Understanding Reinsurance Contract Language
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| Author | : Oliver D. William |
| Publisher | : Routledge |
| Total Pages | : 190 |
| Release | : 2021-01-28 |
| Genre | : Law |
| ISBN | : 1000329100 |
In excess of loss reinsurance, the reinsurer covers the amount of a loss exceeding the policy’s deductible but not piercing its cover limit. Accordingly, a policy’s quantitative scope of cover is significantly affected by the parties’ agreement of a deductible and a cover limit. Yet, the examination of whether a loss has exceeded deductible or cover limit necessitates an educated understanding of what constitutes one loss. In so-called aggregation clauses, the parties to (re-)insurance contracts regularly provide that multiple individual losses are to be added together for presenting one loss to the reinsurer when they arise from the same event, occurrence, catastrophe, cause or accident. Aggregation mechanisms are one of the core instruments for structuring reinsurance contracts. This book systematically examines each element of an aggregation mechanism, tracing the inconsistent usage of aggregation language in the markets and scrutinizing the tests developed by courts and arbitral tribunals. In doing so, it seeks to support insurers, reinsurers, brokers and lawyers in drafting aggregation clauses and in settling claims. Focusing on an analysis of primary sources, particularly judicial decisions, the book interprets each judicial decision to describe a system of inter-related rules, collating, organising and describing the English law of aggregation as applied by the courts and arbitral tribunals. It further draws a comparison between the English position and the corresponding rules in the Principles of Reinsurance Contract Law (PRICL).
| Author | : Robert W. Strain |
| Publisher | : Strain Pub |
| Total Pages | : 819 |
| Release | : 1996-02-01 |
| Genre | : Business & Economics |
| ISBN | : 9780939727483 |
| Author | : Colin Edelman QC |
| Publisher | : OUP Oxford |
| Total Pages | : 0 |
| Release | : 2013-01-10 |
| Genre | : Law |
| ISBN | : 9780199665044 |
Providing a complete analysis of the law of reinsurance this new edition gives extended consideration to complex areas, such as good faith, and issues on which there is no authority.
| Author | : Robert M. Merkin |
| Publisher | : Cavendish Publishing (UK) |
| Total Pages | : 128 |
| Release | : 1998 |
| Genre | : Business & Economics |
| ISBN | : |
In 1994 a Reinsurance Working Party was set up by AIDA (Association Internationale de Droit des Assurances) with the aim of producing a series of comparative reports considering how particular aspects of reinsurance law operate in a range of jurisdictions.
| Author | : Ozlem Gurses |
| Publisher | : Taylor & Francis |
| Total Pages | : 410 |
| Release | : 2013-07-04 |
| Genre | : Law |
| ISBN | : 1135134693 |
This book provides a comparative English/US law study of the operation of facultative reinsurance contracts. Most of the reinsurance litigation in England and the US has involved this type of contract, and there are regular arbitrations and judicial proceedings in the leading common law jurisdictions to which this book will be relevant. The book is concerned with: • The legal nature of reinsurance agreements • The means whereby terms of reinsurance policies can be derived or incorporated from underlying insurances • The effect on reinsurance of judgments, awards and settlements against the reinsured • The operation of claims provisions
| Author | : Graydon S. Staring |
| Publisher | : |
| Total Pages | : |
| Release | : |
| Genre | : Reinsurance |
| ISBN | : |
| Author | : Ross Phifer |
| Publisher | : |
| Total Pages | : 332 |
| Release | : 1996-05-02 |
| Genre | : Business & Economics |
| ISBN | : |
Reinsurance Fundamentals is a comprehensive overview of the reinsurance industry and the financial principles that guide it. It is also a penetrating study of real-world reinsurance problems and how to solve them. After an examination of the industry's underpinnings and a brief but fascinating look at its history, author Ross Phifer presents a detailed reinsurance primer. Writing for those familiar with insurance concepts, he offers an in-depth examination of how the reinsurance industry works, explains fundamental ideas, presents practical illustrations of when and how reinsurance arrangements should be considered, and describes the application of reinsurance to speculative financial transactions such as derivatives. Phifer analyzes different types of reinsurance agreements, clause by clause, and supplies thorough explanations of key concepts and their impact on the overall risk transfer. Among the topics discussed are reinsurance cessions, structures, markets, underwriting, proportional pricing, accounting, claims, and contracts. Reinsurance Fundamentals is an invaluable tool for in-house counsel, compliance officers, internal auditors, and risk managers in investment and commercial banking, securities, investment management, mutual funds, and pension fund management. It is also an important resource for corporate financial officers and an excellent reference for insurance underwriters, claims executives, risk managers, and attorneys.
