The Law of Reinsurance in England and Bermuda 6th ed (eBook)

Navigate the complexities of reinsurance law in England and Bermuda with The Law of Reinsurance. This title covers the fundamental principles of reinsurance contract formation and regulation to equip you with the guidance you need to identify and resolve any challenges.

Beyond the contract, this work also explores relevant areas of agency law to provide a clear understanding of the roles and responsibilities that agents hold in the reinsurance market. It offers detailed insights into intermediaries and their duties to help you advise with confidence. And when disputes do arise, it provides comprehensive guidance on the correct process and procedure for litigation and arbitration.

In a notoriously complex field, this title serves as a crucial resource for trans-Atlantic reinsurance law and practice.

Features:

• Covers the distinct areas of reinsurance contracts, disputes and regulation.
• Looks at the legal definition of reinsurance and outlines basic concepts and terminology.
• Examines the principles of reinsurance contract law and the nature and purpose of reinsurance transactions.
• Explains the formation of reinsurance contracts and principles such as offer and acceptance, consideration, variation and termination.
• Addresses the interpretation of reinsurance contracts and their relationship with original insurance contracts.
• Discusses market practice in Bermuda and The Bermuda Form.
• Detailed coverage of the reinsurer’s obligation to pay claims looking at liability, coverage, reinsurer’s rights and “follow the settlements” clauses.
• Outlines defences to deny liability such as non-disclosure, misrepresentation and warranties.
• Covers financial reinsurance and alternative risk transfer, with additional sections on mortality and longevity risks and insurance-linked securities.
• Goes through the principles of the law of agency and the legal duty of intermediaries, including the law on attribution of knowledge.
• Explains reinsurance disputes and conflict of laws.
• Includes litigation and arbitration procedural issues, comparing Bermuda arbitration law and the UNCITRAL Model Law.
• Analyses insolvency provisions for reinsurance companies.

This edition has new commentary on:

• Post-Brexit regulatory reforms, choice of law regime and jurisdiction regimes
• The UK Arbitration Bill and its impact on reinsurance disputes
• Covid-related and geopolitical conflict-related (re)insurance case law, including cases on causation, aggregation, the meaning of ‘catastrophe’, and jurisdiction
• Digitalisation in the London market
• Changes to existing UK insurers insolvency arrangements and the proposals for the UK Insurer Resolution Regime
• Comparative analysis in relation to the Principles of Reinsurance Contract Law (PRICL)
• Legal updates from the Bermuda market