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Falconbury

Advanced Reinsurance Contracts and Disputes Masterclass Training Course

An intensive one-day programme that focusses on the latest legal developments, advanced drafting skills and disputes best practice, as well as up-to-the-minute issues that will ensure watertight reinsurance contracts.

22 Feb 2023
+ 2 more dates

Need help?  Enrol or reserve

  • Format: Live online, Classroom
  • CPD: 6 hours for your records
  • Certificate of completion

Course overview

Reinsurance industry practices have changed in recent years, placing more and more emphasis and importance on reinsurance contract wordings. It is more apparent that a contract is only an advantage if it exactly reflects what the underwriter intended and the insured expected. If companies want to avoid lengthy and expensive disputes, they must develop clear and thorough reinsurance agreements and avoid frequent and small nuances that can land reinsurance companies in trouble.

 

This seminar focuses on the more advanced, up-to-the-minute issues.

Who should attend?

  • Wordings technicians
  • Reinsurance technicians
  • Claims managers and underwriters
  • Wordings specialists
  • In-house lawyers
  • Lawyers in private practice
  • Anyone who is involved in the drafting or implementation of reinsurance wordings or who deal with reinsurance disputes

Benefits of attending

  • Get up-to-date with the latest developments in applicable law
  • Understand the impact of the Insurance Act 2015 and the Enterprise Act 2016 on your policy wordings
  • Hear about the role of notice, information and claims control/cooperation clauses
  • Grasp and learn to avoid the common mistakes in drafting watertight reinsurance clauses
  • Master the latest developments in property and casualty clauses
  • Gain knowledge of the regulatory considerations when launching a new product
  • Understand the implications of recent judgments involving follow clauses
  • Learn how to be prepared for reinsurance disputes and how to deal with them when they arise

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The Advanced Reinsurance Contracts and Disputes Masterclass course will cover:

Follow wordings – issues, options and effective drafting

  • Arbitration awards, and English/foreign judgments
  • Settlements – how to draft wide or narrow clauses
  • “Without prejudice” and “ex-gratia” settlements
  • Businesslike steps and the burden of proof
  • Dealing with commutations

The Insurance Act 2015 and the Enterprise Act 2016 – case update and how they impact your policy wording

  • The legal nature of warranties (sections 9 and 10)
  • The effect of section 11
  • How to draft around section 11(3) – terms defining the risk
  • Fair Presentation – new rules and wording tweaks
  • Section 13A, damages for late payment of claims; key drafting issues for reinsurers
  • Contracting out and the transparency requirements

Notice, information and claims control/cooperation clauses

  • Purpose
  • Reporting and notice clauses – “immediate’, “as soon as practicable” notice
  • Conditions precedent
  • Access to records clauses
  • Late notice issues
  • Confidentiality

Drafting watertight reinsurance clauses: some common mistakes

  • Full follow clause / back-to-back presumption
  • Avoid incorporate
  • Don’t cut and paste
  • Check for internal consistency between clauses
  • Put all the clauses in the right places in the document
  • Use clear language
  • Make sure definitions are relevant to all uses
  • Don’t use the same words in different senses
  • Don’t rely on the courts to imply terms

Developments in property and casualty clauses

  • Wording issues for emerging and developing markets
  • Clauses broadening cedants’ rights
  • Additional observations and developments

Aggregation

  • Drafting for the correct breadth of aggregating factor (“loss”, “occurrence”, “series”, “event”, “catastrophe”, “originating cause”)
  • Hours clauses
  • Considering drafting issues in context of recent catastrophes including Covid-19
  • Practical tips

Regulatory considerations when launching a new product

  • Why is regulatory compliance important?
  • Why is regulatory risk higher for new products?
  • The impact of insurance regulation on the structure, content and sale of new products
  • How do you create a compliant MVP?
  • What are the risks of working with other business partners/distribution partners?

