The Law of Reinsurance

Author: Colin Edelman; Andrew Burns; David Craig; Akash Nawbatt
Publisher: Oxford University Press
ISBN: 9780199268931
Published In: March 2005
Format: Hardback , 204 pages
Jurisdiction: U.K. ? Disclaimer:
Countri(es) stated herein are used as reference only

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Description
Contents
Author

Details

Written by an expert practitioner writing team led by a respected QC: a guarantee for trustworthy and detailed coverage
Clearly set out structure with succinct paragraphs and frequent headings
The only work that is truly focused on reinsurance for the reinsurance specialist

Written by a team of specialists in the field, this new book is a must have for all those dealing with reinsurance law matters. It fills the gap for a much needed specialist text on reinsurance that is both practical and authoritative, and avoids discussion of general insurance matters which are covered elsewhere.

This is a fully discursive text that states the position under the current law and applies it to practice. Every aspect of reinsurance law practice is covered beginning with an investigation of the definition, purpose and types of reinsurance. Guidance is given on contractual principles and terms in the reinsurance context, obligations, rights and liabilities of the reinsurer, and the choice of law.

Readership: Reinsurance practitioners (particularly lawyers, insurers and reinsurers, and claims handlers); law libraries; students.

1: Functions, Definitions, and Types of Reinsurance
Historical background
The Functions of Reinsurance
Fronting
Retrocession
A Legal Definition of Reinsurance
Types and Methods of Reinsurance
Proportional Reinsurance
Non-proportional Reinsurance
Facultative and Treaty Reinsurance
Facultative reinsurance
Treaty Reinsurance
Proportional Treaty Reinsurance
Non Proportional Treaties
A Hybrid Method of Reinsurance - Facultative Obligatory
2: The Formation of the Reinsurance Contract
Elements of a Contract
Slips and Policies
Formation of Treaties
Writing Reinsurance at Lloyds
Brokers and Intermediaries
3: The Reinsurance Contract - Construction and Terms
Construction of Reinsurance Contracts
Incorporation
Implied terms
4: Obligations of the reinsurer
Reinsurer's obligation to indemnify the reinsured
Obligation to follow any judgment entered against the reinsured
Loss Settlements Clauses
Follow the settlements
"Pay as may be paid thereon" / "Pay as may be paid thereon and to follow their settlements"
Follow the Fortunes
Diminution in the loss
Aggregation
Losses Discovered or Claims Made Clause
Aggregate Extension Clauses
Limitation: When does the reinsurer's liability to indemnify its reinsured arise?
5: Rights of the Reinsurer
Payment of premium
Claims Co-operation Clause / Claims Control Clause
Inspection of Reinsured's Records
Declaratory Relief
Subrogation
6: Denying Liability
Non-disclosure and misrepresentation
Elements of the Duty of Utmost Good Faith
Breach of the Duty of Utmost Good Faith
Conditions and warranties
Conditions
Notification
Limitation
7: Applicable Law and Jurisdiction
Applicable Law
Jurisdiction

Colin Edelman QC, Barrister, Devereux Chambers, Andrew Burns, Barrister, Devereux Chambers, David Craig, Barrister, Devereux Chambers, and Akash Nawbatt, Barrister, Devereux Chambers