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8/22 M97/February 2018 Reinsurance

Question answers

8.1 Overstatement rather than understatement of the loss record.
8.2 False. Under the laws of England and Wales, a warranty must be construed to produce the same effect in
back-to-back insurance and reinsurance contracts.
8.3 In the context of a follow the settlements clause: no, the onus is on the reinsurer to plead and prove any failure
to act in a proper and businesslike manner.

8 Reference copy for CII Face to Face Training
Chapter