Market dynamics set to shine light on ‘follow the settlements’ clauses

23 Oct 2019

A hardening market increases the prospect of the contentious issue of follow the settlements clauses, which overwhelmingly favour cedants, finally coming before the Court of Appeal.

Commenting in a feature published in Insurance Day today, BLM head of London Market and reinsurance, Damian Cleary said: “A follow the settlements clause is a source of potential dispute and it is binary in nature - will the reinsurer follow: yes or no? - which a reinsurer will seek to avoid in a soft market.”

Click here to read the feature in full.

 

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Disclaimer: This document does not present a complete or comprehensive statement of the law, nor does it constitute legal advice. It is intended only to highlight issues that may be of interest to customers of BLM. Specialist legal advice should always be sought in any particular case.

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Damian Cleary

Damian Cleary

Partner and head of London Market & Reinsurance,
London


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