publication . Thesis . 2009

Facultative reinsurance and the full reinsurance clause

Gurses, Ozlem;
Open Access English
  • Published: 01 Jul 2009
  • Publisher: University of Southampton
  • Country: United Kingdom
Abstract
The Full Reinsurance clause by which a reinsurer agrees to be bound by the same terms and conditions as the original policy and commits to follow the reinsured’s settlements is widely used in London Market facultative reinsurance contracts. In most disputes the outcome depends upon resolving the fundamental question of whether reinsurance is either a further insurance on the subject matter insured or is a reinsurance of the liability of the reinsured under the direct policy. The interpretation of the clause had not been settled until the recent House of Lords decision on Wasa International Insurance Co Ltd v Lexington Insurance Co [2009] UKHL 40 where their Lord...
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Thesis . 2009
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