In atreaty reinsurancecontract, the ceding company and the accepting company agree on a broad set of insurance transactions that will be covered by reinsurance. For example, the ceding insurance company may cede all risks for flood damage and the accepting company may accept all risks for flood ...
The “Ceding Commission” is one such example. It is a payment made by the Reinsurer to the Ceding Company to help to cover either some or all of its purchase, administrative, underwriting, and other costs. A proportion of the reinsurance premium is typically used to represent the ceding co...
Maintaining good health is a fundamental part of being alive. Unfortunately, it’s also an expensive part of humanity. Of course, healthcare should always be a financial priority. But there are some procedures we’re unable to anticipate despite how well we take care of ourselves. These proced...
In this case, there is the recognition of the presence of foreign laws that may also create an impact in other national or territorial jurisdictions. What can be confusing, in this case, is the matter of the choice of law (Collier, 2001). Hence, jurisdictional questions may arise. The uti...
A side agreement promotes the possibility of a broader trade treaty in business relations. Such practices are enforceable in the UAE because they help to protect the interests of foreign investors and provide them with guarantees that they may control the company. Sometimes, side agreements are ...