Whether we are advising on insurance policies or reinsurance coverage, defending claims, seeking recoveries, or dealing with complex regulatory issues, the unmatched depth of knowledge and breadth of experience within our insurance and reinsurance team ensure that our clients enjoy a service of the best quality. very high quality. quite simply, no law firm in singapore understands the insurance industry better.
led by attorneys with over 20 years of industry experience who are consistently recognized by established publications as leaders in insurance and services. reinsurance law in singapore, this team of specialists provides a full range of legal services, including:
- advice and drafting of insurance and reinsurance policies, treaties, brokerage agreements and distribution agreements
- claims and recoveries before national courts and arbitration tribunals
- corporate (acquisition or sale of insurance and reinsurance businesses, as well as portfolio transfers)
- regulatory and licensing aspects in relation to the life and general insurance business.
- acting on behalf of insurers in the landmark high court and appellate court decisions in stork technology services asia private limited v first capital insurance limited on the application of the condition precedent notice rule under the singapore insurance law.
- proceeding for a contractor’s all risk insurer against his contractor insured for a tilted skyscraper development in singapore’s central business district, where the claim was in excess of S$66 million.
- acting on behalf of korean insurers in their claim against lloyd’s syndicate reinsurer under an open compulsory reinsurance contract in the only reported decision in singapore courts on reinsurance law.
- representing msig insurance (singapore) pte ltd in defending a claim for property damage and business interruption of more than 10 million singaporean dollars in which the singapore court was asked, for the first time, that interpret the phrase “unforeseen and sudden” in an insurance clause of an all-risk policy.
- the acquisition of rsa’s P&C business by allied world insurance co and the required court-approved portfolio transfer.
- the acquisition of hsbc’s general insurance, employee benefits and group term life portfolios by axa/axa life and the required court-approved transfers.
- the first redomiciliation of a foreign company in singapore, renamed swiss re asia pte ltd, from zürich, switzerland and the subsequent portfolio transfer of the reinsurance business of the swiss re singapore branch.
- the first insurance-linked securities transaction in singapore with the successful issuance of the iag re-sponsored A$75 million catastrophe bond in December 2018.
- advice on the single structure for Asia’s first regional disaster risk insurance facility known as the Southeast Asia Disaster Risk Insurance Facility (seadrif).
state of the art advice and cost-effective solutions
Our clients rely on our deep understanding of the insurance industry for cutting-edge advice, cost-effective and creative solutions that require a good command of the law and regulations.
Reading: Attorneys who handle insurance claims
The team is able to draw on the expertise of other practice areas within our full-service law firm and leverage this advantage to create real value for our clients in our offering of complete legal solutions when faced with a problem that arises. relates to other areas of law such as labor, tax, bankruptcy, maritime, international trade, financial services, energy and construction, to name a few.
On the claims and recovery front, our attorneys’ involvement in nearly every high-profile dispute and landmark case provides reassuring proof of our position as leading specialists in insurance and reinsurance law.
deep knowledge, regional reach
Above all, the strength of this practice is based on our first-hand knowledge of the insurance industry and the exceptional talent and commitment of a team dedicated to this specialized area of law.
In addition to appearing in Singapore courts, our attorneys regularly participate in insurance arbitrations and before other courts in Asia, including Hong Kong, Malaysia and Indonesia.
within this practice
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insurance claims and recoveries
Time and time again, our in-depth knowledge of the insurance industry has given our clients the edge in handling insurance claims.
Our attorneys are frequently called upon to advise and are regularly involved in complex and difficult front-page claims, issues and policy issues.
The team has earned a well-deserved reputation for its work in property and casualty insurance, as well as specialized risks and financial lines.
therefore, if it is a multifaceted issue that extends beyond coverage issues to third-party claimants’ allegations in relation to liability policies, to analysis of the causes of economic loss in under business interruption insurance, complex technical engineering and construction jargon related to contractor/comprehensive erection, or the urgency of recalling products under product liability insurance until the anxiety policyholders face in a professional compensation claim, we have encountered this and much more in the course of our team’s experience.
In the full range of work we handle, from advising foreign reinsurers on reinsurance treaties entered into with local cedants, through the interpretation of difficult policy wordings, to the defense or presentation of claims, the immense experience of our lawyers allows us to provide cutting-edge advice and practical business solutions. above all, that marks us as a leader in the industry.
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Notable cases include:
corporate and regulatory
Well versed in the local legal and regulatory regime where familiarity with the prevailing policies of the regulator is essential, and well connected with bodies and regulators across the industry, we are in a strong position to provide a broad spectrum of services. in business and insurance regulatory matters.
Our experience covers a wide range of issues and transactions, including advice on the creation and registration of insurance and insurance brokerage businesses, the drafting of commercial schemes for insurance transfers and novations, advice on compliance matters regulations, the drafting of policy wordings, advice on new and innovative insurance products, as well as advice on new models of distribution of insurance products.
examples of our work in this area include:
The team has advised and acted for reinsurers in coverage disputes with cedants in arbitrations in the region, including Malaysia and Indonesia.
we have advised reinsurers and retrocessionaires on contested issues under the reinsurance and retrocession programs due to the 2011 floods in thailand, as well as the 2010 riots in bangkok, thailand, in relation to business interruption and property losses. we have also advised on the introduction of new insurance products in the singapore market through facultative reinsurance and the optimal business model for foreign reinsurers to transact business with singapore based on their business needs and business objective to achieve a business model of business that is optimal from both a legal and commercial perspective.
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