The Law of Reinsurance has established itself as the definitive guide on reinsurance law and practice in England and Bermuda. This title not only addresses the core principles of reinsurance contracts and regulation but also relevant areas of agency law and dispute resolution procedure.
This first supplement brings the fifth edition up to date with the most significant reinsurance case law decisions and legislative developments across England and Bermuda. It is relied upon as a comprehensive and trusted text that continues to clarify a complex area of law.
- Covers the distinct areas of reinsurance contracts, disputes and regulation.
- Looks at the legal definition of reinsurance and outlines basic concepts and terminology.
- Examines the nature and purpose of reinsurance transactions.
- Explains the formation of reinsurance contracts and general principles such as offer and acceptance, consideration, variation and termination.
- Addresses the interpretation of reinsurance contracts and their relationship with original insurance contracts.
- Discusses market practice in Bermuda and The Bermuda Form.
- Detailed coverage of the reinsurer’s obligation to pay claims looking at liability, coverage, reinsurer’s rights and “follow the settlements” clauses.
- Outlines defences to deny liability such as non-disclosure, misrepresentation and warranties.
- Covers financial reinsurance and alternative risk transfer.
- Goes through the principles of the law of agency and the legal duty of intermediaries.
- Explains reinsurance disputes and conflict of laws.
- Includes litigation and arbitration procedural issues, comparing Bermuda arbitration law and the UNCITRAL Model Law.
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