Insurance in Asia We I W d e I e d n e t n if t y. W y e C. W o e C m o m m it m. W it e A. W c e A h c i h ev e e v. e

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1 Insurance in Asia We Identify. We Commit. We Achieve.

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3 Insurance Law Firm of the Year Asian Legal Business Awards 2010, 2011, 2013 and 2014 Hong Kong Law Firm of the Year Asian Legal Business Awards , Regional Law Firm of the Year IFLR Asia Awards 2008 Hong Kong Law Firm of the Year IFLR Asia Awards , Hong Kong Law Firm of the Year Chambers Asia Awards 2010 Hong Kong Law Firm of the Year Who s Who Legal Awards 2010 and 2012 Overview Mayer Brown JSM has extensive experience in contentious and noncontentious insurance related matters, advising on: Property and Casualty Professional Indemnity and Directors and Officers Liability Accident and Life Medical Malpractice Retirement Schemes Funds and Investment Linked Assurance Schemes Regulatory and Compliance Our clients have a broad range of differing needs, to which we have the skills and the experience necessary to service them all. Who are we? Mayer Brown JSM s insurance team comprises of experienced lawyers and executives spanning seven offices - Hong Kong, Beijing, Shanghai, Guangzhou, Bangkok, Ho Chi Minh City and Hanoi. We have depth of experience in a wide range of legal disciplines relevant to the insurance industry. We are committed to excellent service delivery and our multilingual team establishes and maintains close working relationships with each of our clients. We take time to understand each client s particular business objectives with a view to delivering legal services in the most efficient and cost effective manner possible. Our expertise... PROPERTY AND CASUALTY Mayer Brown JSM handles a variety of matters relating to property and casualty claims and insurance programmes. Some key focus areas are: Business Interruption We have assisted insurers and re-insurers by advising on policy coverage and strategising on claims management issues to efficiently and effectively resolve disputes, including: Claims arising from infectious diseases in the hospitality and leisure industry Claims arising from damage at manufacturing plants in the PRC Co-insurance issues under business interruption policies Claims negotiations We assist our insurer clients on advising on coverage issues and adjustment of claims by their loss adjusters. Our focus is to ensure that our insurer clients understand their obligations under the policy for accurate reserving and prompt payment to insureds so that their businesses can be quickly rehabilitated. mayer brown jsm 1

4 Band 1 for Insurance: Contentious (International Firms) China Chambers Asia Pacific ( ) Tier 1 Insurance Law Firm in Hong Kong Asia Pacific Legal 500 ( ) Always takes the initiative and is widely known for expertise in personal injury litigation and professional indemnity work Asia Pacific Legal 500 (2010/2011) Employees Compensation / Workmen s Compensation Employees Compensation (EC) claims form an integral and major part of our insurance team s business portfolio. Our lawyers have handled all types of EC casualties, from simple injuries to quadriplegic injuries and fatal cases. Our lawyers have industry specific knowledge that draw know-how from their previous careers, for example, engineers. We handle claims across many different industries (such as property managers, developers and contractors, local authorities, public transportation, public utilities and tunnel operators). We are also experienced in handling fraudulent claims and recoveries against third parties. Personal Injury Personal injury claims have grown significantly in recent years. Although conditional and contingency fee arrangements are currently illegal in Hong Kong, increased awareness of legal rights and access to Legal Aid has contributed to the growth. Mayer Brown JSM is well established in handling such claims. We act for insurers under various policies, such as Public Liability, Occupiers Liability and Contractors All Risks. We also act for insured parties under global policies where the excess layer has seen a large increase in recent years. Our lawyers have handled all types of personal injuries claims, from simple slip and fall cases resulting in back injury to gas explosions and fires involving multiple claimants with varying severity of injuries. We have also acted for a wide variety of clients, such as chain-stores, golfcourses, the government, local authorities, manufacturers, nightclubs and public utilities. We are frequently engaged to draft public liability policies so that they accord with market developments, as well as to ensure the scope of coverage is properly delineated. We have also been appointed by the Hong Kong Federation of Insurers to draft the boilerplate wording of a compulsory public liability policy for owners corporations. 2 Insurance in Asia

