Reinsurance Contracts - A Review of the Key Issues

Introduction

The meaning and operation of reinsurance contracts has come under increased scrutiny recently with the pandemic, increasing natural catastrophes, war, widespread political instability and the rapid growth of cyber-attacks.

This webinar will consider the most recent cases of interest to those involved in reinsurance including the Court of Appeal’s decision in Unipol v. Covea [2024] on the meaning of ‘catastrophe’ and the operation of the ‘hours clause’ in the context of excess of loss reinsurance.

The webinar will also review the different reinsurance structures and consider some of the areas of potential dispute.

What You Will Learn

This webinar will cover the following:

• When losses occur for reinsurance purposes and the notification of insurance losses
• Claims control and claims cooperation clauses
• Follow the settlements clauses
• Late payment of claims and liability for damages
• Different bases of aggregation including event or occurrence; originating cause; catastrophe and the hours clause
• The Court of Appeal’s recent decision in Unipol v. Covea
• Proof of loss
• Triggers of cover and Original Loss Warranty/ILW contracts
• Potential difficulties with governing law and dispute resolution clauses