Reinsurance Update

Following recent changes in the regulation of reinsurance, contracts of reinsurance for Australian insurers must be governed by Australian law. However, Australia is a federation and laws vary between States and Territories. As two recent decisions illustrate, insurers should further specify which Australian jurisdiction governs the contract, and be aware of the implications that the choice of jurisdiction may have on their reinsurance arrangements.

Significant cases, legislation or articles referred to

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