Terms of use

1. Who these terms are between

These terms govern your use of {{domain}} (“the site”), operated by {{owner}} (“we”, “us”). If you do not accept them, please do not use the site.

2. Educational purpose — not professional advice

Everything on the site is provided for general education about reinsurance concepts. It is not legal, regulatory, actuarial, accounting, broking, underwriting or financial advice, and no client, broker, adviser or professional relationship is created by your using it.

Reinsurance contracts are individually negotiated. Clause behaviour described here — hours clauses, ALAE treatment, reinstatement mechanics, ultimate net loss definitions, indexation and everything else — varies by market, by year and by placement. Where anything on this site differs from your actual wording, your wording governs. Do not structure, price, place, reserve or settle anything on the strength of what you read here; take proper advice on the contract in front of you.

3. Accuracy of the figures

All monetary amounts, rates, commissions, loss ratios and layer structures are illustrative and rounded for teaching. They are not market rates, benchmarks, quotations or indications of price. We take reasonable care that the arithmetic is internally consistent, but we give no assurance that any figure, method or characterisation is complete, current or correct for your purposes.

4. Permitted use

You may use the site freely for your own learning, and you may print individual term pages for personal study or for internal training within your own organisation, provided the pages are not altered and the source is clear.

You may not, without our written permission:

• republish, redistribute or resell the content, in whole or in substantial part, whether or not for a fee;
• present the material as your own or as part of a commercial training product;
• scrape, mirror or systematically extract the content, or use it to train a machine-learning model;
• attempt to interfere with the site, its security, or its availability to others.

5. Intellectual property

The text, structure, design, code and figures on the site are owned by {{owner}} or used with permission, and are protected by copyright. The names of reinsurance concepts are of course industry terms of art and belong to nobody; the way they are explained, sequenced and illustrated here does not.

6. Your stored progress

Your learning progress is stored in your own browser and we hold no copy of it. We cannot restore it if you clear it, change device or lose access to that browser, and we are not responsible for its loss.

7. Availability

The site is provided free of charge and we give no undertaking that it will be available, uninterrupted or error-free. We may change, suspend or withdraw any part of it, or the whole of it, at any time and without notice.

8. No warranty and limitation of liability

The site is provided “as is” and “as available”. To the fullest extent permitted by law we exclude all warranties, conditions and representations, express or implied, including as to accuracy, fitness for a particular purpose and non-infringement.

To the fullest extent permitted by law, we are not liable for any loss or damage arising from your use of, or reliance on, the site — including any business loss, loss of profit, loss of contract, loss of anticipated saving, or any indirect or consequential loss. Nothing in these terms limits liability for death or personal injury caused by negligence, for fraud, or for anything else that cannot lawfully be limited.

9. Links to other sites

Where we link elsewhere, we do so for convenience. We do not control those sites and are not responsible for their content, accuracy or privacy practices.

10. Changes to these terms

We may revise these terms from time to time. The version published here when you use the site is the version that applies, and the date at the top shows when it last changed.

11. Governing law

These terms and any dispute arising out of them are governed by the laws of {{jurisdiction}}, and the courts of {{jurisdiction}} have exclusive jurisdiction.

Questions about these terms: {{email}}.