Advanced Reinsurance Contracts and Disputes Masterclass: Understand the Impact of the Insurance Act 2015 and the Enterprise Act 2016 (ONLINE EVENT: February 12, 2025/ON-DEMAND) - ResearchAndMarkets.com

The "Advanced Reinsurance Contracts and Disputes Masterclass Training Course" has been added to ResearchAndMarkets.com's offering.

Reinsurance industry practices have changed in recent years, placing more and more emphasis and importance on reinsurance contract wordings. It is more apparent that a contract is only an advantage if it exactly reflects what the underwriter intended and the insured expected. If companies want to avoid lengthy and expensive disputes, they must develop clear and thorough reinsurance agreements and avoid frequent and small nuances that can land reinsurance companies in trouble.

This seminar focuses on the more advanced, up-to-the-minute issues.

Benefits of attending

• Get up-to-date with the latest developments in applicable law
• Understand the impact of the Insurance Act 2015 and the Enterprise Act 2016 on your policy wording
• Hear about the role of notice, information and claims control/cooperation clauses
• Grasp and learn to avoid the common mistakes in drafting watertight reinsurance clauses
• Master the latest developments in property and casualty clauses
• Gain knowledge of the regulatory considerations when launching a new product
• Understand the implications of recent judgments involving follow clauses
• Learn how to be prepared for reinsurance disputes and how to deal with them when they arise

Certifications

• CPD: 6 hours for your records
• Certificate of completion

Who Should Attend:

• Wordings technicians
• Reinsurance technicians
• Claims managers and underwriters
• Wordings specialists
• In-house lawyers
• Lawyers in private practice
• Anyone who is involved in the drafting or implementation of reinsurance wordings or who deal with reinsurance disputes

Key Topics Covered:

Follow wordings - issues, options and effective drafting

• Arbitration awards, and English/foreign judgments
• Settlements - how to draft wide or narrow clauses
• "Without prejudice" and "ex-gratia" settlements
• Businesslike steps and the burden of proof
• Dealing with commutations

The Insurance Act 2015 and the Enterprise Act 2016 - case update and how they impact your policy wording

• The legal nature of warranties (sections 9 and 10)
• The effect of Section 11
• How to draft around section 11(3) - terms defining the risk
• Fair Presentation - new rules and wording tweaks
• Section 13A, damages for late payment of claims; key drafting issues for reinsurers
• Contracting out and the transparency requirements

Notice, information and claims control/cooperation clauses

• Purpose
• Reporting and notice clauses - "immediate', "as soon as practicable" notice
• Conditions precedent
• Access to records clauses
• Late notice issues
• Confidentiality

Drafting watertight reinsurance clauses: some common mistakes

• Full follow clause/back-to-back presumption
• Avoid incorporate
• Don't cut and paste
• Check for internal consistency between clauses
• Put all the clauses in the right places in the document
• Use clear language
• Make sure definitions are relevant to all uses
• Don't use the same words in different senses
• Don't rely on the courts to imply terms

Developments in property and casualty clauses

• Wording issues for emerging and developing markets
• Clauses broadening cedants' rights
• Additional observations and developments

Aggregation

• Drafting for the correct breadth of aggregating factor ("loss", "occurrence", "series", "event", "catastrophe", "originating cause")
• Hours clauses
• Considering drafting issues in the context of recent catastrophes including Covid-19
• Practical tips

Regulatory considerations when launching a new product

• Why is regulatory compliance important?
• Why is regulatory risk higher for new products?
• The impact of insurance regulation on the structure, content and sale of new products
• How do you create a compliant MVP?
• What are the risks of working with other business partners/distribution partners?

Being prepared for reinsurance disputes: Wordings and their role in dispute resolution

• Governing law and jurisdiction
• Arbitration
• Mediation (and med/arb)
• Selection of panel members
• Disclosure and evidentiary matters
• Settlement agreements and commutations (including IBNR)

Speakers:

Phillippa Rowe

Phillippa Ross & Co

Phillippa Rowe, senior partner of independent reinsurance consultants Phillippa Ross & Co., has over 30 years experience of insurance and reinsurance claims in Lloyd's and the London market and internationally. She began her reinsurance career with 15 years with the Kiln group at Lloyd's. She currently acts as arbitrator, mediator, expert witness and technical consultant in a wide range of claims, wordings and market practice matters and writes, lectures and provides training courses on similar subjects.

Sherry Goodman-Smith

DAC Beechcroft

Sherry Goodman-Smith is a specialist in complex insurance and reinsurance policy coverage disputes. She joined DAC Beachcroft's Global Insurance practice as a partner, based in London, in 2021.

Sherry spent the previous eight years at Simmons & Simmons, most recently as Of Counsel. There she advised London market insurers and reinsurers on large-scale coverage issues, with a particular focus on product liability and recall, international casualty and complex property claims. She has also advised on coverage issues arising from more niche insurance policy wordings, including kidnap and ransom, intellectual property liability, and fine art claims.

Duncan Strachan

DAC Beachcroft

Duncan Strachan is a Partner at DAC Beachcroft LLP. He specialises in complex and international (re)insurance matters across multiple lines of business. His current caseload advising on major energy losses in Ecuador, Peru and Colombia; monitoring US securities class action suits against non-US entities; and advising on exposure to climate change litigation.

Simon Cooper

Ince & Co

Simon Cooper is a Consultant at Ince & Co LLP. He has experience of advising clients in the London and international insurance and reinsurance markets and has extensive experience of acting in large scale disputes in the English Commercial Court and appellate Courts, in ad hoc arbitrations and in overseas jurisdictions.

For more information about this training visit https://www.researchandmarkets.com/r/dibd01

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