Third Party Rights in Insurance Law in Malaysia by Chan Wai Meng

Third Party Rights in Insurance Law in Malaysia

Insurance Rights of Third Parties Malaysian law addresses an important part of insurance law that affects people from all walks of life. It addresses concerns that claimants, legal practitioners, risk managers, insurance practitioners, estate planners, and judicial officers adjudicating insurance claims face on a regular basis. The rights of a person who is not a party to the policy are examined in this book. In many cases, the insurance policy is written for the benefit of a third party, such as a beneficiary named by the policy owner, an assignee, a motorist injured in a car accident, a client suing a professional for negligence, or a worker injured on the job.

Third Party Rights in Insurance Law in Malaysia examines the doctrine of privity of contract, the insurer's defences, and the application of other substantive laws affecting third-party rights, such as agency, insolvency, and trust. Current challenges in insurance law relating to third-party rights are also examined. The Malaysian Companies Commission has proposed that limited liability partnerships be implemented as a type of business instrument. It was proposed that the partnership be compelled to effect a professional indemnity coverage in order to protect the rights of the public who may have a genuine claim against a negligent professional limited liability partnership. Third Party Rights in Malaysian Insurance Law investigates the policy's general characteristics that may affect third-party rights. Another hot question right now is whether claimants are protected if an insurer goes bankrupt. The Insurance Guarantee Scheme Fund was created in Malaysia to reimburse such claimants. The rights of a third-party claimant against the Fund are examined in one chapter of the book.

Readership:
Legal Practitioners, risk managers, insurance practitioners, estate planners, judicial officer adjudicating insurance claims.

TABLE OF CONTENTS of Third Party Rights in Insurance Law in Malaysia

1. Introduction
2. Rights of a Nominee as a Third Party
3. Rights of An Assignee as a Third Party
4. Rights of the Beneficiary of a Statutory Trust as a Third Party
5. Rights of Third Parties in Motor Insurance
6. Rights of Third Parties in Group Insurance
7. Rights of the Third Parties When the Insurrer is Wound Up
Appendices

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