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38 INSOLVENCY PROCEDURES AND TECHNIQUES IN REINSURANCE

Reinsurance Practice and the Law

Chapter 38 INSOLVENCY PROCEDURES AND TECHNIQUES IN REINSURANCE INTRODUCTION TO CORPORATE INSOLVENCY 38.1 This chapter will focus on problems which are specific to insurance and reinsurance insolvencies. It is not a comprehensive guide to the legal regime governing individual and corporate insolvencies in the UK, the primary sources of which are the Insolvency Act 1986 (“IA 1986”) and the Insolvency Rules 1986 (“IR 1986”) made under it, both of which have been amended significantly over the years since they first came into force. These principles are almost all equally applicable to insurance and reinsurance undertakings, and guidance on their application should be sought in standard works dealing with insolvency law.

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