Being prepared for reinsurance disputes: Wordings and their role in dispute resolution

  • Governing law and jurisdiction
  • Arbitration
  • Mediation (and med/arb)
  • Selection of panel members
  • Disclosure and evidentiary matters
  • Settlement agreements and commutations (including IBNR)

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Ben Ogden
Ince & Co

Ben Ogden is a partner at Ince & Co. He acts for insurers, insureds and brokers in a variety of insurance disputes. He has significant expertise, gained over many years, of professional indemnity insurance, and political, trade and credit risk insurance. His professional indemnity work has focussed on lawyers, where his experience encompasses all aspects of legal practice; as well as insurance brokers, dealing with complex placements and coverage issues. He has regularly considered issues of dishonesty in the context of PI claims. He has also acted for (and against) other professions.

His political and trade credit risk work has included significant policy drafting as well as handling a range of disputes (for insurers and insureds) involving different subject matter – whether it be non-payment, asset deprivation, or quantification. The claims have arisen in different jurisdictions and have been varying values. Ben has acted in a variety of commercial disputes connected to the acquisition or operation of businesses. Notable sale and purchase disputes have arisen from the warranties given on the acquisition of a shipyard and the sale of a Lloyd’s agency. He has acted in many cases alleging secret profits, most notably two long trials (and the subsequent appeals) in relation to commissions. The majority of Ben’s work has been in Court and he has significant trial experience, but he has regularly used ADR as a means of settling disputes.

In addition to his practice, Ben lectures regularly on insurance law and about alternative dispute resolution, of which he has considerable experience representing clients.



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Simon Cooper
Ince & Co

Simon Cooper is a Consultant at Ince & Co LLP. He has experience of advising clients in the London and international insurance and reinsurance markets and has extensive experience of acting in large scale disputes in the English Commercial Court and appellate Courts, in ad hoc arbitrations and in overseas jurisdictions. Many of these disputes have involved multiple parties and complex issues of fact and law. Simon also has comprehensive experience of mediation and other forms of Alternative Dispute Resolution. Simon’s practice focuses on reinsurance, financial lines and professional indemnity business but has included most areas of non-marine business.

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Christopher Foster
Holman Fenwick Willan

Christopher Foster, Head of Holman Fenwick Willan's worldwide insurance group, is a solicitor advocate with over twenty-eight years' experience in contentious insurance and reinsurance matters, often with an international element, and commercial litigation generally. Christopher acts for insurers, reinsurers, and major insured entities and their captive insurers. His experience includes COVID-19, California wildfires; Greensill; the invasion of Kuwait; WorldCom; Exxon Valdez oil spill; Madoff; hurricanes Katrina, Rita, Juliette, Ivan, Wilma, Maria and Irma; the Hatfield rail crash; the Winterthur XL baseball arbitration; hip implants; the Lloyd's litigation; the alleged Algosaibi frauds; Australian bushfires; PPI; film finance (including tax schemes); abuse claims; the PA spiral; asbestos; pollution; the bankruptcy of Enron; pharmaceutical liabilities; 9/11; Venezuelan political risks; disruptions caused by volcanic ash; and Graff on its Bond Street robbery. Christopher is the author of the arbitration chapter in the Insurance Institute of London’s book, Alternative Dispute Resolution in Practice, and a member of the Insurance Committee of the City of London Law Society.

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Duncan Strachan
DAC Beachcroft

Duncan Strachan is a Partner at DAC Beachcroft LLP. He specialises in complex and international (re)insurance matters across multiple lines of business.  His current caseload advising on major energy losses in Ecuador, Peru and Colombia; monitoring US securities class action suits against non-US entities; and advising on exposure to climate change litigation.  Duncan’s focus is on international disputes and policy coverage analysis, with particular expertise in Latin America and the Caribbean, due to his familiarity with the legal and political landscape across the region. Duncan is also fluent in Spanish and regularly presents to insurers and reinsurers across the world.

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Andrew Bandurka
Holman Fenwick Willan

Andrew Bandurka Arbitrator, Mediator and Consultant. Andrew has more than 30 years' experience in handling reinsurance disputes. He was a partner at leading international reinsurance firm, HFW and he retains a consultancy there. 