5 The robust casualtyfocused side of the practice has also dealt with a number of disaster-level claims - Chambers Asia Pacific (2012) Motor Vehicle Mayer Brown JSM has acted for a wide variety of parties regarding motor vehicle accidents, ranging from bus companies to the Motor Insurance Bureau of Hong Kong. We draw strength from the pool of knowledge and experience of our lawyers, who regularly advise clients on evidential matters soon after an accident occurs. Our lawyers also maintain close contact and work together with experts, such as accident reconstruction specialists. This has proved to be of great benefit to clients, as seen in the zero liability outcome achieved for a franchised bus operator when one of its double-decker buses careered off an elevated highway following a collision with an articulated vehicle resulting in 21 fatalities and 20 injured. Products Liability Mayer Brown JSM s Products Liability experience encompasses claims associated with the products itself, the facilities that make them and the companies that sell them. In Asia, we have been involved in an array of product liability claims, including cases involving industrial and consumer products, electronics and food products. We have handled claims in multiple jurisdictions and have benefited greatly from our on the ground local knowledge to quickly and efficiently resolve claims in a low profile and cost effective manner. As product recalls and liability lawsuits have major consequences in the court of public opinion, our crisis counselling includes skilful strategies for disclosure, communication and public advocacy. Commercial Package Policies and Personal Lines Mayer Brown JSM is involved in the handling of personal property and commercial package policies. The number and types of package policies available in the market have increased in recent years as insurers seek to broaden their client base and provide better and more unique services to mayer brown jsm 3

6 This contentious insurance practice has a keen focus on D&O and professional indemnity concerns. In addition to its Hong Kong caseload, the team has been handling an increasing number of claims relating to Chinese companies listed in the USA. - Chambers Asia Pacific (2012) insured parties. In this area, we have advised insurers on: General handling of claims arising under such policies The interaction and conflict between various sections of coverage Drafting of policy wording Insured parties are increasingly aware of their rights under a policy. The various sections of coverage have at times created situations where overlaps of coverage and overextensive acceptance of risk exist. Our insurance team s experience with differing types of insurance policies means we are better equipped to deal with coverage issues and drafting of alternate wording. PROFESSIONAL INDEMNITY AND DIRECTORS & OFFICERS LIABILITY Mayer Brown JSM has a strong presence in the handling of Professional Indemnity (PI) and Directors & Officers (D&O) Liability matters. Our team has solid experience and expertise in dealing with such matters. We represent a large number of PI and D&O insurers and their insureds in relation to litigated and non-litigated claims in Hong Kong and Asia. We have developed a reputable practice advising on coverage issues arising from claims against financial institutions, investment managers, architects, consulting engineers, educational institutions, corporate service providers, and directors and officers, as well as defending claims against them. We have been a key player in this niche evident from our appointment as counsel for PI and D&O insurers in Hong Kong and Singapore to advise on coverage issues in connection with claims against a number of financial institutions arising from the selling of investment products related to Lehman Brothers (Minibonds) and other retail structured products. We are attentive and conscious of the needs of our clients, as well as the interests of their insureds. We provide comprehensive, yet pragmatic advice on coverage issues to our clients 4 Insurance in Asia

