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Insurance & Reinsurance News

Reinsurance

What the New Proposed Credit for Reinsurance Regulations Mean for Reinsurance Disputes

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Photo by Pixabay on Pexels.com You remember the Covered Agreements entered into between the US and the UK and the US and the EU to deal with Brexit and Solvency II and international financial standards, right? Well, the New York Department of Financial Services has noticed a proposed regulation implementing the new credit for reinsurance rules required under the Covered … [Read more...] about What the New Proposed Credit for Reinsurance Regulations Mean for Reinsurance Disputes

Inflection Point: COVID-19 and resulting balance sheet pressures spur hunt for lasting legacy solutions

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With mounting novel coronavirus (COVID-19) liabilities straining insurers’ and reinsurers’ balance sheets, the pressing need to free the capital tied up in legacy portfolios can no longer be ignored. Sorting out legacy risk would not only relieve reserve pressure, but also release much needed capital to support growth. So, what are the options for tackling the legacy … [Read more...] about Inflection Point: COVID-19 and resulting balance sheet pressures spur hunt for lasting legacy solutions

Non-Concurrency Between Ceding Companies and Their Reinsurers for Communicable Disease Exclusions: The Next COVID-19 Shoe to Drop

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As COVID-19 continues to change our everyday way of life, its impact on the insurance/reinsurance industry also continues to develop. The reinsurance renewal process that many insurance companies recently went through exposes yet another impending issue the insurance industry will need to confront – non-concurrency between the coverage afforded by newly issued insurance … [Read more...] about Non-Concurrency Between Ceding Companies and Their Reinsurers for Communicable Disease Exclusions: The Next COVID-19 Shoe to Drop

To the Cedent, Summary Judgment

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A New York federal court grants summary judgment to a cedent for breach of contract where reinsurer failed to provide the required collateral. Legal News Many reinsurance arrangements require the posting of collateral. The failure to post collateral is often grounds for a breach of contract claim. In a recent decision, a New York federal court granted summary judgment to the … [Read more...] about To the Cedent, Summary Judgment

Second Circuit Says Cedent Cannot Use the “Follow-the-Settlements” Doctrine to Circumvent Plain, Unambiguous Policy Provision

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Second Circuit holds that the “follow-the-settlements” doctrine does not bind a reinsurer to settlement decisions that are inconsistent with the plain, unambiguous terms of the reinsured policy.  https://www.whiteandwilliams.com/resources-alerts-Second-Circuit-Says-Cedent-Cannot-Use-the-Follow-the-Settlements-Doctrine-to-Circumvent-Plain-Unambiguous-Policy-Provision.html … [Read more...] about Second Circuit Says Cedent Cannot Use the “Follow-the-Settlements” Doctrine to Circumvent Plain, Unambiguous Policy Provision

Is COVID-19 One “Event”?: Reinsurance Aggregation

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As insurers and reinsurers evaluate their potential Covid-19 exposure, we look at the scope for aggregating Covid-19 losses on the basis of some of the market’s more common aggregation language. Read the full article here - https://www.bclplaw.com/en-GB/thought-leadership/is-covid-19-one-event-reinsurance-aggregation.html … [Read more...] about Is COVID-19 One “Event”?: Reinsurance Aggregation

Stranded Assets from Climate Change – Should Insurance Companies be Alarmed?

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Key Coleman discusses the impact climate change could have on the value of insurance companies’ investment portfolios. Climate change from the burning of fossil fuels has many implications for the US economy.  One consideration that deserves greater attention is the impact climate change could have on the value of insurance companies’ investment portfolios.  Given that … [Read more...] about Stranded Assets from Climate Change – Should Insurance Companies be Alarmed?

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