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Reinsurance Law: An Analytic Approach

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Reinsurance Law: An Analytic Approach book covers all aspects of the field, large and small, from the varieties and uses of reinsurance to complex matters of law, markets, and regulation.

For lawyers and insurance professionals, understanding the special vocabulary and methods of reinsurance law is essential. Reinsurance Law: An Analytic Approach covers all aspects of the field, large and small, from the varieties and uses of reinsurance to complex matters of law, markets and regulation.

Topics covered include: types of reinsurance contracts (facultative, treaty, proportional, non-proportional, and others); property and casualty reinsurance; life and health reinsurance; the convergence of reinsurance and finance; U.S. and overseas reinsurance markets; the role and liability of reinsurance brokers; common provisions in reinsurance contracts; reporting requirements; claims of privilege; grounds for disputing coverage; allocation of claims, including the follow-the-fortunes doctrine; rescission; managing general agents, managing general underwriters and pools; litigation; and insolvency of the insurer or reinsurer.

This unique guide features detailed discussion of the drafting and documentation of reinsurance contracts, a step-by-step guide to arbitration, and other useful resources for practitioners.

Book #00701; looseleaf, one volume, approximately 462 pages; published in 2009, updated as needed; no additional charge for updates during your subscription. Looseleaf print subscribers receive supplements. The online edition is updated automatically. ISBN: 978-1-58852-163-7

A combo subscription for the year includes 1 single user online subscription, and 1 copy of all print releases during that year.

Additional Information
SKU 701ONL
Division Name LJP
Volumes 1
Product Types Books
Brand LJP
Jurisdiction National
ISBN 978-1-58852-163-7
Page Count 0
Edition 0
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CHAPTER 1
The Nature of Reinsurance

§ 1.01 Overview
§ 1.02 Reinsurance Defined
§ 1.03 Types of Reinsurance
[1] Facultative vs. Treaty
[2] Proportional vs. Nonproportional
[3] Traditional Reinsurance vs. Finite Risk
[4] Retrocessional Reinsurance
[5] Assumption Reinsurance
§ 1.04 Parties to a Reinsurance Contract

CHAPTER 2
The Uses of Reinsurance

§ 2.01 Overview
§ 2.02 Effects of Reinsurance
[1] Risk Spreading
[2] Result Smoothing
[3] Increasing Capacity
[4] Balance Sheet Treatment
§ 2.03 Reinsurance in Different Lines of Business
[1] Property/Casualty
[2] Life/Heath
§ 2.04 The Convergence Between Reinsurance and Finance
[1] Financial Guaranty Insurance
[2] Film Financing
[3] Insurance-Linked Securities
[4] “Sidecars”

CHAPTER 3
Basic Reinsurance Regulation

§ 3.01 Overview
§ 3.02 The Insurance Regulatory System
[1] Evolution of the System
[2] State Insurance Departments
[3] The NAIC
[4] Federal Inroads
[5] International Inroads
§ 3.03 The Purpose of Insurance/Reinsurance Regulation
[1] In General
[2] The Role of Reinsurance
§ 3.04 Reinsurance Regulatory Issues
[1] Credit for Reinsurance: Theory
[2] Credit for Reinsurance: Requirements

CHAPTER 4
Reinsurance Markets

§ 4.01 Overview
§ 4.02 Types of Reinsurers
[1] Professional Reinsurers vs. Reinsurance Departments
[2] Broker Markets vs. Direct Markets
§ 4.03 Geographic Markets
[1] The U.S. Market
[2] The London Market
[3] Bermuda
[4] Europe and Beyond

CHAPTER 5
Formation of Reinsurance Contracts

§ 5.01 Overview
§ 5.02 Disclosure Requirements
[1] The Duty of Utmost Good Faith
[2] Complying With the Duty of Utmost Good Faith
§ 5.03 The Role of Brokers in the Placement of Reinsurance Contracts
[1] In General
[2] Agency Issues Relating to Brokers
[3] Broker Liability
§ 5.04 Lead and Following Reinsurers
§ 5.05 Contract Documentation
[1] Slips
[2] Wordings
[3] Interests and Liabilities Contracts
[4] Facultative Certificates

