Good Faith in Insurance and Takaful Contracts in Malaysia A Comparat
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 betw
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Good Faith in Insurance and Takaful Contracts in Malaysia A Comparative Perspective
Good Faith in Insurance and Takaful Contracts in Malaysia
Haemala Thanasegaran
Good Faith in Insurance and Takaful Contracts in Malaysia A Comparative Perspective
123
Haemala Thanasegaran Monash University Melbourne, VIC Australia and Monash University Subang Jaya, Selangor Malaysia
ISBN 978-981-10-0381-3 DOI 10.1007/978-981-10-0383-7
ISBN 978-981-10-0383-7
(eBook)
Library of Congress Control Number: 2015960218 © Springer Science+Business Media Singapore 2016 This work is subject to copyright. All rights are reserved by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. Printed on acid-free paper This Springer imprint is published by SpringerNature The registered company is Springer Science+Business Media Singapore Pte Ltd.
Foreword
The duty of utmost good faith is perhaps the single most important distinguishing characteristic of insurance contracts. In civil law jurisdictions, contractual good faith is a pervasive concept. In common law jurisdictions, by contrast, utmost good faith is confined to insurance law and extends to both pre-contractual and post-contractual dealings between the insurers and their policyholders. The law has undergone dramatic changes in recent times. In Australia, the Insurance Contracts Act 1984 distinguishes between pre-contractual presentation of information and post-contractual conduct, rendering the latter an implied contractual term with both contractual and regulatory sanctions if the duty is broken. In the UK, exactly 250 years after the duty was laid down in the seminal case of Carter v Boehm, the Insurance Act 2015—which comes into force in 2016—has recast the duty of utmost good faith, reclassifying the pre-contractual duty as one of fair presentation and laying down a more general principle for post-contractual dealings. Dr. Haemala Thanasegaran’s text, which is now in front of you, is the first major published work to demonstrate systematically how the principles of utmost good faith apply to takaful. Islami
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