Book Review: Thompson sweet and Maxwell. THE LAW OF REINSURANCE

Law of Reinsurance, The
In England and Bermuda
5th Edition
Series:  Insurance Practitioner’s Library
Practice Area:  Insurance Law
ISBN:  9780414068179
Published by:  Sweet & Maxwell
Authors:Terry O’Neill; Jan Woloniecki
Publication Date:  30 Apr 2019
Subscription Information:  Non-Subscribable Product
Format:  Hardback
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The Law of Reinsurance has established itself as the definitive guide on reinsurance law and practice in England and Bermuda. This title not only addresses the core principles of reinsurance contracts and regulation but also relevant areas of agency law and dispute resolution procedure. It is relied upon as comprehensive and trusted text that continues to clarify a complex area of law.
The 5th edition of The Law of Reinsurance has undergone a major revision:
Chapter 3 addresses another attempt by the Supreme Court to restate the law on the interpretation of contracts.
The discussion on good faith, the duty of fair presentation, warranties and other terms in Chapter 6 has been revised as an integrated commentary of the Insurance Act 2015 (for England) and the pre-Insurance Act 2015 (for Bermuda).
Chapter 8 has been updated with sections on mortality and longevity risks and insurance linked securities.
Chapter 9 has been extensively re-written to restate the law on attribution of knowledge and ex turpi causa and its impact on the rights of (re)insurers and third parties.
Chapter 14 on reinsurance arbitration looks at new developments concerning the appointment of arbitrators and their duties of independence and confidentiality.
Chapter 15 includes forecasts about the regulatory regime post-Brexit.
This book continues to provide the most comprehensive guidance on reinsurance law and practice in England and Bermuda:
Covers the distinct areas of reinsurance contracts, disputes, and regulation.
Looks at the legal definition of reinsurance and outlines basic concepts and terminology.
Examines the nature and purpose of reinsurance transactions.
Explains the formation of reinsurance contracts and general principles such as offer and acceptance, consideration, variation, and termination.
Addresses the interpretation of reinsurance contracts and their relationship with original insurance contracts.
Discusses market practice in Bermuda and The Bermuda Form
Detailed coverage of the reinsurer’s obligation to pay claims looking at liability, coverage, reinsurer’s rights, and “follow the settlements” clauses.
Outlines defences to deny liability such as non-disclosure, misrepresentation, and warranties.
Covers financial reinsurance and alternative risk transfer.
Goes through the principles of the law of agency and the legal duty of intermediaries.
Explains reinsurance disputes and conflict of laws.
Includes litigation and arbitration procedural issues, comparing Bermuda arbitration law and the UNCITRAL Model Law.

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