In Search for Clarity: U.S. Court Decisions On Whether to Imply Follow -the-Fortunes and Follow-the-Settlements Principles Into Reinsurance Contracts
May 17, 2023
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鈥檛 (such as, for example, 鈥渞eassurance鈥). Small wonder: the Strain treatise鈥檚 essays were written by, edited, and reviewed by 鈥渁 veritable WHO鈥檚 WHO in the reinsurance business,鈥 and recommended by their peers, 鈥渨hose know-ledge, experience, and judgment . . . was, for the most part, from a life鈥檚 work.鈥 In other words, Strain captures the principles and customs of the industry as well as anyone.
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