The law of reinsurance
Author(s)
Bibliographic Information
The law of reinsurance
Oxford University Press, 2005
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Note
Includes bibliographical references and index
Description and Table of Contents
Description
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.
Table of Contents
- 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
by "Nielsen BookData"