Law Commons^™

Status Quo Kewenangan Perusahaan Asuransi Dalam Menerbitkan Produk Penjaminan Pasca Berlaku Efektifnya Undang-Undang No. 1 Tahun 2016 Tentang Penjaminan, Kalih Krisnareindra

"Dharmasisya” Jurnal Program Magister Hukum FHUI

Risk is something that is always exist in various type of business. Risk management commonly used the assistance of insurance companies to manage its risk by risk transfer. The current prevailing law allows the insurance industry to develop its products wider than the explicitly defined business lines in the regulation. Historically, the guarantee/surety business has been marketed jointly between insurance companies and guarantee/surety companies. This can be traced through laws and regulations that provide the authority to both type of companies to issue guarantee/surety products. But with the enactment of Law No. 1 of 2016 concerning Guarantees, there is an …

Pertanggungjawaban Otoritas Jasa Keuangan Terhadap Kasus Gagal Bayar Perusahaan Asuransi, Tumbur Halomoan

"Dharmasisya” Jurnal Program Magister Hukum FHUI

The development of the financial industry accompanied by close supervision in order to maintain stability in the financial industry. Financial Services Authority is an independent institution have special authority by the Law to overseen the financial industry. The financial industry is divided into two parts first the bank financial industry and the non-bank financial industry. One non-bank financial industry that is overseen by OJK. OJK in overseeing insurance is quite large starting from the granting of a company establishment license to the company's activities which are reported regularly by the insurance company. OJK not necessarily make the insurance industry run …

Status Quo Kewenangan Perusahaan Asuransi Dalam Menerbitkan Produk Penjaminan Pasca Berlaku Efektifnya Undang-Undang No. 1 Tahun 2016 Tentang Penjaminan, Kalih Krisnareindra

"Dharmasisya” Jurnal Program Magister Hukum FHUI

Risk is something that is always exist in various type of business. Risk management commonly used the assistance of insurance companies to manage its risk by risk transfer. The current prevailing law allows the insurance industry to develop its products wider than the explicitly defined business lines in the regulation. Historically, the guarantee/surety business has been marketed jointly between insurance companies and guarantee/surety companies. This can be traced through laws and regulations that provide the authority to both type of companies to issue guarantee/surety products. But with the enactment of Law No. 1 of 2016 concerning Guarantees, there is an …

Penerapan Prinsip Kontribusi Dan Prinsip Subrogasi Dalam Asuransi Pengangkutan Laut (Studi Kasus Pt. Asuransi Axa Indonesia Dengan Pt. Asuransi Buana Independent), Luthfiana Arumsari

"Dharmasisya” Jurnal Program Magister Hukum FHUI

In insurance, for the same object can be insured to more than 1 (one) insurance company, which means it is possible for an insured to receive profits from 2 (two) or more insurers, to avoid this, in the insurance law in Indonesia known indemnity principle , which serves to avoid the benefits received by the insured that exceeds the losses suffered. The author conducted research at PT. AXA Insurance Indonesia (hereinafter referred to as PT. AXA) and PT. Buana Independent Insurance (hereinafter referred to as PT. ABI), each of which is an Insurance company that has equally guaranteed a cargo …

Law School News: Dennis W. Nixon: Doctor Of Laws, Honoris Causa 05-09-2020, Roger Williams University School Of Law

Life of the Law School (1993- )

No abstract provided.

Cyber Insurance Today: Saving It Before It Needs Saving, Angela Nieves

Catholic University Journal of Law and Technology

Cyber insurance, which covers a company’s losses and costs stemming from a cyberattack, represents a nearly $5 billion global market. But have stakeholders shaped a sustainable model? This article analyzes contrasting claims about the viability of cyber insurance. It proposes measures to ensure the survival of the cyber insurance market, which should be immediately addressed given the current state of the world and the fact that even pre-COVID-19, businesses worldwide stood to lose over $5.2 trillion over the next five years due to cybercrimes. Unless action is taken to mitigate the fallout from cyber events, the cyber insurance market will …

Dual Regulation Of Insurance, Christopher French

Christopher C. French

Governing Disasters: The Challenge Of Global Disaster Law And Policy, Eric A. Feldman, Chelsea Fish

All Faculty Scholarship

This chapter uses the analytical framework of transnational legal ordering (TLO) developed by Halliday and Shaffer and applies it to the area of law and disasters. In contrast to the increasingly transnational legal nature of social ordering highlighted by Halliday and Shaffer, it argues that the emergence of transnational regulatory networks and cross-border principles or policies in the area of disaster management has been uneven and incomplete. Although there are many factors that help to explain why the law/disasters area has resisted the trend toward “transnationalization,” two stand out. One is the relative dearth of national laws and policies governing …

Kidnappers Without Borders: An Epidemic In Need Of Global Solutions, Caroline Gray Mcglamry

Georgia Journal of International & Comparative Law

No abstract provided.

