We're ready to share our expert reinsurance advice to navigate your contracts

We work with clients to help them determine their immediate and long-term objectives such as risk transfer, enhanced capacity, catastrophe protection, capital management, regulatory compliance, diversification of risks, claims management, business continuity, hedge emerging risks as well as changes in legal and regulatory regimes. As reinsurance contracts are long term strategic assets the preferred approach for achieving those objectives is to create a multi-year strategy.

Cobblestone Consulting LLC offers business advice, risk management advice, coverage advice, and suggestions for mitigating emerging risk. We work with clients and their advisors as appropriate. 

Notes:

• Strategic asset: Reinsurance contracts are a strategic asset and should be managed to maximize their immediate and long-term value.

• Opportunity or threat: Clauses need to be evaluated each year. Due to changes in the business and legal environment every clause in a reinsurance treaty is a potential opportunity or a potential threat.  

• Collaboration: Effective reinsurance contract drafting ideally incorporates the requirements of the internal and external stakeholders e.g., strategic planning, underwriting, claims, finance, accounting and regulators.  

• Standard clauses: There is no such thing as a “standard” reinsurance treaty or a standard clause. While there are similarities, each reinsurance broker, each direct writing reinsurer, and many insurers have own “standard” clauses.

The immediate and strategic value of an insurer’s reinsurance contract (or program) is often dependent on the time and effort spent researching known, unknown and emerging risks as well as preparing the contract drafts.  Poorly drafted reinsurance contracts often prove to be very expensive from disputed claims to ambiguous wording that does not reflect the contracting parties’ intent.