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Vol 22 No 11 Nov/Dec 2017

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The Law of Contract Damages

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Good Faith in Insurance and Takaful Contracts in Malaysia: A Comparative Perspective

ISBN13: 9789811003813
Published: February 2016
Publisher: Springer-Verlag
Country of Publication: Switzerland
Format: Hardback
Price: £63.99

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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.

Other Jurisdictions , Asia

Chapter 1
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
7.1 Introduction.
7.2 Proposed Reforms.
7.3 The Role of Economic Efficiency.
7.4 Viability of Proposed Reforms.
7.5 Conclusion.

Financial Mediation Bureau of Malaysia's Claims Statistics.