Andrew has handled many high profile reinsurance cases, including leading the successful teams in some of the most important  'market' test cases to reach the appellate Courts, such as the Kuwait invasion aggregation case (Scott-v-Copenhagen Re), the Exxon Valdez follow settlements case (King-v-Brandywine) and the 9/11 Twin Towers aggregation case (Heraldglen-v-AIOI). His other reported reinsurance cases include Home-v-Wurtembergische (reinsurance pool run-off) and Hassneh-v-Pan Atlantic (arbitrator qualifications). Andrew is a Fellow of the Chartered Institute of Arbitrators, is on the ARIAS(UK) panel and the ICC panel of arbitrators and he is an accredited mediator.

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Will Reddie
HFW

William Reddie, Partner, Holman Fenwick Willan LLP, advises on a range of corporate and regulatory matters, focussing on clients in the insurance sector. His experience includes M&A, joint ventures, (re)insurance arrangements, commutations and transactions specific to the Lloyd's market, and insurtech products. Will has provided regulatory advice on Part IV authorisation issues, distribution arrangements, passporting structures, intra-group arrangements and the use of appointed representatives. He has also advised several entities on the acquisition or disposal of run-off business by way of a loss portfolio reinsurance and subsequent Part VII transfer

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Sherry Goodman-Smith
DAC Beechcroft

Sherry Goodman-Smith is a specialist in complex insurance and reinsurance policy coverage disputes. She joined DAC Beachcroft's Global Insurance practice as a partner, based in London, in 2021.

Sherry spent the previous eight years at Simmons & Simmons, most recently as Of Counsel. There she advised London market insurers and reinsurers on large-scale coverage issues, with a particular focus on product liability and recall, international casualty and complex property claims. She has also advised on coverage issues arising from more niche insurance policy wordings, including kidnap and ransom, intellectual property liability, and fine art claims.


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Book Advanced Reinsurance Contracts and Disputes Masterclass Live online/Classroom training

NEW higher discounts for multiple bookings - bring your colleagues to make your training budget go further:

  • 30% off the 2nd delegate*
  • 40% off the 3rd delegate*
  • 50% off the 4th delegate*

Please contact us for pricing if you are interested in booking 5 or more delegates

22 Feb 2023

Live online

09:15-17:15 UK (London) (UTC+00)
10:15-18:15 Paris (UTC+01)
04:15-12:15 New York (UTC-05)
Course code 12594

  • GBP 499 599
  • EUR 719 859
  • USD 823 979

Until 18 Jan

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Not ready to book yet?

for 7 days, no obligation

13 Jun 2023

Classroom
Rembrandt Hotel
London

09:00-17:15 UK (London)
Course code 12595

  • GBP 599 699
  • EUR 869 1,009
  • USD 993 1,149

Until 09 May

  • 1 day classroom-based training
  • Meet presenters and fellow attendees in person
  • Lunch and refreshments provided
  • Download documentation and certification of completion
  • Fair transfer and cancellation policy

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Not ready to book yet?

for 7 days, no obligation

4 Oct 2023

Live online

09:15-17:15 UK (London) (UTC+01)
10:15-18:15 Paris (UTC+02)
04:15-12:15 New York (UTC-04)
Course code 12755

  • GBP 499 599
  • EUR 719 859
  • USD 823 979

Until 30 Aug

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Not ready to book yet?

for 7 days, no obligation

* Early booking discounts may not be combined with other discounts or offers. As such, the discounts for 2nd/3rd/4th delegates are based on the full price.

United Kingdom

  • Starr Underwriting Agents Limited

Enrol or reserve

Multiple colleagues? See above for details of our discounts for 2, 3, or 4 delegates. For more, talk to one of our training experts to discuss how to:

Run this course conveniently and cost-effectively in-house for your staff and colleagues

Aleksandra BEER
Training expert

Yesim NURKO
Training expert

+44 (0)20 7749 4749

inhouse@ipi.academy