Jenny is a counsel in the Insurance practice in Mayer Brown’s Hong Kong office. Jenny advises insurers, insurance intermediaries and financial institutions on range of insurance regulatory matters including compliance, licence applications as well as regulatory investigations and inquiries. Jenny has breadth of experience in handling a range of insurance issues and advising on various insurance products including life insurance, financial lines, public and products liability. Jenny has acted as coverage and defence counsel on a number of professional indemnity and Directors & Officers’ claims. Jenny has also advised insurers, financial institutions and other insurance industry participants on various regulatory and insurance corporate matters including policy review and development, advising on issues relating to insurable interests and statutory trusts and insurance intermediary licensing regime.
Jenny has advised insurers in Hong Kong, Australia and New Zealand. Jenny also worked in-house at an international life insurer in Hong Kong working closely with business units on product development, insurtech projects and insurance agents compensation packages as well as advising on various regulatory and compliance issues.
Areas of Focus
- Acted for a leading international life insurance company in relation to a self-reporting incident to the Insurance Authority and SFC in relation to certain longstanding investment-linked assurance (ILAS) products. This involved an in-depth investigation into the root cause of the issue (delving into the system setup and programming) and advising on rectification and remedial steps, among others. We assisted our client throughout the investigation, and advised on the rectification and the remedial steps in preparing and filing the self-reporting notification which resulted in no further action being brought against our client.
- Advising a multinational insurer on queries from the IA relating to sales process.
- Advising a global insurer about Insurance Authority’s queries on late notification of controllers including queries on insurer’s control processes.
- Advising insurers and insurance brokers on compliance issues relating to sale process involving use of trusts and overseas clients.
- Advising large financial institution on acquisition of insurance broker including application process and conflict of interest issues.
- Advising and reviewing various insurance policies including professional indemnity, Directors & Officers’ liability, property and reinsurance contracts.
- Reviewing and developing various life insurance products including critical illness, annuity and VHIS flexi plans.
- Acting for international insurer to obtain insurance authorisation in Hong Kong.
- Advising on insurance issues in relation to tenders for insurance services which are required to be compliant with the World Trade Organization Government Procurement Agreement.
- Advising on insurance issues in relation to large commercial development including reviewing and revising insurance related clauses in construction contract and related lease.
- Review tied insurance agents agreements, brokerage agreements and advising on related compliance and regulatory issues including insurance intermediary licensing regime and referral activities.
- Advising on insurtech projects involving online sale of travel insurance via app and online sale of life insurance products.
- Advising private banks on assignment of life insurance as collateral including issues on assignability, insurable interest and statutory trusts.
- Acting for provider of medical claims management and other services in relation to service agreements, regional framework agreements and advising on various regulatory and compliance issues.
- Advising on coverage issues and acting as defence counsel on a number of professional indemnity claims including solicitors, auditors, engineers and interior designers in Hong Kong, Australia and New Zealand.
- Acting as defence counsel on various management liability and employer’s liability claims including discrimination, harassment, defamation.
- Acting as defence counsel in SFC litigation against directors of listed Chinese company in relation to failure to disclose connected transaction.
University of Auckland, LLB, with Honours
University of Auckland, Bachelor of Commerce
- Hong Kong
- Australia, New South Wales
- New Zealand
- Recognised Practitioner - Insurance: Contentious (International Firms), China – Chambers Asia Pacific (2020)
- "Jenny Yu is very hard working." – The Legal 500 Asia Pacific (2023)