Staff Seminar: The Insurance Act 2015 – Reform of Warranties and Other Risk Control Provisions

On 5 June 2017, the School of Law of City University of Hong Kong (“CityU”) was honoured to have Professor Baris Soyer, Professor of the College of Law at Swansea University, to give a staff seminar on “The Insurance Act 2015 – Reform of Warranties and Other Risk Control Provisions”.

Dr. Xing Lijuan, Assistant Professor of the School of Law and Associate Director of Hong Kong Centre for Maritime and Transportation Law, introduced Professor Baris Soyer at the beginning of the seminar. Professor Soyer is currently the Head of the Department of Shipping and Trade Law at Swansea University and is involved in the teaching of Admiralty Law, Marine Insurance Law, and Oil and Gas Law: Contracts and Liabilities in the LLM programme. He is one of the editors of the Journal of International Maritime Law and is also on the editorial board of Shipping and Trade Law and Baltic Maritime Law Quarterly.

After general introduction to the background of the Insurance Act 2015 and the main problems of the Marine Insurance Act 1906, Professor Soyer mainly discussed the appropriateness of the reforms introduced by the 2015 Act from risk assessment and management perspective.

During the seminar, Professor Soyer also offered a critical analysis on the potential impact of the changes on insurance law and practice. “A degree of uncertainty will be inevitable as a result of the changes especially with regard to the application of s. 11 of the Insurance Act 2015; but changes will undoubtedly improve the position of the assured,” Professor Soyer said. He also believes that the Insurance Act 2015 will accelerate the reform process in other common law jurisdictions such as Hong Kong.