Reinsurance: Substance, range and importance
Reinsurance - at least in Serbian law - represents one of the institutes of Insurance Law of whom a little is known. It should not be surprising as the contract of reinsurance traditionally is not regulated in civil codes or laws on contract of insurance. Questionable are all features of the contrac...
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| Format: | Article |
| Language: | English |
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University of Belgrade, Faculty of Law, Belgrade, Serbia
2015-01-01
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| Series: | Anali Pravnog Fakulteta u Beogradu |
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| Online Access: | http://scindeks-clanci.ceon.rs/data/pdf/0003-2565/2015/0003-25651502078P.pdf |
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| _version_ | 1850145227691524096 |
|---|---|
| author | Petrović-Tomić Nataša |
| author_facet | Petrović-Tomić Nataša |
| author_sort | Petrović-Tomić Nataša |
| collection | DOAJ |
| description | Reinsurance - at least in Serbian law - represents one of the institutes of Insurance Law of whom a little is known. It should not be surprising as the contract of reinsurance traditionally is not regulated in civil codes or laws on contract of insurance. Questionable are all features of the contract of reinsurance: from the definition through the essentialia negotii to the principle of utmost good faith. That is why the paper is structured so that firstly gives definition of contract of reinsurance and explains position of reinsurance in the system of insurance. It is highlighted that the contract of reinsurance builds on the contract of insurance; which enables the further transfer of risk. It is business-to-business contract (B-2-B), concluded between insurance law experts; frequently of international character; mostly contract of adhesion, aleatory and synallagmatic contract, contract with subsequent execution, etc. The importance of reinsurance in the system of insurance is divided on three components: increase of capacity of insurance market, guarantee of acomplishment of obligations of insurer and regulatory effect on insurance. The author concludes that the contract of reinsurance is a specific business insurance contract, concluded by the insurance law experts and that represents community of interests of reinsurer and reinsured. The mentioned contract may perform its function only if the contracting parties act in a responsible manner, lege artis and respecting the principle of utmost good faith. |
| format | Article |
| id | doaj-art-c1e3476b66fb43fe8034280ab8d148fb |
| institution | OA Journals |
| issn | 0003-2565 2406-2693 |
| language | English |
| publishDate | 2015-01-01 |
| publisher | University of Belgrade, Faculty of Law, Belgrade, Serbia |
| record_format | Article |
| series | Anali Pravnog Fakulteta u Beogradu |
| spelling | doaj-art-c1e3476b66fb43fe8034280ab8d148fb2025-08-20T02:28:08ZengUniversity of Belgrade, Faculty of Law, Belgrade, SerbiaAnali Pravnog Fakulteta u Beogradu0003-25652406-26932015-01-01632789310.5937/AnaliPFB1502078P0003-25651502078PReinsurance: Substance, range and importancePetrović-Tomić Nataša0University of Belgrade, Faculty of Law, Belgrade, SerbiaReinsurance - at least in Serbian law - represents one of the institutes of Insurance Law of whom a little is known. It should not be surprising as the contract of reinsurance traditionally is not regulated in civil codes or laws on contract of insurance. Questionable are all features of the contract of reinsurance: from the definition through the essentialia negotii to the principle of utmost good faith. That is why the paper is structured so that firstly gives definition of contract of reinsurance and explains position of reinsurance in the system of insurance. It is highlighted that the contract of reinsurance builds on the contract of insurance; which enables the further transfer of risk. It is business-to-business contract (B-2-B), concluded between insurance law experts; frequently of international character; mostly contract of adhesion, aleatory and synallagmatic contract, contract with subsequent execution, etc. The importance of reinsurance in the system of insurance is divided on three components: increase of capacity of insurance market, guarantee of acomplishment of obligations of insurer and regulatory effect on insurance. The author concludes that the contract of reinsurance is a specific business insurance contract, concluded by the insurance law experts and that represents community of interests of reinsurer and reinsured. The mentioned contract may perform its function only if the contracting parties act in a responsible manner, lege artis and respecting the principle of utmost good faith.http://scindeks-clanci.ceon.rs/data/pdf/0003-2565/2015/0003-25651502078P.pdfContract of ReinsuranceRik EqualizationBusiness-to-Business ContractInternational ContractNew Law on Insurance |
| spellingShingle | Petrović-Tomić Nataša Reinsurance: Substance, range and importance Anali Pravnog Fakulteta u Beogradu Contract of Reinsurance Rik Equalization Business-to-Business Contract International Contract New Law on Insurance |
| title | Reinsurance: Substance, range and importance |
| title_full | Reinsurance: Substance, range and importance |
| title_fullStr | Reinsurance: Substance, range and importance |
| title_full_unstemmed | Reinsurance: Substance, range and importance |
| title_short | Reinsurance: Substance, range and importance |
| title_sort | reinsurance substance range and importance |
| topic | Contract of Reinsurance Rik Equalization Business-to-Business Contract International Contract New Law on Insurance |
| url | http://scindeks-clanci.ceon.rs/data/pdf/0003-2565/2015/0003-25651502078P.pdf |
| work_keys_str_mv | AT petrovictomicnatasa reinsurancesubstancerangeandimportance |