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Snow Storms What does it all add up to

News / / Snow Storms What does it all add up to

It seems inevitable that all of this will be reflected in insurance claims and that may well raise questions about causation but also about the aggregation of those claims for reinsurance purposesnbspFor example, there may be issues over the number of events and how, if at all, those events should be separated where does the Beast from the East give way to Storm EmmaAnother issue which may arise is how the hours clause will be applied at the reinsurance levelnbspModern hours clauses often have much more flexible geographic requirements so that losses do not have to have occurred in the same place or area in order to be aggregated Thus, some clauses allow aggregation of losses arising from the same peril which occur within the specified time period anywhere in the same country, on the same continent or indeed anywhere in the world Clauses of this nature may, therefore, allow the aggregation of UK storm losses with those occurring in continental Europe These are issues which both cedants and reinsurer will no doubt be considering carefully both for the purposes of a presentation of existing claims and when considering future wordingsThe extent of the continent of Europe is sometimes a matter of debate in this context but perhaps one of the few certainties about Brexit is that it is unlikely to change that discussion
Simon Cooper

Simon Cooper Consultant

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