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Anexo III Tratado de reaseguro de excedente

Document Citado por Relacionados
Vincent
AutorMaría Concepción Hill Prados
Cargo del AutorProfesora Titular de Derecho Mercantil

SURPLUS REINSURANCE AGREEMENT made between ... (hereinafter called the "REINSURED") of the one part and ... (hereinafter called the "REINSURER") of the other part. IN CONSIDERARON of the payment of the premium as hereinafter provided it is agreed:

ARTICLE I

(a) The REINSURED shall cede and the REINSURER shall accept by way of reinsurance the proportion stated in the Schedule (hereinafter called the REINSURER' s proportion) of those insurances stated in the Schedule.

(b) The REINSURED shall decide what constitutes one risk hereunder and unless otherwise hereinafter provided shall fÌx its net retention without reference to the REINSURER in accordance with the usual net retentions of the REINSURED. If however the REINSURED shall know of the probability of a loss affecting this Agreement prior to either the fÌxing or revisiÛn of its net retention then the retention shall be not less than shown by its records and practices to be its usual net retention for similar risks. The usual net retentions of the REINSURED shall not be altered without the prior consent of the REINSURER.

(c) The REINSURED may in the interest of the REINSURER reduce the amount to be ceded in respect of any risk by effecting individual facultative reinsurances. The REINSURED may also effect catastrophe reinsurance to protect its net retained account.

(d) An insurance granted by the REINSURED wherein the

REINSURED is named as the Insured either alone or jointly with another party or parties shall not be excluded from this Agreement merely because no legal liability may arise in respect thereof by reason of the fact that the REINSURED be the Insured or one of the Insureds.

ARTICLE II

(a) The liability of the REINSURER in respect of each cession hereunder shall be subject to all the stipulations, clauses, waivers and modifications of the original policy and of any endorsement thereto except in so far as they are contrary to the terms of this Agreement.

(b) However , the liability of the REINSURER hereunder in respect of each claim shall not be increased by reason of the inability of the REINSURED to recover amounts from any other Reinsurers for any reason whatsoever.

ARTICLE III

(a) The REINSURED undertakes not to introduce, without the prior approval of the REINSURER, any change in its established acceptance and underwriting policy in respect of those insurances to which this Agreement relates.

ARTICLE IV

(a) The REINSURED shall maintain a record of all cessions hereunder and of all renewals and alterations thereto an these shall be advised as stated in the Schedule to the REINSURER on a bordereau form. Any error and/or inadvertent omission in this connection shall not prejudice the rights of either party but shall be corrected retrospectively upon discovery so that the parties hereto shall be placed in the same position as if the error and/or inadvertent omission had not occurred.

ARTICLE V

(a) The REINSURED shall pay to the REINSURER the REINSURER'S proportion of...

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