WebJun 25, 2024 · In the reinsurance context, a usual query that arises in almost any single reinsurance transaction or contract where some money is advanced or handed over between the parties is whether it is possible to set-off mutual debts within an insolvency proceeding. Set-off is an equitable right that allows the parties to a contract to cancel or … WebJul 29, 2009 · Given the magnitude of aviation risk, the ultimate risk tends to be spread among many reinsurers and retrocessionaires through reinsurance and retrocession …
GLOSSARY OF REINSURANCE TERMINOLOGY
Webthe cut-through agreement get paid and that rein-surers are not in jeopardy of paying twice (to the receivership estate and to the cut-through benefici-ary). Another example is the work the RAA has done to clarify state laws in relation to insolvency clauses. Insolvency clauses are required as a condi-tion of credit for reinsurance, but state ... WebMulti-user features. FREE to create, use and share. No credit card required. Cut Through Reinsurance Endorsement Agreement. (i) The cash deposit paid under the terms of the Cut Through Reinsurance Endorsement Agreement between Transguard and Harco National Insurance Company of even date herewith (the “Cut Through Agreement ”), pursuant to ... diary of a wimpy kid big shot how many pages
Security options for insurance transactions - Bedell
WebAn insurance agent. Insurance and reinsurance companies incorporated in the UAE must have at least 51% of their capital owned by a UAE or GCC national, or by legal entities wholly owned by them. Where a company operates an insurance practice through a branch, a UAE national must be appointed as an agent of the branch. http://www.fortunes-de-mer.com/documents%20pdf/clauses/Cut%20Through%20Clause.pdf WebMar 1, 2003 · Reinsurance agreements will often contain setoff clauses that allow the parties to offset debts owed under the reinsurance agreement. For example, in Prudential Reinsurance Co. v Garamendi , 842 P2d 48 (Ca 1992), a setoff clause provided that the parties could offset any and all reinsurance debts owed by or to them under the same or … diary of a wimpy kid big shot plot