UNDERSTANDING REINSURANCE TREATY SLIPS- HANDY REFERENCE BOOK FOR REINSURANCE PROFESSIONALS

Reinsurance Book

Upto late 1980’s Separate reinsurance treaty wordings were used for Reinsurance Treaties and Facultative Reinsurances for various classes of General Insurance. Life Reinsurance requirements were very little and Reinsurance of Life Insurances have been done with Minimum Requirements.

However, with increasing frequencies and severities of NAT CAT EVENTS and also events of TERRORISM the needs of Reinsurers and Reinsureds have impacts on ways of doing Reinsurance business.

The ROA of UK had already made beginnings to standardize Reinsurance Treaty slips and wordings. Yet Exclusion Lists of Various classes and coverage of Terrorism were with uncertain terms and varying definitions. These also needed standardization.

After the WTC attack losses of 11th September 2001, the above mentioned trends led towards standardization of Proportional and Non Proportional Treaty slips with around 40 pages covering Glossary of Terms, Lists of Exclusions, Standardized Clauses and the slips had a Schedule of Terms, Signing pages and Leader’s seal with signature of both Lead Reinsurer and Insurance Company as Reinsured or in case of a Retro Treaty the seal and signature of Retrocessionaire and Retrocedant.

Here an attempt is made to simplify ways for Understanding Reinsurance Treaty slips and class-wise list of exclusions with specimen of Globally Standardized Treaty slips by Munich Re/ Swiss Re and followed by almost all Global Reinsurers.

Mr. K.L. Naik a Reinsurance Guru and authority on the subject has taken the initiative to write this book on Understanding Treaty Slips.

Mr. Naik has very rich experience in the reinsurance field both in Indian and International markets and he has put forth all his experience in capsule form in this book.

The book written in lucid language will be an easy reference guide for Insurers, Reinsurance Professionals, Students, Intermediaries. It will be a rich and valuable addition to every library for reference on Reinsurance in India.

Important topics covered in the book

1 Introduction
2 Explanation of Proportional Treaty Slip Terms
3 Global Standard Proportional Treaty Slips of All Classes – Common Features for various Classes covered
4 Miscellaneous Accident Proportional Treaty
5 Marine Cargo Proportional Treaty
6 Marine Hull Proportional Treaty
Annexure I – Proportional Treaty Slip Terms
Annexure II – Premium Bordeaux, Loss Bordeaux
Annexure III – Reinsurance Agreement
Specimen Schedule for Proportional Treaties
Standard Exclusions for All Classes Same for Proportional & XL Treaties
7 Non-Proportional Reinsurance Treaty Slips or Excess of Loss Treaty Slips
8 Global Standard Treaty Slip for Non Proportional Treaty Programme
Annexure I – Reinsurance Agreement Property Catastrophe Excess of Loss
Annexure II – Stop Loss XL Treaty Slip
Specimen Schedules for Non – Proportional Treaties of Marine Cargo XL Treaty Property CAT XL Treaty,Motor/ Liability / PA XL Treaty

Click here to view sample pages of the Book

Click here to pay immediately by online by Debit/Credit Card/Netbanking

Tag: Reinsurance Book

#reinsurance