The development from traditional reinsurance to alternative risk transfer in current law
The development from traditional reinsurance to alternative risk transfer in current law
Reinsurance is a contract between a primary insurer and one or several reinsurers, who may use retrocession contracts to cede risk even further. There is a certain connection but no contractual relationship between the parties. Current The first part of this thesis embraces the issues arising from reinsurance transactions, first of all, the principal arrangement methods of reinsurance, facultative cover and treaties based on either proportion or non-proportion. proportional reinsurance agreements can be divided into quota share and surplus cover; as well as combined quota share and surplus cover. Non-proportional reinsurance agreements can be divided into excess of loss cover and excess of loss ratio cover (stop loss reinsurance). Secondly, several issues of reinsurance, including the insurance interest on reinsurance, utmost good faith applied to reinsurance transactions, incorporation by reference and the clauses in common use, are stated and resolutions investigated. Thirdly, the supervisory methods for reinsurance transactions and the EU's milestone passing of the Reinsurance Directive 2005 are analysed. hisurance risks can also be spread by various non-traditional methods, termed 'Alternative Risk Transfer' (ART), dealt with in the second part of the thesis. After an introduction, an examination of how ART transactions are currently carried out is made. In general, current ART products can be categorised into self-insurance, financial reinsurance, capital several legal and regulatory issues arising from ART instruments etc. Secondly, transactions will be addressed and resolved. This section will use comparative law, especially looking at the quality, detail and reputation of US law. The UK Financial Services and Markets Act 2000 (FSMA 2000) created reforms worthy of investigation, and useful as a reference for further development of legal and regulatory frameworks in other countries.
University of Southampton
Lin, Chao-Chih
54e264d5-19e2-47dc-af8a-31d5e5d21e89
2007
Lin, Chao-Chih
54e264d5-19e2-47dc-af8a-31d5e5d21e89
Lin, Chao-Chih
(2007)
The development from traditional reinsurance to alternative risk transfer in current law.
University of Southampton, Doctoral Thesis.
Record type:
Thesis
(Doctoral)
Abstract
Reinsurance is a contract between a primary insurer and one or several reinsurers, who may use retrocession contracts to cede risk even further. There is a certain connection but no contractual relationship between the parties. Current The first part of this thesis embraces the issues arising from reinsurance transactions, first of all, the principal arrangement methods of reinsurance, facultative cover and treaties based on either proportion or non-proportion. proportional reinsurance agreements can be divided into quota share and surplus cover; as well as combined quota share and surplus cover. Non-proportional reinsurance agreements can be divided into excess of loss cover and excess of loss ratio cover (stop loss reinsurance). Secondly, several issues of reinsurance, including the insurance interest on reinsurance, utmost good faith applied to reinsurance transactions, incorporation by reference and the clauses in common use, are stated and resolutions investigated. Thirdly, the supervisory methods for reinsurance transactions and the EU's milestone passing of the Reinsurance Directive 2005 are analysed. hisurance risks can also be spread by various non-traditional methods, termed 'Alternative Risk Transfer' (ART), dealt with in the second part of the thesis. After an introduction, an examination of how ART transactions are currently carried out is made. In general, current ART products can be categorised into self-insurance, financial reinsurance, capital several legal and regulatory issues arising from ART instruments etc. Secondly, transactions will be addressed and resolved. This section will use comparative law, especially looking at the quality, detail and reputation of US law. The UK Financial Services and Markets Act 2000 (FSMA 2000) created reforms worthy of investigation, and useful as a reference for further development of legal and regulatory frameworks in other countries.
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Published date: 2007
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Local EPrints ID: 466850
URI: http://eprints.soton.ac.uk/id/eprint/466850
PURE UUID: a3a21089-80a2-4ebd-975f-8bc1fc5230a9
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Date deposited: 05 Jul 2022 06:51
Last modified: 16 Mar 2024 20:51
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Author:
Chao-Chih Lin
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