This course looks at the purposes of the clauses in a typical reinsurance treaty wording and explores the effects of the clauses.
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.
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
- reinsuring clause – occurrence, cause, loss
- definitions – risk, event
- runoff provisions/portfolios
- terminations – security downgrade
- cut through clauses
- currency provisions
- claims notification – PLA – Cash loss
- inspection of records
- errors and omissions
- sunset clause