Course overview
Reinsurance industry practices have changed in recent years, placing more and more emphasis and importance on reinsurance contract wordings. Attending this training course will bring you right up to date with latest developments so you can have confidence in your contracts.
It is apparent now more than ever that a contract is only an advantage if it accurately 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.
Attending this training course will bring you right up to date with the Insurance Act 2015 and the Enterprise Act 2016, and their impact on your policy wordings.
Other key topics that will be covered include:
- Issues, options and effective drafting of follow wordings
- Drafting wide or narrow clauses for settlements
- Dealing with commutations
- Notice, information and claims control clauses
- Common mistakes to avoid during drafting
- Property and casualty clauses
- Aggregation
- Dispute resolution and the implications of wordings
This training course focuses on the advanced, up-to-the-minute issues and gives you the opportunity to ask your questions to the expert trainers.
CPD Hours: 6
Course Content
- Day 1
- 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
Speakers
Simon Cooper
Simon is a consultant in the Global Speciality & Financial Risks team at DWF Law LLP. He has more than 35 years’ experience of advising clients in the London and international insurance and reinsurance markets and has extensive experience of acting in large scale disputes in England and Internationally. Simon also has comprehensive experience of mediation and other forms of Alternative Dispute Resolution.Simon is a member of the IUA Clauses Subcommittee and past secretary of the International Bar Association's insurance committee. He edited the second edition of ‘Reinsurance Practice & the Law’ and writes and lectures frequently on legal issues. He is the current Lloyd's Members Ombudsman
Duncan Strachan
Duncan Strachan is a Partner at DAC Beachcroft LLP. He
specialises in complex and international (re)insurance matters across
multiple lines of business. His current caseload advising on major
energy losses in Ecuador, Peru and Colombia;
monitoring US securities class action suits against non-US entities;
and advising on exposure to climate change litigation. Duncan’s focus
is on international disputes and policy coverage analysis, with
particular expertise in Latin America and the Caribbean,
due to his familiarity with the legal and political landscape across
the region. Duncan is also fluent in Spanish and regularly presents to
insurers and reinsurers across the world.
Phillippa Rowe
Phillippa Rowe, senior partner of independent reinsurance consultants Phillippa Ross & Co., has over 30 years experience of insurance and reinsurance claims in Lloyd’s and the London market and internationally. She began her reinsurance career with 15 years with the Kiln group at Lloyd’s. She currently acts as arbitrator, mediator, expert witness and technical consultant in a wide range of claims, wordings and market practice matters and writes, lectures and provides training courses on similar subjects.
