We use cookies to improve your website experience. To learn about our use of cookies and how you can manage your cookie settings, please see our Cookie Policy. By continuing to use the website, you consent to our use of cookies. Close


A Guide to Reinsurance Law

4 TERMS OF REINSURANCE AGREEMENTS EXPRESS AND IMPLIED TERMS IN REINSURANCE AGREEMENTS Express terms The terms of a reinsurance agreement depend upon its nature. A reinsurance treaty may be a lengthy and complex document or it may be relatively short. It is to a large extent administrative, setting out the method of calculating losses and premiums and the information to be provided by the reinsured to the reinsurers at various times. It will also usually contain some provision authorising the reinsurers to inspect the reinsured’s books and records. A facultative reinsurance agreement made in the London market is likely to be a very short document—often expressed as a “slip policy” (see Chapter 2)—which incorporates at least some of the terms of the direct policy by means of the “full reinsurance” clause (one version of which is “warranted same gross rate, terms and conditions as original and to follow the settlements”), and which lays down terms for the regulation of claims.

The rest of this document is only available to i-law.com online subscribers.

If you are already a subscriber, please enter your details below to log in.

Enter your email address to log in as a user on your corporate account.
Remember me on this computer

Not yet an i-law subscriber?


Request a trial Find out more