A Fortunes Cookie For The U.S. Reinsurance Industry
By EsqSocial Corporation 05/01/21
Much of American law is derivative of British law, and this is particularly true in the realm of reinsurance law. In the UK, courts distinguish between ‘follow the fortunes clauses’ and ‘follow the settlements clauses’ and attribute different meanings to each, which is often a significant factor in the determining claims and coverage related issues. Unlike the UK, courts in the US appear not to distinguish between the two clauses, and often refer to them interchangeably, as was the case in...
By: Locke Lord LLP