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Contract
Wording
The Brokers & Reinsurance Markets Association ("BRMA") presents the reinsurance clauses contained in this publication for the use of the insurance and reinsurance industries to improve the clarity of the contract and the efficiency of the marketplace. Clauses are accepted for inclusion in the reference book if substantively different from another clause and currently in use in two or more client reinsurance contracts. The clauses contained herein have been in use in the practice of the reinsurance business over a number of years and no representation is made by BRMA as to the specific intent under a clause.
A word of caution to the user of this Contract Wording Reference Book: The various clauses used herein will differ considerably as to the terminology: i.e., Company, Companies, Reinsured or Reassured may be used to identify the Cedant; and Reinsurer, Reinsurers or Underwriters may be used to identify the Assumer. Likewise, the document may be called Contract, Treaty or Agreement. The use of these nouns and whether they are singular or plural could have a significant effect on the interpretation of the clause and accordingly, in using different nouns, care should be taken to adopt consistent usage.
Copyright 1990 Brokers & Reinsurance Markets Association, Inc.
A limited, non-exclusive license is hereby granted to those individuals who have downloaded this book from the bulletin board to make copies of the materials contained in this book solely for the purpose of, and to the extent necessary for, use of the materials by such individuals in their conduct of the business of reinsurance.
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