Reinsurance Contract Wordings

This course looks at the purposes of the clauses in a typical reinsurance treaty wording and explores the effects of the clauses.

Duration

1 day

About the course

This course looks at the purposes of the clauses in a typical reinsurance treaty wording and explores the effects of the clauses.

Who should attend?

This course is relevant to all types of reinsurance claims and placing practitioners. The course is designed for people who understand the concepts of reinsurance and the covers that are available who would like an in depth knowledge of the clauses that play a major part in claims and placing negotiation.

Workshop Content

Law and Jurisdictional Issues

  • contract overview
  • the legal position of the treaty contract v slip
  • the impact of law and jurisdiction
  • what should a 'typical' non-marine wording include?
  • a review of the content of a 'typical' contract wording
  • how a loss date falls within a policy period for different policy types i.e. losses occurring during, loss discovery date, claims made, risk attaching, interlocking
  • core clauses - what issues do they raise and how do they operate?
  • interest – class of business – coverage
  • extended expiration

Exclusions

  • reinsuring clause – occurrence, cause, loss
  • definitions – risk, event
  • reinstatement
  • runoff provisions/portfolios
  • terminations – security downgrade
  • offset
  • cut through clauses
  • ADR
  • arbitration
  • currency provisions
  • claims notification – PLA – Cash loss
  • inspection of records
  • errors and omissions
  • sunset clause

Find Out More

Call us on 0117 959 4135 or leave your details below and we'll contact you shortly.
Course Information

Related Courses