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This book is now Out of Print.
A new edition has been published, the details can be seen here:
The Law of Reinsurance in England and Bermuda 5th ed with 1st Supplement isbn 9780414101999

The Law of Reinsurance in England and Bermuda 5th ed


ISBN13: 9780414068179
New Edition ISBN: 9780414101999
Previous Edition ISBN: 9780414052024
Published: April 2019
Publisher: Sweet & Maxwell Ltd
Country of Publication: UK
Format: Hardback
Price: Out of print




Also available as
£430.00

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. It is relied upon as comprehensive and trusted text that continues to clarify a complex area of law.

The 5th edition of The Law of Reinsurance has undergone a major revision:

  • Chapter 3 addresses another attempt by the Supreme Court to restate the law on the interpretation of contracts.
  • The discussion on good faith, the duty of fair presentation, warranties and other terms in Chapter 6 has been revised as an integrated commentary of the Insurance Act 2015 (for England) and the pre-Insurance Act 2015 (for Bermuda).
  • Chapter 8 has been updated with sections on mortality and longevity risks and insurance linked securities.
  • Chapter 9 has been extensively re-written to restate the law on attribution of knowledge and ex turpi causa and its impact on the rights of (re)insurers and third parties.
  • Chapter 14 on reinsurance arbitration looks at new developments concerning the appointment of arbitrators and their duties of independence and confidentiality.
  • Chapter 15 includes forecasts about the regulatory regime post-Brexit.
This book continues to provide the most comprehensive guidance on reinsurance law and practice in England and Bermuda:
  • 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.

Subjects:
Insurance Law
Contents:
PART I: The Nature of Reinsurance Transactions
1) Nature Terminology and Definition of Reinsurance
2) Introduction to the Reinsurance Market

PART II: General Principles of Reinsurance Contract Law
3) Formation of the Reinsurance Contract
4) The Relationship Between the Reinsurance Contract and Original Insurance Contracts
5) The Reinsurer’s Obligation to Pay Claims
6) The Reinsurer’s Grounds for Denying Liability
7) Some Legal Aspects of Particular Types of Reinsurance Contract
8) Financial Reinsurance and Alternative Risk Transfer

PART III: Reinsurance Intermediaries and the Law of Agency
9) The Legal Nature and Duties and of Intermediaries
10) Binding Authorities, Underwriting Agents and Pools
11) Reinsurance Intermediaries’ (Brokers’) Accounts – Theory, Practice and Law

PART IV: Reinsurance Disputes and the Conflict of Laws
12) Choice of Law in Reinsurance Transactions
13) Reinsurance Litigation
14) Reinsurance Arbitration

PART V: Reinsurance Regulation and Insolvency
15) Solvency, Regulation, and Protection of the Reinsured’s Security
16) Reinsurance Run-Offs and the Prospect of Insolvency
17) Insolvency Procedures I: Overview, Winding Up and International Recognition
18) Insolvency Procedures II: Administration, Schemes of Arrangement and Transfers of Business