7 Mayer Brown JSM is rated for its professional, efficient and pragmatic approach and for preserving clients reputations. It is particularly known on the contentious side... - Asia Pacific Legal 500 (2011/2012) so that they understand and appreciate their rights and obligations under the policy. We also provide advice tailored to the commercial and reputational risks that our clients or their insureds might face. We also advise PI and D&O insurers on policy drafting and review. ACCIDENT AND LIFE Mayer Brown JSM advises insurers on a wide variety of matters relating to Accident and Life insurance policies, including: Coverage issues Governing laws when multiple jurisdictions are involved Drafting of policy wording Investigation of the cause of accident Investigation of fraudulent claims Ascertaining of beneficiaries Our network of offices throughout Asia allows us to thoroughly investigate claims no matter where they occur. We are aware of local customs and procedures, such as in the obtaining of medical reports, police investigation reports and interviewing treating doctors, which is of great importance when investigating accident and life insurance claims. MEDICAL MALPRACTICE Mayer Brown JSM is particularly renowned for the handling of Medical Malpractice and Medical Professional Indemnity claims in Hong Kong. We have extensive experience in providing legal services to the healthcare industry and the medical profession for over 30 years. We advise public and private hospitals, doctors, dentists, nurses and other healthcare professionals, insurance companies and international professional indemnity organisations, and other healthcare related companies and organisations in relation to civil and criminal proceedings, judicial review, disciplinary proceedings, regulatory matters, death inquests, medical malpractice complaints, and other legal matters. We have also advised numerous doctors and hospitals on crisis management, including the handling of the media. mayer brown jsm 5

8 A well organised and truly integrated service across Asia - Chambers Asia Pacific (2011) RETIREMENT SCHEMES Mayer Brown JSM is a leading provider of legal services for the Mandatory Provident Fund (MPF) and other retirement schemes in Hong Kong. We act for a large number of Occupational Retirement Schemes Ordinance (ORSO) (i.e., voluntary private sector) retirement schemes as well as the largest MPF service providers in Hong Kong. Typically, we establish the relevant trust structures and handle all ongoing regulatory aspects as well as assisting with subsidiary agreements (such as investment management or custodian issues). We also advise all the large trustee companies in Hong Kong concerning issues relating to all aspects of ORSO and MPF retirement schemes, and work closely with all benefit consultants in Hong Kong on a regular basis. We provide practical commercial advice concerning such matters and do not limit ourselves to advising within strict legal parameters. We are able to draw on our relationships and experience of working with the relevant regulatory bodies to identify quickly and appropriately address issues faced by clients in an efficient and low-key manner. FUNDS AND INVESTMENT LINKED ASSURANCE SCHEMES Mayer Brown JSM s private investment fund practice includes the representation of private funds and their sponsors in connection with fund formations, portfolio investments and transactions, fund administration and regulatory matters, and disposition transactions. Our private investment fund clients include financial institutions, investment banking firms, insurance companies, investment advisers, commodity pools and brokerdealers, as well as pension funds, universities, and other institutional investors. Our range of services, amongst others, include: Advising on all regulatory and compliance aspects of authorised collective investment schemes, investment-linked assurance schemes, retail banking arrangements and MPF schemes Developing new financial products including investment-linked assurance schemes 6 Insurance in Asia

9 Sources say: They are very familiar with the insurance industry. We have strong relationships with them and they are sensitive to our company needs. - Chambers Asia Pacific (2012) Advising on innovative investment fund structuring and design including regulatory advice and transactional assistance with all ancillary arrangements relating to custody, investment management, trusteeship, administration, distribution, marketing and electronic delivery Establishing open and closed-ended collective investment schemes structured as unit trusts, mutual fund corporations and limited partnerships Advising on the marketing of funds in Hong Kong and licensing requirements Structuring and launching a diverse range of private equity arrangements, particularly for those investing in the PRC including advising on the structuring, acquisition and divestment of underlying fund investments for optimal tax effectiveness REGULATORY AND COMPLIANCE Mayer Brown JSM s objective is to provide in-house compliance departments with whatever external support they require in a manner that compliments their internal resources. We offer a comprehensive range of regulatory and compliance advice and services including: Advising on all licensing, regulatory and compliance issues relating to insurance and related investment products and services Assisting with the preparation of compliance procedures, compliance manuals and related documents Advising on acquisition of insurance businesses Advising on enquiries and investigations by regulators Advising on suspicious money laundering and fraud cases and preparing reports for submission to regulators Providing legal compliance audits, such as reviewing procedures and documentation against the requirements of applicable rules and regulations and reviewing marketing literature and websites for regulatory compliance mayer brown jsm 7

