Elements of a Reinsurance Contract
This is for illustrative purposes only during web development. Adapted fully from The Law of Reinsurance by Colin Edelman QC, Andrew Burns.
- Elements of a Reinsurance Contract
2.01 A reinsurance contract is formed according to normal contractual principles. There needs to be an offer and an acceptance of that offer to form an agreement, with consideration for the bargain and an intention by the parties to create legal relations between them. The relationship between reinsurer and reinsured may be one of utmost good faith when concluding the contract, but the essential requirements for the formation of a contract are the same. Read more “Elements of a Reinsurance Contract”