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School of Law

SOLM255 Reinsurance Law and International Risk Transfer (B21)

Module Description

Reinsurance involves insurance (and reinsurance) companies insuring all or part of the risks they write with other (re)insurance companies.

Reinsurance is required by regulators but also makes business sense since it allows insurance companies to increase their capacity to write insurance. In this module we are looking at traditional reinsurance and innovative reinsurance solutions. We consider how reinsurance contracts are formed and how they can be structured. By reference to typical reinsurance market wordings, we will consider the interaction between the underlying insurance contract and the reinsurance contract and how their relationships impacts on the reinsurance terms and claims. We will also examine the structure and regulation of insurance-linked securities which are a means of risk transfer to, and of financing insurance risk in, the capital markets. London is one of the world centres of the reinsurance industry and the London reinsurance market is amongst the leaders in developing innovative reinsurance solutions. This module will provide a thorough understanding of this important and rapidly developing area of law and practice. English law is the governing law applied to Lloyd’s and London market insurance and reinsurance policies, and is frequently chosen as governing law for international reinsurance transactions. The LLM in Insurance Law, of which this module forms part, opens up lucrative career opportunities in the global insurance and reinsurance industry, the legal sector, management consultancies and the financial services industry generally.

Applicable Groupings

Mode of Assessment

3.15 hour examination

Credits

30 Credits