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

33 LETTERS OF CREDIT AND OTHER SECURITY PROVIDED BY REINSURERS

Reinsurance Practice and the Law

Chapter 33 LETTERS OF CREDIT AND OTHER SECURITY PROVIDED BY REINSURERS INTRODUCTION 33.1 The financial security of reinsurers and retrocessionaires has been one of the most important recurring causes of concern for the London and international markets during the last decade. The debate about this subject has been triggered by the insolvency of a number of insurers and reinsurers, particularly in the United States. It is, therefore, not surprising that there is increasing interest about the solvency of reinsurers and methods of enhancing the security of reinsureds. One such method, which is particularly significant in the context of North American business, is the letter of credit or “LOC”.

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?

Devices

Request a trial Find out more