What Is Reinsurance?

In 1994 a Reinsurance Working Party was set up by AIDA (Association Internationale de Droit des Assurances) with the aim of producing a series of comparative reports considering how particular aspects of reinsurance law operate in a range of jurisdictions.;This report, the first to emanate from the Working Party's research, tackles the fundamental - yet often neglected - question of what is reinsurance?;Professor Merkin presents a concise, readable and authoritative analysis of the legal intricacies relating to reinsurance contracts.;What is reinsurance? brings together information from over 15 jurisdictions to highlight the similarities and differences in points of law between insurance and reinsurance regulation and supervision across the world.;Contents include a definition of reinsurance, the characteristics of a reinsurance contract and reinsurance as a contract, regulation of reinsurance, reinsurance brokers, good faith and disclosure, choice of law and choice of jurisdiction, regulation of contract terms, indirect taxation, insolvency, captive insurers, fronting, related contracts.;As reinsurance is such an international business it is essential that those in the market place (and also their legal and financial advisers) are aware of the discrepancies between jurisdictions if they are to manage their profits and companies to the best of their abilities.