The role of economic justice in realizing the principle of utmost good faith fairness in default insurance

Economic Annals-ХХI: Volume 188, Issue 3-4, Pages: 195-200

Citation information:
Mulhadi, Ikhwansyah, I., Kartikasari, R., & Fakhriah, E. L. (2021). The role of economy judge in realizing the principle of utmost good faith fairness in default insurance. Economic Annals-XXI, 188(3-4), 195-200. doi: https://doi.org/10.21003/ea.V188-23


Mulhadi
PhD Student (Law),
Faculty of Law,
Universitas Padjadjaran
42 Banda Str., Bandung, West Java, 40556, Indonesia
mulhadi@usu.ac.id
ORCID ID: https://orcid.org/0000-0003-1280-4797

Isis Ikhwansyah
Lecturer,
Faculty of Law,
Universitas Padjadjaran
42 Banda Str., Bandung, West Java, 40556, Indonesia
isis.ikhwansyah@unpad.ac.id
ORCID ID: https://orcid.org/0000-0003-0777-2495

Raden Kartikasari
Lecturer,
Faculty of Law,
Universitas Padjadjaran
42 Banda Str., Bandung, West Java, 40556, Indonesia
kartikasari@unpad.ac.id
ORCID ID: https://orcid.org/0000-0002-6922-2184

Efa Laela Fakhriah
Lecturer,
Faculty of Law,
Universitas Padjadjaran
42 Banda Str., Bandung, West Java, 40556, Indonesia
efa@unpad.ac.id
ORCID ID: https://orcid.org/0000-0002-2425-2208

The role of economic justice in realizing the principle of utmost good faith fairness in default insurance

Abstract. This research is conducted to determine the role of economy in realizing the principle of utmost good faith which is fair since this principle does not take sides in insurance, which makes it possible to decide whether it is effective or not in the context of law enforcement in courts in the 2012-2021 period. This normative-philosophical research is based on philosophy of values and legal doctrines and is conducted with the use of qualitative and comparative methods. It is aimed at analyzing legal resources referring to selected legal provisions set out in legislation, literature, expert conclusions, reports, articles, research results and court decisions.

Keywords: Еconomy; Utmost Good Faith; Fairness; Insurance

JEL Classification: G22; O10

Acknowledgements and Funding: We would like to thank the supervisors for directing and encouraging so that this research becomes a scientific article. The authors received no direct funding for this research.

Contribution: Main author is Mr. Mulhadi. The co-authors consulted the main author.

Data Availability Statement: The dataset is available from the authors upon request.

DOI: https://doi.org/10.21003/ea.V188-23

References

  1. Anifalaje, K. (2019). Statutory Reform of the Doctrine of Uberrimae Fidei in Insurance Law: A Comparative Review. Journal of African Law, 63(2), 251-279.
    https://doi.org/10.1017/S0021855319000160
  2. Bertolini, D. (2021). Toward a framework to define the outer boundaries of good faith in contractual performance. Alberta Law Review, 58(3), 1-48.
    https://ssrn.com/abstract=3803622
  3. Cerini, D. (2020). Duties and remedies in the Principles of International Commercial Contracts (PICC) and the Principles of Reinsurance Contract Law (PRICL): notes for a comparison. Uniform Law Review, 25(1), 21-44.
    https://doi.org/10.1093/ulr/unaa001
  4. Choudhury, S., & Das, P. (2020). Good Faith in Maritime Law Contracts. In P. Mukherjee, Jr. M. Mejia, & J. Xu (Eds.), Maritime Law in Motion (pp. 115-130). Springer, Cham.
    https://doi.org/10.1007/978-3-030-31749-2_7
  5. Jin, Z., Liao, H., Yang, Y., & Yu, X. (2020). Optimal dividend strategy for an insurance group with contagious default risk. Scandinavian Actuarial Journal, 4, 1-27.
    https://doi.org/10.1080/03461238.2020.1845231
  6. Sethi, A. (2021). Towards a Pluralistic Conception of Judicial Role. University of Missouri-Kansas City Law Review, 90(1), 1-42.
    https://ssrn.com/abstract=3545792
  7. Tambunan, M. R. (2020). A note to transfer pricing audit performance by Indonesia’s tax administration based on tax court decision 2015-2019 on manufacturing industry. Jurnal Akuntansi dan Auditing Indonesia, 24(2), 85-96.
    https://doi.org/10.20885/jaai.vol24.iss2.art2
  8. Tchotourian, I. (2021). CSR Perspectives About Innovation in Canadian Corporate Law: An Ex Ante/Ex Post Approach?. In A. Masson, & G. Robinson (Eds.), Mapping Legal Innovation (pp. 267-310). Springer, Cham.
    https://doi.org/10.1007/978-3-030-47447-8_12
  9. Triana, N. (2018). Alternative Dispute Resolution Model in the AJB Bumiputera Life Insurance Company of Purwokerto in Shari’ah Perspectives. AL-’ADALAH, 15(2), 367-388.
    https://doi.org/10.24042/adalah.v15i2.3004
  10. Wong, N. (2019). The reform of the duty of Warranty and Utmost good faith under UK marine insurance and the enlightenment to Chinese Legislationan analytical study [Doctoral dissertation, University of Essex].
    http://repository.essex.ac.uk/26974

Received 15.02.2021
Received in revised form 24.03.2021
Accepted 30.03.2021
Available online 10.05.2021