On 10 September 2014, the Court of Final Appeal in Hong Kong handed down its judgment in Hua Tyan Development Ltd v Zurich Insurance Co. Ltd and Another (The “Ho Feng 7″) [2014] HKCFA 72. The full text of the case can be accessed via the following link: http://www.hklii.hk/cgi-bin/sinodisp/eng/hk/cases/hkcfa/2014/72.html?stem=&synonyms=&query=Hua%20Tyan%20Development In summary, the Court of Final […]
On 16 October 2-14, the Court of Appeal in the United Kingdom has handed down its judgment in Versloot Dredging BV; SO DC Merwestone BV v HDI Gerling Industrie Versicherung AG and the others (The “DC Merwestone”) [2014] EWCA Civ. 1349. The full text of the judgment can be accessed here. In summary, the Court […]
The English and The Scottish Law Commissions have published its report on ‘Insurance Contract Law: Business Disclosure; Warranties; Insurers’ remedies for Fraudulent Claims; and Late Payment’. The full report can be found athttp://lawcommission.justice.gov.uk/docs/lc353_insurance-contract-law.pdf The report contained the draft ‘Insurance Bill’ which is now in the House of Lords. The draft ‘Insurance Bill’ can be found […]
Peter Gregoire General Counsel, AIG Insurance Hong Kong Limited The new Hong Kong Companies Ordinance (CAP. 622) (“New Ordinance”) which came into force on 3rd March 2014, seeks to provide a modernized legal framework for Hong Kong companies. The objectives of the New Ordinance are to enhance corporate governance, ensure better regulation, facilitate business and […]
Hong Kong’s Insurance Companies (Amendment) Bill 2014 was gazetted on Friday 25 April 2014 and presented to the Legislative Council (LegCo) for a first reading on 30 April 2014. The Legislative Council Brief and Bill are available from the LegCo website at: Brief and Bill. This new legislation, which follows several years of consultation and […]
Introduction In Hua Tyan Development Limited v Zurich Insurance Company Limited [2012] HKCU 1632 the Court of First Instance decided in favour of the insured in respect of the duty of disclosure under an insurance policy. More than a year later, the Court of Appeal handed down a judgment [2013] HKCU 1858 that overturned the […]
The recent decision of Mr Justice Popplewell in Versloot Dredging BV v. HDI Gerling and others (The DC Merwestone) [2013] EWHC 1666 (Comm)) in the Commercial Court is of considerable significance to marine insurers and non-marine insurers alike, since it involves a detailed examination and hostile critique of the development and application of the concept […]