Reinsurance Operations
Claims Cooperation Clause
Definition
Treaty provision requiring the cedent to keep the reinsurer informed of large claims and obtain approval for settlements.
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Related Terms
Reinsurance Operations
Follow the Settlements
Reinsurance principle where the reinsurer accepts the cedent's claim settlements as valid, provided they were made in good faith.
Reinsurance Operations
Follow the Fortunes
Reinsurance doctrine requiring reinsurers to share both favorable and unfavorable developments in the cedent's business.