Guy Carp: UK Supreme Court ruling not an out clause for reinsurers

01 March 2021

The UK Supreme Court ruling on Covid business interruption losses and the definition of a loss "occurrence" cannot be extrapolated to a reinsurance context, a Guy Carpenter report argues.

Within the ruling, released in mid-January, the judges defined a loss occurrence as any distinct Covid case.

Some commentators have argued this would make it harder for insurers to aggregate claims under occurrence reinsurance treaties.

"This

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