Summary |
In compiling this book an attempt has been made to set out in compendious form an account of the manner in which the principles and practice of reinsurance business have evolved in this country, outlining the methods by which the business is conducted and the various forms used in its transaction. It may well be emphasized, however, that there is no absolute uniformity in those methods and these may differ according to the customs and business ways of the parties who practice them. The purpose of this book is to bring the subject into focus and explain as far as possible the fundamentals of the business. It must be remembered nevertheless that the reinsurance contract is a private matter entered into between experts, each with their own ideas. No claim is made for any of the forms analysed in the following pages that it represents the only wording to the exclusion of others, but merely that it illustrates the general practice.
The increasing importance of reinsurance under modern business conditions must be apparent to every student of insurance business. A knowledge of its principles has become the more necessary because of the greater part which it plays in the general conduct of the business. This book has been published in the hope that it may prove of some assistance to those may insurance men who come into contact with reinsurance in one or other of its various aspects as a part of their ordinary business activities.
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