Can the insurance industry improve its claim function and if so, how? These were the questions raised at what, in this author’s humble opinion, was the most incisive insurance market summit arranged in Singapore for years. Why was that summit so insightful? Because it brought leading insurers and their service providers, loss adjusters and defence law firms, together and, in putting claims front and centre, asked how the industry could improve.
Articles
AI Hallucinations: Old Professional Risks Wearing Modern Clothes
The trend of lawyers getting caught out by AI hallucinations continues to unfold with the predictability of an old slapstick silent film. You can see the disaster happening in a way that the main characters seemingly cannot.
Things Amongst Other Things…
This article outlines the purpose of and some initial questions relating to the Act and potential implications for commercial insurance products.
INSURANCE BROKERS IN THE FIRING LINE: ACTION AVAILABLE IN NEGLIGENCE FOR “LOSS OF A CHANCE”: NORMAN HAY PLC v MARSH Ltd
It is common practice for insurers to negotiate the settlement of significant claims by adopting a three-pronged strategy: (i) denying any liability to indemnify; (ii) contesting the amount of the indemnity (if they are liable to indemnify); and (iii) notwithstanding (i) and (ii), offering a settlement amount in recognition of the costs and risks of litigating the claim if not settled.
CONSTRUCTION ALL RISKS INSURANCE: COVER FOR DAMAGE THAT STARTS DURING AND DEVELOPS OR DETERIORATES AFTER THE PERIOD OF INSURANCE SKY UK LIMITED & ANOTHER v. RIVERSTONE MANAGING AGENCY LIMITED & OTHERS [2024] EWCA CIV 1567
Last year, our firm ran a series of articles and webinars concerning legal developments as to the construction and application of the London Engineering Group (“LEG”) extensions found in Construction All Risks (“CAR”) insurance policies.
A GUIDE TO MEDIATION: PRACTICAL ADVICE TO ACHIEVE SETTLEMENT
Mediation is an essential dispute resolution tool. Over the past ten years, more than 430 cases with a combined value of in excess of US$18 billion have been mediated before the Singapore International Mediation Centre (“SIMC”) as the Courts encourage parties to find a negotiated resolution to disputes which may otherwise incur millions in legal fees and weeks in trial.
My Most Sincerest Thanks for a Life Beyond Dreams
On 2nd September 1992, I was given the greatest gift of my life, to become a trainee solicitor. Two years later, on 2nd September 1994, I was given an even greater privilege, to be admitted as a solicitor of the Supreme Court of England and Wales. That privilege was repeated almost 20 years subsequently when I was admitted as a Solicitor and Advocate of the Supreme Court of Singapore.
The Insurer’s Friend And The Sharpest Tool In The Shed: The Offer To Settle Aka The Calderbank Offer
Two of the most commonly asked questions in the claims department of any insurance company are: “How do we defend inflated claims?” and at the same time “How do we reduce legal spend on defence costs?” Claims do, of course, drive the insurance industry, because without claims there would be no need for insurance. And inflated claims, whether innocent or otherwise, are part and parcel of that industry. As indeed are aggressive plaintiff lawyers and sometimes equally aggressive panel defence lawyers, all with billable targets to achieve.
The Singapore Court considers an insurer’s implied duty to pay within a reasonable period – Section 13A of the UK Insurance Act 2015
Singapore’s first case on Section 13A Insurance Act.
The Judgment: South Capitol Bridgebuilders v Lexington Insurance Group 21-cv-1436
In the article, we explain why this could be the most important judicial decision for the London insurance market in over 25 years.
