LEADER 02707nam 2200409Ka 450 001 9910831829803321 005 20240912105347.4 010 $a1-000-32910-0 035 $a(CKB)4950000000290153 035 $a(BIP)077166734 035 $a(ODN)ODN0005700460 035 $a(EXLCZ)994950000000290153 100 $a20221027d2021 uy 0 101 0 $aeng 135 $aurcn|---||||| 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 10$aReinsurance and the law of aggregation $eEvent, occurrence, cause. /$fOliver D William 210 $d2021 215 $a1 online resource 225 0 $aContemporary Commercial Law. 330 $aIn excess of loss reinsurance, the reinsurer covers the amount of a loss exceeding the policy's deductible but not piercing its cover limit. Accordingly, a policy's quantitative scope of cover is significantly affected by the parties' agreement of a deductible and a cover limit. Yet, the examination of whether a loss has exceeded deductible or cover limit necessitates an educated understanding of what constitutes one loss . In so-called aggregation clauses, the parties to (re-)insurance contracts regularly provide that multiple individual losses are to be added together for presenting one loss to the reinsurer when they arise from the same event, occurrence, catastrophe, cause or accident. Aggregation mechanisms are one of the core instruments for structuring reinsurance contracts. This book systematically examines each element of an aggregation mechanism, tracing the inconsistent usage of aggregation language in the markets and scrutinizing the tests developed by courts and arbitral tribunals. In doing so, it seeks to support insurers, reinsurers, brokers and lawyers in drafting aggregation clauses and in settling claims. Focusing on an analysis of primary sources, particularly judicial decisions, the book interprets each judicial decision to describe a system of inter-related rules, collating, organising and describing the English law of aggregation as applied by the courts and arbitral tribunals. It further draws a comparison between the English position and the corresponding rules in the Principles of Reinsurance Contract Law (PRICL). 606 $aNonfiction$2OverDrive 606 $aLaw$2OverDrive 610 $aInsurance Law 610 $aCommercial Law 610 $aLaw 615 17$aNonfiction. 615 7$aLaw. 676 $a346.0860122 686 $aLAW014000$aLAW014010$aLAW049000$2bisacsh 700 $aWilliam$b Oliver D$00 906 $aBOOK 912 $a9910831829803321 996 $aReinsurance and the law of aggregation$92996448 997 $aUNINA