Summary |
This book is based on materials used in the reinsurance law conferences and seminars in which I have participated in recent years. To some extent it is an historical analysis in that the 19th Century cases were predominantly concerned with disagreements under facultative marine reinsurances, when differences under the early treaties were, almost invariably, decided by arbitrators.
Although that position has changed, with the 20th Century development of excess of loss business, it is instructive to refer to these cases to understand the development of policy wordings, and the necessity of careful draftsmanship to avoid legal difficulties as markets develop.
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