Advanced Reinsurance Contracts and Disputes Masterclass, 1 Day Virtual Training Course

DUBLIN, Dec. 22, 2023 /PRNewswire/ — The “Advanced Reinsurance Contracts and Disputes Masterclass Training Course” has been added to  ResearchAndMarkets.com’s offering.

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 lawUnderstand the impact of the Insurance Act 2015 and the Enterprise Act 2016 on your policy wordingHear about the role of notice, information and claims control/cooperation clausesGrasp and learn to avoid the common mistakes in drafting watertight reinsurance clausesMaster the latest developments in property and casualty clausesGain knowledge of the regulatory considerations when launching a new productUnderstand the implications of recent judgments involving follow clausesLearn how to be prepared for reinsurance disputes and how to deal with them when they arise

Course Agenda

Follow wordings – issues, options and effective drafting

Arbitration awards, and English/foreign judgmentsSettlements – how to draft wide or narrow clauses”Without prejudice” and “ex-gratia” settlementsBusinesslike steps and the burden of proofDealing with commutations

The Insurance Act 2015 and the Enterprise Act 2016 – case update and how they impact your policy wording

The legal nature of warranties (sections 9 and 10)The effect of Section 11How to draft around section 11(3) – terms defining the riskFair Presentation – new rules and wording tweaksSection 13A, damages for late payment of claims; key drafting issues for reinsurersContracting out and the transparency requirements

Notice, information and claims control/cooperation clauses

PurposeReporting and notice clauses – “immediate’, “as soon as practicable” noticeConditions precedentAccess to records clausesLate notice issuesConfidentiality

Drafting watertight reinsurance clauses: some common mistakes

Full follow clause/back-to-back presumptionAvoid incorporateDon’t cut and pasteCheck for internal consistency between clausesPut all the clauses in the right places in the documentUse clear languageMake sure definitions are relevant to all usesDon’t use the same words in different sensesDon’t rely on the courts to imply terms

Developments in property and casualty clauses

Wording issues for emerging and developing marketsClauses broadening cedants’ rightsAdditional observations and developments

Aggregation

Drafting for the correct breadth of aggregating factor (“loss”, “occurrence”, “series”, “event”, “catastrophe”, “originating cause”)Hours clausesConsidering drafting issues in the context of recent catastrophes including Covid-19Practical tips

Regulatory considerations when launching a new product

Why is regulatory compliance important?Why is regulatory risk higher for new products?The impact of insurance regulation on the structure, content and sale of new productsHow do you create a compliant MVP?What are the risks of working with other business partners/distribution partners?

Being prepared for reinsurance disputes: Wordings and their role in dispute resolution

Governing law and jurisdictionArbitrationMediation (and med/arb)Selection of panel membersDisclosure and evidentiary mattersSettlement agreements and commutations (including IBNR)

For more information about this training visit https://www.researchandmarkets.com/r/mgvzsp

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