Reinsurance
Advice and support on all types of reinsurance contracts,
resolution of disputes, collection of reinsurance recoveries and
drafting of commutation and other settlement wordings.
Aggregation, follow settlements, incorporation
of terms, accounts, loss settlements and inspections are just some
of the clauses contained in reinsurance contracts that continue to
give rise to disputes in the international reinsurance
market. Together with issues of non-disclosure,
misrepresentation, market practice, delegated underwriting and time
bar, they make up the bulk of disputes arising from
reinsurance contracts.
Weightmans’ London Market Team brings in-depth
expertise and highly developed negotiating skills to this complex
scenario. 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 fully understand the commercial realities
of the market in which you operate 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.
Through our extensive contacts with
reinsurance lawyers around the globe, we can recommend the best
firm for the job in any particular location.
We are experienced in the drafting and review
of commutations, policy buy-back, settlement and release,
standstill, indemnity, and confidentiality agreements. 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.
Members of our team have been involved in the
Lloyd's Names litigation of the early 1990s, the leading English
case on the Aggregate Extension Clause, the recovery of Declaratory
Judgment Costs and the PA Spiral. They are recognised for
their reinsurance litigation skills in the UK's Legal 500.
We also offer a reinsurance collections
service specifically tailored at using our experience of dealing
with reinsurers throughout the globe including in Venezuela,
Uruguay, South Korea, Egypt, Tunisia, Israel, Colombia, Iran,
Serbia, Bulgaria, Philippines and India.
Our hourly rates are very competitive and our
fee arrangements flexible. See our entry in 'The Review: Guide to
Reinsurance Law Firms’ for 2008 and 2009.