United States:
In Search For Clarity: U.S. Court Decisions On Whether To Imply Follow -the-Fortunes And Follow-the-Settlements Principles Into Reinsurance Contracts
26 May 2023
Foley & Lardner
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Undoubtedly, reinsurance practitioners learn early on certain
fundamental principles and customary practices that define
reinsurance. For many, Robert W. Strain, Reinsurance (6th
ed. 1997) was required reading to try to understand what
reinsurance is and isn't (such as, for example,
"reassurance"). Small wonder: the Strain treatise's
essays were written by, edited, and reviewed by "a veritable
WHO's WHO in the reinsurance business," and recommended by
their peers, "whose know-ledge, experience, and judgment . . .
was, for the most part, from a life's work." In other
words, Strain captures the principles and customs of the industry
as well as anyone.
This story was published in ARIAS U.S. Quarterly. To download
the publication, click here.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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