Six Mega-trends that Will Take Insurance Back to the Future

Adopted strictly for illustrative purposes by Intelscape Limited during web design. Copyright belongs to owner.

Six Mega-trends that Will Take Insurance Back to the Future

By Susanne Møllegaard

CEO and Co-Owner, Process Factory

The insurance industry started out as a safety net among peers. Over time the help has become organized, leading first to mutual insurance companies and later to stock insurance companies. As much as this development has led to a greater degree of professionalism, it has also led to a kind of alienation. Furthermore, there is a problem with the basic structure of the insurance products, since the interests of the insurer and the insureds are not aligned. Broadly speaking, the insurer will be better off if premium levels are maximized and claims costs are minimized, whereas the opposite will be true for the insureds. Read more “Six Mega-trends that Will Take Insurance Back to the Future”

Contracts Facultative Reinsurance Treaty

February 14, 2021November 7, 2022 byAdam Smith

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”