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Falconbury

Advanced Reinsurance Contracts and Disputes Masterclass Training Course

An intensive one-day programme that focusses on the latest legal developments, advanced drafting skills and disputes best practice, as well as up-to-the-minute issues that will ensure watertight reinsurance contracts.

11 June 2024
+ 2 October 2024 »
from £499

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Format: Live online
CPD: 6 hours for your records
Certificate of completion

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Course overview

Reinsurance industry practices have changed in recent years, placing more and more emphasis and importance on reinsurance contract wordings. It is more apparent that a contract is only an advantage if it exactly reflects what the underwriter intended and the insured expected. If companies want to avoid lengthy and expensive disputes, they must develop clear and thorough reinsurance agreements and avoid frequent and small nuances that can land reinsurance companies in trouble.

This seminar focuses on the more advanced, up-to-the-minute issues.

This training course is part of our Insurance & Reinsurance Contracts Training Courses collection which covers up to the minute issues and the latest legal developments.

Who should attend?

Wordings technicians
Reinsurance technicians
Claims managers and underwriters
Wordings specialists
In-house lawyers
Lawyers in private practice
Anyone who is involved in the drafting or implementation of reinsurance wordings or who deal with reinsurance disputes

Benefits of attending

Get up-to-date with the latest developments in applicable law
Understand the impact of the Insurance Act 2015 and the Enterprise Act 2016 on your policy wordings
Hear about the role of notice, information and claims control/cooperation clauses
Grasp and learn to avoid the common mistakes in drafting watertight reinsurance clauses
Master the latest developments in property and casualty clauses
Gain knowledge of the regulatory considerations when launching a new product
Understand the implications of recent judgments involving follow clauses
Learn how to be prepared for reinsurance disputes and how to deal with them when they arise

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The Advanced Reinsurance Contracts and Disputes Masterclass course will cover:

Follow wordings – issues, options and effective drafting

Arbitration awards, and English/foreign judgments
Settlements – how to draft wide or narrow clauses
“Without prejudice” and “ex-gratia” settlements
Businesslike steps and the burden of proof
Dealing with commutations

The Insurance Act 2015 and the Enterprise Act 2016 – case update and how they impact your policy wording

The legal nature of warranties (sections 9 and 10)
The effect of section 11
How to draft around section 11(3) – terms defining the risk
Fair Presentation – new rules and wording tweaks
Section 13A, damages for late payment of claims; key drafting issues for reinsurers
Contracting out and the transparency requirements

Notice, information and claims control/cooperation clauses

Purpose
Reporting and notice clauses – “immediate’, “as soon as practicable” notice
Conditions precedent
Access to records clauses
Late notice issues
Confidentiality

Drafting watertight reinsurance clauses: some common mistakes

Full follow clause / back-to-back presumption
Avoid incorporate
Don’t cut and paste
Check for internal consistency between clauses
Put all the clauses in the right places in the document
Use clear language
Make sure definitions are relevant to all uses
Don’t use the same words in different senses
Don’t rely on the courts to imply terms

Developments in property and casualty clauses

Wording issues for emerging and developing markets
Clauses broadening cedants’ rights
Additional observations and developments

Aggregation

Drafting for the correct breadth of aggregating factor (“loss”, “occurrence”, “series”, “event”, “catastrophe”, “originating cause”)
Hours clauses
Considering drafting issues in context of recent catastrophes including Covid-19
Practical tips

Regulatory considerations when launching a new product

Why is regulatory compliance important?
Why is regulatory risk higher for new products?
The impact of insurance regulation on the structure, content and sale of new products
How do you create a compliant MVP?
What are the risks of working with other business partners/distribution partners?

Being prepared for reinsurance disputes: Wordings and their role in dispute resolution

Governing law and jurisdiction
Arbitration
Mediation (and med/arb)
Selection of panel members
Disclosure and evidentiary matters
Settlement agreements and commutations (including IBNR)

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Simon Cooper
Ince & Co

Simon Cooper is a Consultant at Ince & Co LLP. He has experience of advising clients in the London and international insurance and reinsurance markets and has extensive experience of acting in large scale disputes in the English Commercial Court and appellate Courts, in ad hoc arbitrations and in overseas jurisdictions. Many of these disputes have involved multiple parties and complex issues of fact and law. Simon also has comprehensive experience of mediation and other forms of Alternative Dispute Resolution. Simon’s practice focuses on reinsurance, financial lines and professional indemnity business but has included most areas of non-marine business.

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Duncan Strachan
DAC Beachcroft

Duncan Strachan is a Partner at DAC Beachcroft LLP. He specialises in complex and international (re)insurance matters across multiple lines of business. His current caseload advising on major energy losses in Ecuador, Peru and Colombia; monitoring US securities class action suits against non-US entities; and advising on exposure to climate change litigation. Duncan’s focus is on international disputes and policy coverage analysis, with particular expertise in Latin America and the Caribbean, due to his familiarity with the legal and political landscape across the region. Duncan is also fluent in Spanish and regularly presents to insurers and reinsurers across the world.

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Sherry Goodman-Smith
DAC Beechcroft

Sherry Goodman-Smith is a specialist in complex insurance and reinsurance policy coverage disputes. She joined DAC Beachcroft's Global Insurance practice as a partner, based in London, in 2021.

Sherry spent the previous eight years at Simmons & Simmons, most recently as Of Counsel. There she advised London market insurers and reinsurers on large-scale coverage issues, with a particular focus on product liability and recall, international casualty and complex property claims. She has also advised on coverage issues arising from more niche insurance policy wordings, including kidnap and ransom, intellectual property liability, and fine art claims.

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Phillippa Rowe
Phillippa Ross & Co

Phillippa Rowe, senior partner of independent reinsurance consultants Phillippa Ross & Co., has over 30 years experience of insurance and reinsurance claims in Lloyd’s and the London market and internationally. She began her reinsurance career with 15 years with the Kiln group at Lloyd’s. She currently acts as arbitrator, mediator, expert witness and technical consultant in a wide range of claims, wordings and market practice matters and writes, lectures and provides training courses on similar subjects.

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NEW higher discounts for multiple bookings - bring your colleagues to make your training budget go further:

30% off the 2nd delegate*
40% off the 3rd delegate*
50% off the 4th delegate*

Please contact us for pricing if you are interested in booking 5 or more delegates

11 June 2024

Live online

09:15-17:15 UK (London) (UTC+01)
10:15-18:15 Paris (UTC+02)
04:15-12:15 New York (UTC-04)
Course code 14130

GBP 499 599
EUR 719 859
USD 823 979

Until 07 May

1 day live online training
Browser-based, no download usually required
See presenters and interact with fellow attendees
Download documentation and certification of completion
Fair transfer and cancellation policy

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Not ready to book yet?

for 7 days, no obligation

2 October 2024

Live online

09:15-17:15 UK (London) (UTC+01)
10:15-18:15 Paris (UTC+02)
04:15-12:15 New York (UTC-04)
Course code 13966

GBP 499 599
EUR 719 859
USD 823 979

Until 28 Aug

1 day live online training
Browser-based, no download usually required
See presenters and interact with fellow attendees
Download documentation and certification of completion
Fair transfer and cancellation policy

View basket

Not ready to book yet?

for 7 days, no obligation

* Early booking discounts may not be combined with other discounts or offers. As such, the discounts for 2nd/3rd/4th delegates are based on the full price; and apply only when booking multiple delegates on the same date.