Understanding Reinsurance Terminology—Follow-the-Fortunes

Blog, Contract Interpretation, Follow-the-Settlements 1 Minute
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Over the past several years, I authored several reinsurance commentaries for my friends at International Risk Management Institute, Inc. (“IRMI”) on follow-the-fortunes and follow-the-settlements as part of IRMI’s Expert Commentary series on IRMI.com.

This month, I took the liberty of updating, revising and combining all the past Commentaries on the follow-the-fortunes doctrine and follow-the-settlements, including aggregation, into a new Commentary. You can read the new Commentary here. This is part of my series of Commentaries on reinsurance terminology. I hope you find it useful.

Published by Larry P. Schiffer, Schiffer Law & Consulting PLLC

After 38-years with boutique and global law firms, Larry P. Schiffer launched an independent legal and consulting practice, Schiffer Law & Consulting PLLC, where he provides services as a lawyer, counselor, consultant, mediator, arbitrator and expert witness. He practices commercial, insurance, and reinsurance litigation, arbitration, and mediation. He provides advice on a wide variety of insurance and reinsurance issues, including claims and disputes, policy wording analysis and drafting, insurance insolvency issues, due diligence for transactions and have insurance or reinsurance components, insurance and reinsurance education and other advice. He is available to appear for clients outside of NY at mediations and conferences as needed on a per diem basis. He is active in legal and trade associations where he has held various leadership positions. He has lectured and has been widely published on reinsurance and other insurance topics. He serves as an Expert Commentator on reinsurance for IRMI.com and co-authored the chapter on reinsurance in the New York State Bar Association’s Insurance Law Practice treatise. He is the editor of the ARIAS•U.S. Quarterly. Mr. Schiffer received his J.D. from Albany Law School, where he graduated cum laude, was a member of the Albany Law Review and a member of the Justinian Society, and received his B.A. magna cum laude from Brooklyn College of the City University of New York. He was admitted to practice in New York in 1980.

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