Singapore

Insurance Law Association (Singapore)

The formation of an association to consider legal issues affecting insurance and to examine issues relating to insurance law was first mooted in 1994 as a result of contacts some founder members had with the Association Internationale de Droit des Assurances (“AIDA”). The aim was to improve the level of knowledge in this area, learn from each other’s experience and expertise, and deal with and address the issues that arise in the context of the insurance industry and legal framework in Singapore.

A first informal meeting was convened in 1994, which was attended mainly by lawyers. The consensus was that the intention was not to form an Insurance Lawyers’ Association but an Insurance Law Association that would require the active involvement of the people in the insurance industry. Many lawyers at this meeting decided not to play an active role but encouraged their insurance industry clients to support the formation of the Association. At the second meeting, many more people from the insurance industry attended. From this, a pro tem Committee was formed to draft the Constitution, make the application to register the Association and to obtain sponsorship and support for the Association from the insurance industry. The Association was registered on 25 October 1995, with the inaugural General Meeting held on 21 March 1996.

The Association has continued to be faithful to its founding objectives, namely:

• To consider and discuss matters of general interests arising out of the law of Singapore and of such other countries as the Association may from time to time think desirable, in so far as they affect any branch of insurance.
• To hear and discuss papers dealing with insurance law problems of Singapore and other countries.
• To take such action as may be thought desirable by the Association to further its aims and objectives, including, but not limited to: 
  • collaborating with existing associations or bodies connected with insurance;
  • forming ad hoc committees or other groups for the purpose of preparing or considering reports or papers on such specific matters of law and practice as require detailed study.

The Association hosts seminars and discussions by prominent insurance experts from Singapore, the region and further afield, thereby advancing the knowledge and expertise of insurance law in the Singaporean insurance industry. The Association has also played an active role in developments in the Singaporean insurance industry, including helping to drive the implementation of Reinsurance Contract Certainty in conjunction with the MAS, GIA, RBAS and SRA.

Fuller details of the Association’s genesis and activities can be found on its website: www.ilas.sg.