Accomplishments

On June 24, 2016 ILAS hosted a seminar titled “Financial Condition Analysis.” Mr Iain Potter and Mr Dan De Silva of forensic accountants Matson Driscoll and Damico Pte Ltd (MDD) made the presentation. For some large claims Insurers may need to investigate whether loss event was motivated or claim amount is inflated which may require analysis of their financial statements. Seminar provided a snapshot of how forensic accountants are able to help, whether valuable information is located, how it can be analysed and interpreted and how conclusions can be drawn.

On April 7, 2016 ILAS hosted a seminar titled “Sanctions, what your business needs to know”. The presentation was by Mr Jonathan Goacher, Mr Karnan Thirupathy and Andrew Cook from Kennedys Legal Solutions. Sanctions to prevent trade and financial transactions with certain countries, organisations and individuals are becoming increasingly widespread. The speakers addressed the various sanctions regimes, what sanctions prohibit, both generally and in the context of insurance and shipping, who is required to comply with sanctions, the potential consequences for non-compliance, how to conduct sanctions due diligence and what to do if a customer or beneficiary is a sanctioned person.

On January 12, 2016 ILAS hosted a seminar titled “Aggregation of Claims, with a focus on professional indemnity insurance”. The presentation was by Mr Derrick Dale QC and Ben Lynch from Fountain Court Chambers, London. The talk addressed some key issues relating to aggregation of claim following natural or man-made disasters in the light of market-defining AIG case, the Godiva litigation and the decision in Aioi Nissay Dowa.

On October 20, 2015 ILAS hosted a seminar titled “Fraudulent Claims: What’s so special about insurers?” Mr Stephen Moriarty QC from Fountain Court Chambers in London made the presentation. During the presentation, Mr Moriarty reviewed the current state of English law on fraudulent claims, what counts as a fraudulent claim. Talk examined important development in UK, both case-law and statutory as well as form the public policy considerations.

On September 2, 2015 ILAS hosted a seminar titled “Orient Express: Recovery for Business Interruption Losses”. The presentation was by Mr Gavin Kealey QC and Ms Sushma Ananda of 7 King’s Bench Walk in which they discussed the case of Orient-Express Hotels v Assicurazioni Generali SA and its implications for business interruption cover in the market.

On 06/01/2015 ILAS hosted a seminar titled “Recent Developments on Insurers’ Rights of Subrogation.” The presentation was by Mr Jeffrey Gruder QC from Essex Court Chambers, London who had argued the case of Ocean Victory before the English Court of Appeal.

On October 9, 2014 ILAS hosted a seminar entitled “Losing your Rights: Problems with Waiver and Estoppel”. The presentation was by Mr Sean Wilken QC from one of London’s top commercial barristers chambers, 39 Essex Street.

On July 9, 2014 ILAS hosted a seminar titled “Good Faith in Insurance Contracts”. The presentation was by Mr P Padman from Tan Kok Quan Partnership. During the presentation Mr Padman discussed the source of the doctrine, its codification in English law, its reception into Singapore law, the scope and implication of the doctrine from both the insured’s and the insurer’s perspective at pre-contract stage, during the policy period and when make claims. Some cases where policies were avoided and new legislative changes were examined and discussed.