The Principles of Reinsurance Contract Law. New Quality of Reinsurance Contracts

Abstract

The article presents an international project on reinsurance contract law: The Principles of Reinsurance Contract Law (PRICL), and assesses its potential practical application, also from the perspective of Polish market. The analysis of current problems arising from reinsurance contracts, i.e. legal uncertainty as to the law applicable and contractual relationship, explains the rationale behind the PRICL and stresses their importance. The arguments presented in the study are supported with the particularly vital practitioners’ voice. Furthermore, the article considers technical aspects of the PRICL application, such as their legal efficiency in court proceedings.