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Claims management
• Claims cooperation clauses can help to clarify questions of liability.
• Claims notification clauses assist in the setting of adequate reserves.
• IBNR is the term used to describe claims which have not been reported to the reinsured. As the reinsurer’s
exposure is excess of the reinsured’s retention, IBNR tends to be an important consideration for the reinsurer.
• IBNER is the term used to describe claims which have been undervalued by the reinsured.
• Reinsurers seek to achieve prompt notification of claims and to secure accurate claims reserves by the extended
claims reporting clause, and by technical claims audits. Reference copy for CII Face to Face Training
11
Chapter
