme is likely to end up with motorists paying even more.
Companies should implement amendments to contracts and update compliance materials, to comply with the new regime.
The levy could be costly for owners of large commercial and industrial buildings, and for tenants liable for outgoings.
The Australian Stock Exchange Listing Rules 3.1, 3.1A and 3.1B, and Guidance Note 8 concerning continuous disclosure obligations came into effect on 1 May 2013.
The China Insurance Regulatory Commission recently promulgated "the Administrative Measures on Classification of Business Scope of Insurance Companies", which came into force on 2 May 2013.
In accordance with Article 4 of the Administrative Measures on Equity Interest in Insurance Companies, the maximum shareholding of any one shareholder in a domestic insurance company cannot exceed 20%.
The Ministry of Environmental Protection and the China Insurance Regulatory Commission jointly have recently promulgated the Guiding Opinions on Pilot Scheme for Compulsory Environmental Pollution Liability Insurance, which for the first time, requires compulsory purchase of environmental pollution liability insurance by enterprises with high environmental risks.
A recent UK case highlights the need for an insured to promptly notify claims or circumstances when they first discover them.
In a recent decision handed down by the High Court, Yau Tsz Hin v. Broadway Theatre Company Limited, HCPI 674 of 2010, the cinema successfully defended a 'slip and fall' claim lodged by its patron.
The Government has recently completed a three-month public consultation on the legislative proposals for the establishment of the Independent Insurance Authority.
This recent decision highlighted the High Court's role in the transfer of a Hong Kong long term insurance business.
In 2011 the size of the clinical trials business in India was estimated to have grown to c. $1.6 billion.
A new law on insurance is expected to be passed by the House and will replace the 1992 Law.
Cross lease property owners must become familiar with the terms of the lease before settling EQC or insurance claims.
When you own a property in a unit title development, you and your neighbours are covered by the same insurance policy.
Landlords and tenants both have things they need to consider when looking at renting a written off house.
Insurers have different approaches to whether they will allow a house that has been cash settled to be sold in unrepaired.
The case provides clarity on the application of the Act's limitation fund provisions after the Tasman Pioneer decision.
Companies should implement amendments to contracts and update compliance materials, to comply with the new regime.
Government changes to the Compulsory Third Party insurance scheme is likely to end up with motorists paying even more.
The levy could be costly for owners of large commercial and industrial buildings, and for tenants liable for outgoings.
The failure of a party to call a witness does not necessarily give rise to an adverse inference being drawn in accordance with Jones v Dunkel (1959) 101 CLR 298. An unfavourable inference is drawn only if evidence otherwise provides a basis on which that unfavourable inference can be drawn.
The NSW Court of Appeal decision in Makawe Pty Limited v Randwick City Council [2009] NSWCA 412 confirms that in cases of a novel relationship, the duty of care is to be determined according to a ‘salient features’ test. The decision also deals with the question of what constitutes pure economic loss and raises the possibility of a new interpretation of section 44 of the Civil Liability Act 2002 (NSW).
Whereas most insurance policies exclude liability arising under contract, insurers can positively benefit where an insured has limited or excluded its liability under contract. This usually arises where the insured's contract has a limitation or exclusion of liability clause in the insured's favour.
This case was the first decision on the proportionate liability regimes enacted throughout Australia in the early 2000s.
Adeels Palace Pty Limited (Adeels Palace) operated a restaurant and reception business at Punchbowl in New South Wales. The restaurant was open on New Year’s Eve 2002 and was full.
The recent decision of the New South Wales Court of Appeal in Stapley v Towing Masters Pty Ltd (trading as Dynamic Towing) [2009] NSWCA 382, the Court considered what it means to be a ‘common carrier’.
Changes to the NSW CTP scheme would slash the benefits for loss of income, which would stop entirely after 3-5 years.
A number of recent professional negligence cases decided in Queensland demonstrate the willingness of judges to make robust findings on the issue of causation of loss and make findings in favour of defendants even where there has been an obvious breach of the duty of care.
The Australian Stock Exchange Listing Rules 3.1, 3.1A and 3.1B, and Guidance Note 8 concerning continuous disclosure obligations came into effect on 1 May 2013.
there are various statutory mechanisms to pursue the insurers of companies being wound up or deregistered, including s 6 of the NSW Law Reform Miscellaneous Provisions Act (1946) and section 601AG of the Corporations Act 2001.
In the construction industry, contractors are often requested to provide insurance cover for every interested party on the project.
The Government has recently completed a three-month public consultation on the legislative proposals for the establishment of the Independent Insurance Authority.
General insurance companies have put a proposal in front of the Insurance Regulatory Development Authority to bring down fraudulent third party claims and cut losses.
As previously reported, the Indian general insurance market is in the midst of a transition from a tariff based regime to a more market driven system.
When you own a property in a unit title development, you and your neighbours are covered by the same insurance policy.
Cross lease property owners must become familiar with the terms of the lease before settling EQC or insurance claims.
Part 2 of an article on the rise of the Vietnamese insurance industry.
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