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Part II The Bermuda Form in Detail, 15 Use of the Bermuda Form for Reinsurance

David Scorey, Richard Geddes, Chris Harris

From: The Bermuda Form: Interpretation and Dispute Resolution of Excess Liability Insurance (2nd Edition)

David Scorey QC, Richard Geddes, Chris Harris

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2022. All Rights Reserved.date: 06 July 2022

Subject(s):
Contracts and insurance

This chapter focuses on the (inwards) facultative reinsurance provided by a Bermuda Form insurer of specific risks notionally or actually underwritten by captive insurers. It highlights a number of features of the reinsurance policies employed by the major insurers and certain of the issues that can arise therefrom. A definitive discussion is not possible, not least because of the wide varieties of wordings used by insurers. At one end of the spectrum, some established insurers have developed sophisticated pro forma reinsurance policy wording that they regularly use; at the other end of the spectrum, one finds policies drafted on an ad hoc basis that borrow extensively from the Bermuda Form — with varying degrees of success and comprehensibility.

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