Advice and support on all types of reinsurance contracts (facultative and treaty), dispute resolution, collection of reinsurance recoveries and drafting of policy wordings/associated documents.
Aggregation, follow settlements/loss settlements, incorporation of terms, accounts, inspections and limitation are some of the clauses contained in reinsurance contracts that continue to give rise to disputes in the international reinsurance market.
Weightmans' London Market Team has in-depth expertise and experience in dealing with these and other issues arising from reinsurance contracts. We advise on all classes of reinsurance to reinsurers or reinsureds, whether based in established markets like London, Bermuda, North America and Continental Europe or developing reinsurance hubs such as Singapore, Dublin and the UAE. We have extensive contacts with reinsurance lawyers around the globe and are experienced in dealing with matters worldwide.
We fully understand the commercial realities of the market and are acutely aware of the key issues of cost, management time and reputation that affect your organisation. Our actions take particular account of your ongoing commercial relationships and the effects of establishing precedent, whether in the live or run-off market.
We work closely with underwriters, in-house legal and claims personnel both at pre and post litigation stages. In handling disputes, we seek to protect your position by bringing cases to a rapid and satisfactory conclusion, whether by negotiated settlement, mediation, arbitration or court proceedings.
Our team also offers a reinsurance collections service specifically tailored at using our experience of dealing with reinsurers in various jurisdictions across the globe including China, Venezuela, Uruguay, South Korea, Egypt, Tunisia, Israel, Taiwan, Colombia, Iran, Serbia, Bulgaria, Philippines, Pakistan, Turkey, Romania, Indonesia and India.
We can also help in the drafting and review of reinsurance policy wordings, commutations, policy buy-back, settlement and release, standstill, indemnity, confidentiality and other related agreements.