In Search for Clarity: U.S. Court Decisions On Whether to Imply Follow -the-Fortunes and Follow-the-Settlements Principles Into Reinsurance Contracts

Undoubtedly, reinsurance practitioners learn early on certain fundamental principles and customary practices that define reinsurance. For many, Robert W. Strain, Reinsurance (6th ed. 1997) was required reading to try to understand what reinsurance is and isn’t (such as, for example, “reassurance”). Small wonder: the Strain treatise’s essays were written by, edited, and reviewed by “a veritable WHO’s WHO in the reinsurance business,” and recommended by their peers, “whose know-ledge, experience, and judgment . . . was, for the most part, from a life’s work.” In other words, Strain captures the principles and customs of the industry as well as anyone.

This story was published in ARIAS U.S. Quarterly. To download the publication, click here.