CHAPTER 6
Reinsurance Contract Provisions

§ 6.01 Overview
§ 6.02  Provisions Common to Treaties and Facultative Certificates
[1] Basis of Reinsurance: The Reinsuring Clause
[2] Premium
[3] Limits
[4] Other Reinsurance
[5] Loss Provisions
[6] Follow-the-Settlements and Follow-the-Fortunes Provisions
[7] The Right to Associate
[8] Access to Records
[9] Errors and Omissions
[10] Security Requirements
[11] Insolvency Clauses
[12] Intermediary Clauses
§ 6.03 Treaty Provisions
[1] Identification of Cedent
[2] Business Covered
[3] Basis of Coverage
[4] Exclusions
[5] Commencement and Termination
[6] Reinstatement Provisions
[7] “Deemer” Clauses
§ 6.04 Facultative Certificate Provisions
[1] The Certificate
[2] Declarations
[3] General Contract Terms

CHAPTER 7
Termination of Reinsurance Contracts

§ 7.01 Overview
§ 7.02 Contractual Termination Provisions
[1] Term vs. Continuous Contracts
[2] Basis of Termination
[3] Special Termination Clauses
[4] Sunset Clauses and Commutation Clauses
§ 7.03 Commutations
[1] Commutations Defined
[2] Drafting Problems
[3] Cession of Commutation Payments

CHAPTER 8
Reinsurance Contract Administration

§ 8.01 Overview
§ 8.02 Reporting by the Cedent
[1] The Need for Reporting
[2] Types of Reporting
§ 8.03 The Role of the Broker
§ 8.04 Access to the Cedent’s Records
[1] Contract Provisions
[2] Underwriting Audits
[3] Claim Audits
[4] Limits on Access
§ 8.05 Implications of Access
[1] Does Disclosure to a Reinsurer Waive Privilege?
[2] Are Reinsurers Entitled to Privileged Information?

CHAPTER 9
Reinsurance Claim Issues

§ 9.01 Overview
§ 9.02 The Follow-the-Fortunes/Follow-the-Settlements Doctrine
[1] The History and Nature of the Doctrine
[2] Application of the Doctrine
§ 9.03 Reinsurance Contract Issues
[1] Extracontractual Obligations and Excess of Policy Limits Judgments
[2] Declaratory Judgment Expenses
§ 9.04 Late Notice
[1] The Prejudice Requirement
[2] Notice as a Condition Precedent
[3] Bad Faith

CHAPTER 10
Allocation of Claims

§ 10.01 Overview
§ 10.02 The Allocation Problem
§ 10.03 Policy-Level Allocation Issues
[1] Trigger of Coverage
[2] Allocation to Triggered Policy Periods
[3] Allocation to Primary and Excess Layers
[4] Number of Occurrences
§ 10.04 Reinsurance Allocation Issues
[1] In General
[2] The Impact of the Reinsurance Contract
[3] Application of Follow-the-Fortunes/Follow-the-Settlements

CHAPTER 11
Rescission of Reinsurance Contracts

§ 11.01 Overview
§ 11.02 The Duty of Utmost Good Faith
[1] Origins of the Duty of Utmost Good Faith
[2] The Continuing Relevance of the Duty of Utmost Good Faith
[3] Obligations Imposed by Utmost Good Faith
[4] Remedies for Violation of the Duty of Utmost Good Faith
§ 11.03 Rescission Based on Misrepresentation or Nondisclosure
[1] Misrepresentation or Nondisclosure
[2] Materiality
[3] Reliance
[4] Is Intent Required?
§ 11.04 Other Grounds for Rescission
§ 11.05 Defenses to Rescission

CHAPTER 12
Managing General Agents, Managing General Underwriters
Steven C. Schwartz
Mr. Schwartz is a partner at Chaffetz Lindsey LLP in New York, where he focuses on reinsurance litigation and arbitration. Since the early 1990s, Mr. Schwartz has represented major insurance and reinsurance companies in disputes involving virtually all aspects of the business. He was educated at Princeton University, where he received his A.B., cum laude, in 1981; and at Columbia Law School, where he was a Harlan Fiske Stone Scholar, and received his J.D. in 1984.

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