Good Faith in Insurance and Takaful Contracts in Malaysia : A Comparative Perspective / by Haemala Thanasegaran.

Format:

Book

Author/Creator:

Thanasegaran, Haemala, Author.

Language:

English

Subjects (All):

Finance, Public.

Insurance.

Financial Law/Fiscal Law.

Local Subjects:

Financial Law/Fiscal Law.

Insurance.

Physical Description:

1 online resource (251 p.)

Edition:

1st ed. 2016.

Place of Publication:

Singapore : Springer Singapore : Imprint: Springer, 2016.

Language Note:

English

Summary:

This book examines good faith in non-marine insurance and takaful (Islamic insurance) contracts in Malaysia, and proposes holistic law reform of the same. The first two-thirds of the book comprise an extensive comparative legal analysis of the issues between Malaysia, Australia and the United Kingdom, with the final third dedicated to a socio-economic analysis of law reform and suggestions for law reform particularly suited to Malaysia. The book evaluates whether the duty of utmost good faith (the cornerstone of insurance and takaful contracts) is effectively regulated and, in turn, observed by insurers (and takaful operators) and insureds alike in Malaysia. The adequacy of the Insurance Act 1996 (Malaysia), the Takaful Act 1984 (Malaysia), the Financial Services Act 2013 (Malaysia) and the Islamic Financial Services Act 2013 (Malaysia) is evaluated, along with the supporting infrastructure and oversight measures introduced by the Malaysian government. In doing so, The book examines the duty of utmost good faith from both a doctrinal and a social science perspective, in order to propose suitable legal reform.

Contents:

Preface

Foreword

Chapter 1 - Introduction

1.1 Introduction

1.2 Background

1.3 Objective and Scope

1.4 Structure

Chapter 2 - Duty of Utmost Good Faith

2.1 Introduction

2.2 The Meaning of and Juridical Basis for the Duty

2.3 Continuing Nature of the Duty of Utmost Good Faith

2.4 Application of the Duty of Utmost Good Faith

2.5 Reciprocal Duties

2.6 Scope of Insurer’s Duty of Utmost Good Faith

2.7 Scope of Insured’s Duty of Utmost Good Faith

2.8 Remedies for Breach of the Duty of Utmost Good Faith

2.9 Conclusion

Chapter 3 - Pre-contractual Duty of Disclosure and Misrepresentation

3.1 Introduction

3.2 Development and Application of the Pre-Contractual Duties in the United Kingdom

3.3 Development and Application of the Pre-Contractual Duties in Malaysia

3.4 Conclusion

Chapter 4 - Post-contractual Duty of Good Faith and Claims Settlement

4.1 Introduction

4.2 Application of the Law in the United Kingdom

4.3 Development and Application of the Law in Malaysia

4.4 Conclusion

Chapter 5 - Utmost Good Faith and Takaful in Malaysia

5.1 Introduction

5.2 The Juridical Basis of Takaful

5.3 Takaful Models in Operation

5.4 The Development and Regulation of Takaful in Malaysia

5.5 Conclusion

Chapter 6 - Law Reform From a Social Science Perspective

6.1 Introduction

6.2 Legal Culture

6.3 Legal Structure

6.4 Legal Substance

6.5 Measuring Legal Culture

6.6 Intra-National or Ethnic Culture

6.7 Effect of Legal Culture on Structure and Substance

6.8 Conclusion

Chapter 7 - Conclusion

7.1 Introduction

7.2 Proposed Reforms

7.3 The Role of Economic Efficiency

7.4 Viability of Proposed Reforms

7.5 Conclusion

Appendix - Financial Mediation Bureau of Malaysia’s Claims Statistics.

Notes:

Description based upon print version of record.

Includes bibliographical references at the end of each chapters and index.

ISBN:

981-10-0383-1