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Reinsurance clauses LGT 398 refer to specific provisions within reinsurance contracts that outline the terms and conditions of the agreement between the ceding insurer and the reinsurer. These clauses typically detail the responsibilities of each party, including coverage limits, premium calculations, claims handling procedures, and dispute resolution mechanisms. Understanding LGT 398 clauses is crucial for both insurers and reinsurers to ensure clarity and compliance with the terms of the reinsurance contract.
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What is Reinsurance clauses LGT 397?
This is a reinsurance wording clause commonly used in Liability treaty reinsurance. It excludes coverage for liabilities arising in the USA or Canada, but provides a limited write-back of coverage for certain products liability/public liability/employers liability and (in the case of the latest version of LGT 397) personal liability where such coverage is incidental to the underlying policy. - The reason for that is the widespread endeavour to immunize non-US-related reinsurance treaties against US-jurisdiction.
What is the LGT 400 clause in reinsurance?
The LGT 400 clause, commonly used in reinsurance contracts, pertains to the definition and treatment of loss occurrences. It typically establishes the framework for how losses are aggregated and reported under the agreement, ensuring clarity on what constitutes a single loss event. This clause is essential for determining coverage limits and the calculation of premiums. By clearly defining loss occurrences, it helps mitigate disputes between reinsurers and cedents regarding claims.
What is the population of LGT Group?
LGT Group's population is 1,950.
When was LGT Group created?
LGT Group was created in 1920.
What is Outward Reinsurance?
Reinsurance ceded by an insurer or re-insurer as opposed to inwards reinsurance which is reinsurance accepted.
Where is the LGT private banking group based?
The head office of the LGT private banking group is based in Vaduz, Liechtenstein. The LGT group is the largest family owned, private wealth and asset manager in Europe.
What lgt stands for in lgt 397?
In the context of LGT 397, "LGT" typically stands for "Lightweight Generic Transport." It refers to a specific protocol or framework used in various applications, particularly in telecommunications and data transmission. The number "397" may indicate a specific version, model, or designation within a particular system or standard.
When was Global Reinsurance created?
Global Reinsurance was created in 1990.
How do you abbreviate light?
The abbreviation for "light" is "lt."
Who are the buyers of reinsurance?
*Direct insurance company *Captive insurance company *Reinsurer However, there are no clear separation between buyers and sellers in reinsurance. Insurance company maybe a buyer (outward reinsurance) and a seller (inward reinsurance)
When was Reinsurance Group of America created?
Reinsurance Group of America was created in 1973.
What is the population of Reinsurance Group of America?
Reinsurance Group of America's population is 1,655.
