Reinsurers' Rights To Inspect - A Closed Door?

Originally published in March 2002

The purpose of inspections by reinsurers is to "allow the reinsurer, who was exposed to some extent to liability which may be difficult to quantify at any given time, to monitor the manner in which the insurance company was writing business1 ", per Keane J. Simple, or is it?

Information critical to reinsurers' management and development of the underlying business is often limited to monthly or quarterly bordereaux of claims and premiums and the business being ceded may provide for a whole range of different terms, conditions and attachment point...

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