Contract “Uncertainty” in the Nordic Market?
1/2006
The old insurance industry practice of “deal now – details later” is no longer acceptable in today’s business climate. Although reforms have been made, there are some instances of slip-wordings being debated after the date of policy inception. As a result, Nordic and Continental insurers and reinsurers would do well to proactively work for reforms that would require contract certainty – rather than waiting for their domestic regulators to mandate it.
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