. . . Consequently, subject to therequirements of good faith and a reasonable, businesslikeinvestigation, the ceding company may bind the reinsurer to follow its settlements when it concedes that a particular claim falls within the scope of coverage provided by the ceding company's policy.1...
Reinsurance contracts are filled with exotic and equally mind-numbing terms like facultative certificate, follow-the-fortunes, cede, treaty, honorable engagement, ultimate net loss, and more. Some of our previous articles have addressed a few of these terms, such as "Understanding Reinsurance Terminol...
THIS PERSONAL LINES CUT-THROUGHQUOTA SHARE REINSURANCE AGREEMENT(this “Agreement”) is entered into as of January 3, 2014 by and among TOWER INSURANCE COMPANY OFNEW YORK, an insurance company organized under the laws ofNew York, CASTLE POINT NATIONAL INSURANCE COMPANY, an insurance company organiz...