claims cooperation clause
A claims cooperation clause is a clause in a reinsurance contract that requires the sharing of information between the cedent and reinsurer.
claims cooperation clause
A claims cooperation clause is a clause in a reinsurance contract that requires the sharing of information between the cedent and reinsurer.
Additional Information
In essence, it requires the cedent to provide prompt notice of and cooperate with its reinsurer in the handling of claims and may grant the reinsurer a "right to associate" in the defense of any claim, suit, or proceeding that may involve the reinsurance. The clause may also require written approval by the reinsurer for any compromise or settlement.
