Applying Insurance Principles across Jurisdictions

This article explores the challenges and strategies involved in applying core insurance principles across different legal and regulatory jurisdictions. As insurance markets become increasingly globalized, insurers, reinsurers, and regulators face the complex task of harmonizing foundational principles—such as indemnity, insurable interest, utmost good faith, and subrogation—with diverse legal systems and cultural expectations. The paper examines comparative frameworks, highlights jurisdictional divergences, and considers international regulatory efforts aimed at standardization, such as those led by the International Association of Insurance Supervisors (IAIS). The discussion underscores the need for flexible, yet principled, approaches to insurance regulation and contract enforcement in a cross-border context.