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Timothy Chan is an insurance lawyer based in Sydney.
Tim advises on corporate regulatory and contentious insurance matters. His experience includes the establishment of insurance businesses, major transactions, distribution, alternative risk transfer structures and insurance & reinsurance disputes, acting for both insurers and policyholders. Tim is also a key member of the Australian InsurTech regulatory practice and regularly works with insurers, brokers and start-ups on new insurance ventures and product development.
Tim is known for his active involvement in the insurance ecosystem and commerciality, and has been described as 'one of the leading legal advisors for InsurTech in Australia'. He has been involved in some of Australia's largest insurance claims and regularly presents on emerging insurance and InsurTech issues. Tim is also a recommended lawyer in The Legal 500 Asia Pacific where he is listed as a Rising Star for Insurance.
Tim enjoys understanding his clients' objectives in order to develop appropriate strategies and solutions. He is an ANZIIF certified insurance professional (CIP), serves on the NSW Committee of Young Insurance Professionals (YIPs) as the Communications Officer and is a member of the Australian Insurance Law Association and Reinsurance Discussion Group. Tim is admitted to practice in the Supreme Court of NSW, the Federal Court and the High Court of Australia.
- Bachelor of Laws (Hons Class I), University of New South Wales
- Bachelor of Commerce in Finance (Distinction), University of New South Wales
- Supreme Court of New South Wales
- High Court of Australia
Insurance & InsurTech (Advisory)
- Advise multiple domestic and international (re)insurers, intermediaries and InsurTechs on entry into the Australian market, insurance licensing, prudential requirements, regulation of insurance products, distribution and product disclosure.
- Prepare bespoke policy wordings for insurers and underwriting agencies including for first-in-market products.
- Advise insurers, airlines and banks on white labelling of general, life and health insurance products.
- Advise multiple corporates and JVs on risk allocation and procurement of risk transfer for major infrastructure projects including Sydney Light Rail, WestConnex and multiple domestic & international government projects.
- Advise major bank on its credit insurance program.
- Advise a range of domestic and international insurers and underwriting agencies on regulatory investigations and regulatory change projects.
- Act as insurance counsel in major transactions including IOOF in its acquisition of MLC Wealth from NAB.
Reinsurance and alternative risk transfer
- Act for cedents and reinsurers in relation to reinsurance programs and strategy including collateralisation requirements.
- Develop and advise on parametric products for the Australian market.
- Advise local and international insurers and reinsurers on preparation and interpretation of reinsurance treaties.
- Assist major banks and community organisations with establishment of alternative risk transfer products including discretionary mutuals and captives.
- Act for onshore distributor in disputing major product liability claim decision.
- Act for various corporate insureds in claims strategy and disputes involving ISR, public liability, professional indemnity and public liability policies.
- Act for insurers as monitoring and coverage counsel in multiple claims including:
- professional indemnity claim involving national accounting/auditing firm following $500m collapse of a retirement fund.
- D&O claim involving insolvent trading allegations totalling $15m in losses.
- Defend professional indemnity insurers in $80m claim concerning notification of claims and s 54 of the Insurance Contracts Act 1984 (Cth).
- Act for local and international insurers in relation to cyber insurance claims including ransomware, invoice fraud and social engineering attacks.
- Advise major travel insurer on claims strategy for major loss travel insurance claims.
- Represent insurer in reinsurance dispute against global reinsurer in relation to treatment of claims liabilities.
- Act for insurers in settlement of significant product liability class action involving medical prostheses.
- Recommended Lawyer, 'Rising Star' for Insurance, The Legal 500 Asia Pacific (2022)
- ANZIIF Certified Insurance Professional (CIP)
- NSW Committee Member, Young Insurance Professionals Australia and New Zealand (YIPs)
- Member, NSW Reinsurance Discussion Group
- Member, Australian Insurance Law Association
- TechHub Committee Member, Australian Insurance Law Association
Blog | August 10, 2022
Publication | August 08, 2022
Publication | August 03, 2022
Publication | July 13, 2022