Overview

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 bookexamines the duty of utmost good faith from both a doctrinal and a social science perspective, in order to propose suitable legal reform.

Full Product Details

Author:   Haemala Thanasegaran
Publisher:   Springer Verlag, Singapore
Imprint:   Springer Verlag, Singapore
Edition:   Softcover reprint of the original 1st ed. 2016
Dimensions:   Width: 15.50cm , Height: 1.40cm , Length: 23.50cm
Weight:   0.454kg
ISBN:  

9789811091476

ISBN 10:   9811091471
Pages:   233
Publication Date:   31 March 2018
Audience:   Professional and scholarly ,  Professional & Vocational
Format:   Paperback
Publisher's Status:   Active
Availability:   Manufactured on demand  
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Table of 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.

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Author Information

Haemala Thanasegaran is Senior Lecturer with the Department of Business Law and Taxation at Monash University, Australia. She has taught primarily international trade law, business law, Malaysian income tax law, and Malaysian company law, amongst other subjects. Her research interests are in insurance and takaful (Islamic insurance), and legal culture and contracts (with an emphasis on comparative law).

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