When "Yes" Means "No": Mccarran-Ferguson, The New York Convention, And The Limits Of Congressional Assent, Aaron L. Wells

Pepperdine Dispute Resolution Law Journal

The article focuses on the awards and arbitration of the resolution of the international commercial disputes with respect to the cross-border contracts and agreements. The enactment of the McCarran-Ferguson Act of the U.S. was for the prevention of the general applicability of the federal legislation in the authority of the states for the purpose of regulating the insurance industry. Information on the decision of the Supreme Court of the U.S. regarding this issue is also presented.

Regulation Not Prohibition: The Comparative Case Against The Insurable Interest Doctrine, Sharo Michael Atmeh

Northwestern Journal of International Law & Business

American law requires an insurable interest—a pecuniary or affective stake in the subject of an insurance policy—as a predicate to properly obtaining insurance. In theory, the rule prevents both wagering on individual lives and moral hazard. In practice, the doctrine is avoided by complex insurance transaction structuring to effectuate both origination and transfers of insurance by individuals without an insurable interest. This paper argues that it is time to abandon the insurable interest doctrine. As both the English and Australian experiences indicate, elimination of the insurable interest doctrine will have little detrimental pecuniary effect on the insurance industry, while freeing …

Healthcare In Cuba, Carmen M. Cusack J.D.

Carmen M Cusack

Poor Americans who lack health-insurance or have little opportunity to access specialized or non-emergency medical treatment in the U.S. should be permitted by the U.S. State Department to spend money in Cuba in order to receive inexpensive medical treatment, and should be allowed to stay (and spend) in Cuba as long as necessary in order to receive inexpensive medical treatment. If Americans were permitted by an exception in the Helms-Burton Act to spend money in Cuba and visit for medical purposes, then Cuba would likely treat these Americans for a very low cost. This can be argued because 1) Cuba …

The Development Of International Norms For Insurance Regulation, Elizabeth F. Brown

Elizabeth F Brown

The development of international norms for insurance has not progressed as far or as deeply as the development of international norms for banking. Several factors have affected this process. First, the efforts to develop such norms are relatively new. The International Association of Insurance Supervisors (“IAIS”) has existed for less than fifteen years while the Basel Committee on Banking Supervision has existed for over thirty years. Second, the membership of the IAIS makes it harder for that organization to achieve consensus on principles and standards than for the Basel Committee. The IAIS has members from almost 140 nations, including both …

Energy Policy, Intellectual Property And Technology Transfer To Address Climate Change, Prof. Elizabeth Burleson

Prof. Elizabeth Burleson

A weather beaten economy has become a wake up call. The International Energy Agency predicts that carbon emissions will rise 130 percent and oil demand will rise 70 percent by 2050. A sound energy policy that addresses climate change relies upon widespread transfer and implementation of environmentally sound technology. Multilateral cooperation can achieve environmentally sound technology transfer within in a meaningful time frame to address climate change.

Government Support For Terrorism Insurance, Thomas Russell, Jeffrey E. Thomas

Faculty Works

Federal government support for the terrorism insurance industry has a very brief history. Prior to 9/11, insurers did not take terrorist-related losses into account when underwriting risks. The industry did not even conceive of an attack that could generate such significant losses. The dramatic shift in perception since then has caused many to suggest that terrorism risks are uninsurable. The notion that terrorism risk was uninsurable was part of the rationale advanced for government intervention. When the initial efforts at legislation failed, the industry began to withdraw from the market by adding exclusions for terrorism-related losses to their policies. Reinsurers …

The Role Of Nongovernmental Organizations In The Climate Change Negotiations, Chiara Giorgetti

Law Faculty Publications

The role of nongovernmental organizations (NGOs) in monitoring the implementation of international treaties, their relevance in the organization of development projects, and their importance in the representation and education of civil society has been acknowledged and valued by both international organizations and national governments. Nongovernmental actors also play an important role in the negotiations of international agreements. Moreover, many UN agencies work closely with NGOs. NGOs have played an important part in numerous environmental conventions, and their role is becoming more clearly defined. The presence of NGOs has also been instrumental in the evolution and development of many international environmental …

Analysis Of The Hamburg Rules On Marine Cargo Insurance And Liability Insurance, Eun Sup Lee

ILSA Journal of International & Comparative Law

There has been an increasing interest on the effects of the United Nations Convention on the Carriage of Goods by Sea (Hamburg Rules) on the double insurance problem which arises whenever a proposal to modify a carrier's liability regime is under discussion.

Atoms And The Law, E. Blythe Stason, Samuel D. Estep, William J. Pierce

Books

Early in 1951 a group of interested members of the faculty of The University of Michigan Law School conceived the idea of a research project, the purpose of which would be to investigate the principal unique legal problems being created and likely to be created in the future by peaceful uses of atomic energy. The group planned the preparation and publication of a series of manuscripts which might ultimately emerge as one or more printed volumes dealing with the legal problems affecting this new form of energy. Many phases of the subject were scrutinized, including the rule-making and licensing powers …