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Reinsurance Practice and the Law

Chapter 16 INCORPORATION OF TERMS INTRODUCTION 16.1 The practice of using incorporation clauses to introduce terms of the original direct cover into reinsurance contracts originated during the last century when reinsurance largely consisted of facultative cover placed on individual risks. It was based on the assumption that the terms of the reinsurance mirrored those of the underlying cover (or, in the phrase commonly used in the market, that the reinsurance was “back to back” with the original policy).

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