Reinsurance Working Party
About The Reinsurance Working Party
Reinsurance is truly international with underwriters in one country reinsuring insurers situated in another as a matter of course. It is this which makes the aims of the Working Party, to encourage the development of international principles for the benefit of everyone involved with the business, so very valuable.
The Reinsurance Working Party was formed by AIDA, the International Insurance Law Association, in 1994, following the AIDA World Congress held in Sydney, in order to consider how particular aspects of reinsurance law operate in a range of jurisdictions. The Working Party is chaired by Colin Croly, Vice Chairman is Jorge Angell with Rob Merkin acting as secretary. A number of individuals from a variety of jurisdictions were invited to join the Working Party, and membership has risen to in excess of 40 leading reinsurers and lawyers from all over the world.
The Working Party has since its inception met on at least two occasions per year, and at its first meeting it determined that it would aim to produce an international library of comparative reinsurance law, to be built up by questionnaires on particular aspects of the law. The answers provided by various international members of the RWP form the basis of the published reports. The Working Party has published seven reports, namely 'What is Reinsurance?', 'Follow the Settlements', 'The Proper Law of Reinsurance Contracts', 'The Meaning of "Event" and Similar Phrases in Reinsurance Contracts', 'Evidence of Custom and Practice in the Interpretation of Reinsurance Contracts', 'Cut Through, Transfer and Reconstruction Issues' and 'Limitation Period in Reinsurance'. There are currently three questionnaires in circulation which can be accessed and answered online by clicking here.
For minutes of past meetings of the Working Party click here. To find out more about past and future meetings click here