What Does “Written as Such” Really Mean? (IRMI)

    View Authors 1 March 2014

    Reinsurance contracts often contain coverage grants and exclusions that set forth the specific classes of business or risk exposures covered or not intended to be protected or reinsured. A property treaty generally is not intended to cover losses arising from casualty risks. A lawyers professional liability excess-of-loss treaty most certainly is not intended to assume losses arising out of automobile accidents. A broad property and casualty quota share treaty covering commercial general liability (CGL) policies may not be intended to cover risks typically covered by stand-alone specific earthquake or flood policies. Typically, broad-based reinsurance contracts will contain specific coverage grants and also a list of exclusions specifying the lines of business or specific perils that are not intended to come within the contracts.