Tag archives: Reinsurance

Excess reinsurances and the applicable jurisdiction regime

The United Kingdom High Court in the judgment of 13 April 2021 granted the excess reinsurer’s UK interim anti-suit injunction in respect of the insurer/defendants’ claims in South Africa under the excess reinsurance agreements.  Those claims in the English courts to the exclusion of the South African courts will represent the bulk of the defendants’ claims … Continue reading

Insurance claims and COVID-19

If you haven’t already dusted off the business interruption, liability and event cancellation policies you have underwritten, or placed for an insured, and checked for coronavirus coverage, now is the time to do so. Exposure and benefits of both business interruption coverage (covering the insureds losses from an abrupt shutdown) and contingent business interruption coverage … Continue reading

Will we get reciprocal reinsurance arrangements?

The FSB’s Reinsurance Regulatory Review Position Paper in September 2016 sketches a reinsurance regime by which foreign reinsurers wishing to reinsure South African risks will have to register as a licensed branch in South Africa unless the foreign reinsurer is regulated by a country with an equivalent regulatory framework according to the FSB. Presumably the … Continue reading

Follow the settlements clauses

It is worth reminding ourselves about the useful findings in the UK Tokio Marine v Novae Corporate Underwriting case in 2013 regarding follow the settlements clauses: Where a retrocession by a reinsurer is expressed in general and unqualified terms it includes liability under all underlying policies. The reference to “loss occurrence” under the retrocession was construed … Continue reading

Russian sanctions could affect reinsurance

Insurers must remember that jurisdictions in which the world’s major insurers operate such as the EU, Switzerland and the USA have imposed sanctions against Russia. Russian corporations and shareholders may be named on a sanctions list which will affect the enforceability of any reinsurance of a policy where a listed person is indemnified. There are … Continue reading
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