Reinsurance industry practices have changed in recent years, placing more and more emphasis and importance on reinsurance contract wordings. It is more apparent that a contract is only an advantage if it exactly reflects what the underwriter intended and the insured expected. If companies want to avoid lengthy and expensive disputes, they must develop clear and thorough reinsurance agreements and avoid frequent and small nuances that can land reinsurance companies in trouble.
This seminar focuses on the more advanced, up-to-the-minute issues.
Benefits of attending
- Get up-to-date with the latest developments in applicable law
- Understand the impact of the Insurance Act 2015 and the Enterprise Act 2016 on your policy wording
- Hear about the role of notice, information and claims control/cooperation clauses
- Grasp and learn to avoid the common mistakes in drafting watertight reinsurance clauses
- Master the latest developments in property and casualty clauses
- Gain knowledge of the regulatory considerations when launching a new product
- Understand the implications of recent judgments involving follow clauses
- Learn how to be prepared for reinsurance disputes and how to deal with them when they arise
Certifications
- CPD: 6 hours for your records
- Certificate of completion
Course Content
Follow wordings - issues, options and effective drafting
The Insurance Act 2015 and the Enterprise Act 2016 - case update and how they impact your policy wording
Notice, information and claims control/cooperation clauses
Drafting watertight reinsurance clauses: some common mistakes
Developments in property and casualty clauses
Aggregation
Regulatory considerations when launching a new product
Being prepared for reinsurance disputes: Wordings and their role in dispute resolution
Who Should Attend
This course is applicable for anyone who is involved in the drafting or implementation of reinsurance wordings or who deal with reinsurance disputes, including:
- Wordings technicians
- Reinsurance technicians
- Claims managers and underwriters
- Wordings specialists
- In-house lawyers
- Lawyers in private practice
