With the backdrop of the approaching New Year and many insurance and reinsurance policies being renewed at 1.1., it seems that we will no doubt see the use of “ratings downgrade trigger clauses” reach another high. The ability of individual re/insurance buyers to cancel a policy ab-initio
Read more →Following S&P’s initial downgrade last month we noted that RSA faced a further risk to its rating without fresh equity. This reflected the fact that even prior to its recent problems RSA’s prospective capital was only consistent with an S&P ‘BBB’ range financial strength rating. At that
Read more →