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29 LOSS SETTLEMENT PROVISIONS

Reinsurance Practice and the Law

Chapter 29 LOSS SETTLEMENT PROVISIONS INTRODUCTION Position where no loss settlement provision 29.1 In the absence of terms in a reinsurance contract which bind the reinsurer to pay in accordance with settlements made by the reinsured under the original policy, the reinsured must prove that the reinsurer is liable to indemnify it. This principle was expressed as follows in Re London County Commercial Reinsurance Office Ltd 1 :

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