The latest update to the Cambodia chapter of Thomson Reuters’ Practical Law guide to insurance and reinsurance has been published, written by legal practitioners from Tilleke & Gibbins’ Phnom Penh office.
The guide is a Q&A-style overview of insurance and reinsurance law, with entries from legal experts in 40 jurisdictions worldwide. Tilleke & Gibbins’ Cambodia contribution starts with a detailed overview of the Cambodian market, including information on market trends, the regulatory framework, and relevant legislation, such as the Insurance Law. The Q&A is then separated into three main sections:
- Operating restrictions. This section addresses licensing, ownership restrictions, ongoing requirements (compliance) and penalties for noncompliance, selling restrictions, and monitoring and disclosure requirements.
- Insurance and reinsurance policies. This section covers implied terms, customer protections, and standard policies or terms.
- Insurance and reinsurance policy claims. This part of the Q&A is devoted to the claims process and related issues, including third-party claims, time limits, remedies, punitive damage claims, provider insolvency, dispute resolution, and reform.
Practical Law brings together guides to key legal practice areas around the world for business lawyers. Tilleke & Gibbins contributes many overviews on various legal practice areas for all of the firm’s jurisdictions in Southeast Asia.
To read the full Cambodia chapter, please visit the Practical Law website.