9/11 Highlights Need To Improve Conduct Of Reinsurance Business
The Sept. 11 tragedies touched virtually every fabric of our society, and the world of reinsurance is no exception. Relationships between cedent and reinsurer appear to be strained and worsening, and each player is focusing on its own respective liabilities associated with those unanticipated and tragic events.
In times such as these, reinsurance professionals ought to realize the need to pay closer attention to the way our industry conducts its business. Unexpected losses of huge magnitude can send normally amicable business partners running to attorneys to find ways to avoid liabilities that threaten to alter the fortunes of even well-established, risk-bearing entities.
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