10 Highly Recommended for Insurance: Contentious - PLC Which Lawyer (2012) It has further expanded to encompass corporate insurance - Chambers Asia Pacific (2012) Strategic Approach At Mayer Brown JSM, we understand that when it comes to selecting legal representation, a range of issues will be taken into account - including time, cost, reputation, industry and jurisdictional knowledge. It is important for corporations to be represented by highly experienced lawyers. Mayer Brown JSM lawyers have the resources to identify and adopt a strategic and cost effective approach to resolve any case. We are committed to serving our clients in accordance with their best interests, meeting their objectives and determining the most favourable solution for them. We provide a wide range of services from debt collection to complex litigation strategy. We are experienced in resolving disputes under the rules and procedures of various jurisdictions and institutions and are well placed to advise on cross-jurisdictional issues. litigation cycle, to enhance the prospects of a favourable outcome. Evaluation of strengths and weaknesses extends beyond legal, financial and jurisdictional issues, to include commercial and intangible considerations such as reputation or business connections. Options may include settling a case, going to court or arbitration, or adopting some form of alternative dispute resolution, such as mediation. Our lawyers have developed specialised tools for litigation risk assessment, incorporating weighted average probability analysis, which can be utilised as necessary to assist clients to reach fully informed decisions. TALK TO US Angela Yim Partner angela.yim@mayerbrownjsm.com TL Lim Partner tl.lim@mayerbrownjsm.com Sara Or Partner sara.or@mayerbrownjsm.com We advise clients on the strengths and weaknesses of their position, and assess the options at each stage of the Marina Fung Partner marina.fung@mayerbrownjsm.com 8 Insurance in Asia

11 About Mayer Brown JSM Mayer Brown JSM is part of Mayer Brown, a global legal services provider, advising clients across the Americas, Asia and Europe. Our geographic strength means we can offer local market knowledge combined with global reach. We are noted for our commitment to client service and our ability to assist clients with their most complex and demanding legal and business challenges worldwide. We serve many of the world s largest companies, including a significant proportion of the Fortune 100, FTSE 100, DAX and Hang Seng Index companies and more than half of the world s largest banks. We provide legal services in areas such as banking and finance; corporate and securities; litigation and dispute resolution; antitrust and competition; employment and benefi ts; environmental; financial services regulatory and enforcement; government and global trade; intellectual property; real estate; tax; restructuring, bankruptcy and insolvency; and wealth management. Please visit for comprehensive contact information for all our offices. This publication provides information and comments on legal issues and developments of interest to our clients and friends. The foregoing is intended to provide a general guide to the subject matter and is not intended to provide legal advice or be a substitute for specific advice concerning individual situations. Readers should seek legal advice before taking any action with respect to the matters discussed herein. Please also read the Mayer Brown JSM legal publications Disclaimer. Mayer Brown is a global legal services provider comprising legal practices that are separate entities (the Mayer Brown Practices ). The Mayer Brown Practices are: Mayer Brown LLP and Mayer Brown Europe-Brussels LLP, both limited liability partnerships established in Illinois USA; Mayer Brown International LLP, a limited liability partnership incorporated in England and Wales (authorized and regulated by the Solicitors Regulation Authority and registered in England and Wales number OC ); Mayer Brown, a SELAS established in France; Mayer Brown JSM, a Hong Kong partnership and its associated legal practices in Asia; and Tauil & Chequer Advogados, a Brazilian law partnership with which Mayer Brown is associated. Mayer Brown Consulting (Singapore) Pte. Ltd and its subsidiary, which are affiliated with Mayer Brown, provide customs and trade advisory and consultancy services, not legal services. Mayer Brown and the Mayer Brown logo are the trademarks of the Mayer Brown Practices in their respective jurisdictions The Mayer Brown Practices. All rights reserved.

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