In reinsurance contracts, it is quite common practice for the wordings, which define the obligations of the parties, to be neglected. This results in the contract being unclear about the relationship between the reinsured and the reinsurer. Unfortunately, issues such as these often cause problems between the parties in later years and can lead to costly disputes. During this training seminar all the important issues which need to be taken into consideration at the contract negotiation and drafting phase will be highlighted.
An introduction to reinsurance contract wordings
Reinsurance contract wordings in practice
An overview of the clauses needed in reinsurance contracts
The interpretation of contract wordings
A practical interactive workshop focusing on reinsurance contract wordings and their interpretation.
Follow the settlement and follow the fortunes, and ex gratia
Loss of reinsurer’s rights – including updates under the Insurance Act 2015
Access to records clauses and confidentiality
The concept of contract certainty
Claims control and claims cooperation clauses
A moderated mock mediation of a reinsurance dispute based on a scenario to be provided to delegates
The impact of the Insurance Act 2015 on reinsurance contract wordings
This course qualifies for the following CPD programmes: