New Protocol for Reinsurance Coverage Disputes
Risk Management; New York › Vol. 54 Nbr. 4, April 2007
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Summary
In April 2005, a group of several prominent insurers met in London in attempt to identify those areas of inter-company disputes most ripe for reform and cooperation. It did not take long for the group to name the often disproportionate lawyer fees associated with reinsurance coverage disputes as a prime target. The International Reinsurance Industry Dispute Resolution Protocol was designed to provide a method for companies to mitigate fees and shorten the time between when a company learns of a dispute and when it is able to begin serious negotiations to settle.
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Extract
New Protocol for Reinsurance Coverage Disputes
In April 2005, a group of several prominent insurers met in London in attempt to identify those areas of inter-company disputes most ripe for reform an...
See the full content of this document
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