1. Reinsurance Which system of law?
Peggy Sharon, Adv.
Levitan, Sharon & Co.
Israel
AIDA Europe - Budapest
27th November 2008

2. Applicable Law consumer protective
Insurance – Insurance Contract Law, 1981
consumer protective

3. Applicable Law
Reinsurance – General Contract Law

4. Possible Conflict Reinsured- Reinsurer English Law Insured – Insurer
Israeli Law
Insured – Insurer

5. Mind the Gap

6. Differences: Reasonable Defence Expenses:
Primary insurance: (Insurance Contract Law) above policy limit in Liability Insurance

7. Reinsurance (English) law – All within limit

8. Disclosure of Information
Full Disclosure
Reinsured- Reinsurer
Only Answers to
Questions
Insured – Insurer

9. Late Notification Reinsurance: Defence for reinsurer
Primary Insurance: Prejudice required

10. Filling the Gap
Court Ruling (Elbit):
to apply to both contracts – the same system of Law (Israeli)

11. In practice:
Cedent dictates same law as primary insurance

12. Thank You תודה Köszönöm

13. Reinsurance which system of law?
Peggy Sharon, Adv.
Levitan, Sharon & Co.
Israel
AIDA Europe - Budapest
27th November 2008