| Author | : Barlow Lyde & Gilbert |
| Publisher | : Informa Law from Routledge |
| Total Pages | : 0 |
| Release | : 2009 |
| Genre | : Reinsurance |
| ISBN | : 9781843117964 |
Designed to reduce, to the absolute minimum, the legal difficulties involved in UK reinsurance transactions, this book covers all the areas of reinsurance that are likely to give rise to problems. Paying special attention to the drafting and operation of the reinsurance contract, the book also deals in detail with dispute resolution, including arbitration and commercial court practice and procedure. It provides advice on how to identify, minimize, and resolve problems that may arise with reinsurance contracts, including: a clear explanation of the basics of reinsurance contracts, including the relationships between parties and the various types of contracts the principles of drafting and interpretation of contracts, including reaching agreement, contract wordings, and choice of law the details of operating a contract, including claims handling, offset and funding, inspection of records, and transfer and termination deviation guidance on dispute resolution, including choice of l
| Author | : Melissa Samaroo |
| Publisher | : Atlantic Publishing Company |
| Total Pages | : 338 |
| Release | : 2011 |
| Genre | : Business & Economics |
| ISBN | : 1601382375 |
This handy guide is designed to assist insurance agents and consumers by explaining these complicated and confusing terms in jargon-free language. More than 2,000 complicated terms are defined in easy to understand language. No category - health, life, automobile, homeowners, renter's, or workers compensation - is overlooked. The terms are listed in alphabetical order so you can easily find what you need to know and begin to feel more confident when dealing with all matters of insurance. Atlantic Publishing is a small, independent publishing company based in Ocala, Florida. Founded over twenty years ago in the company president's garage, Atlantic Publishing has grown to become a renowned resource for non-fiction books. Today, over 450 titles are in print covering subjects such as small business, healthy living, management, finance, careers, and real estate. Atlantic Publishing prides itself on producing award winning, high-quality manuals that give readers up-to-date, pertinent information, real-world examples, and case studies with expert advice. Every book has resources, contact information, and web sites of the products or companies discussed.
| Author | : Zhen Jing |
| Publisher | : Taylor & Francis |
| Total Pages | : 992 |
| Release | : 2016-11-25 |
| Genre | : Law |
| ISBN | : 1317802543 |
Chinese Insurance Contracts: Law and Practice is the first systematic text written in English on the law of insurance in China. This book offers a critical analysis of the major principles, doctrines and concepts of insurance contract law in China. At every point the analysis discusses the principles of the Insurance Law in detail, referring where appropriate to decided cases and also drawing attention to external influences. Readers are guided through the complexities of Chinese law in a clear and comprehensive fashion, and – significantly – in a manner that is accessible and meaningful for those used to a common law system. This book presents a comprehensive picture of Chinese insurance contract law, to facilitate a wider understanding of the relevant rules of law. Elements of insurance contract law are critically examined. In addition, this book presents rules of law on some special types of insurance contract, such as life insurance, property insurance, liability insurance, motor vehicle insurance, reinsurance, and marine insurance. The deficiencies and shortcomings of the law and practice will be identified and analysed; suggestions and recommendations on how to reform the law will be presented. Chinese Insurance Contracts also offers legal and practical advice to insurance professionals on how to draft clauses to avoid contractual pitfalls. It also uses cases to illustrate the difficulties which can arise in applying the principles in practice. This book will be essential reading for insurance companies and legal practitioners looking to do business in China, as well as reference for Chinese lawyers practising insurance law. It will also be a useful resource for students and academics studying Chinese law.
