Reinsurance Contract Implications of Section 531 of the Nonadmitted and Reinsurance Reform Act of 2010

[Editor's note: Lindsay Doering has over 15 years of experience in the insurance and reinsurance industry. This includes drafting and reviewing reinsurance agreements on behalf of major reinsurers and brokers as well as providing legal advise to clients on compliance issues. He is with the Law Office of A. Lindsay Doering. www.lindsaydoering.com]

Section 531 "Regulation of Credit for Reinsurance and Reinsurance Agreements" of the Nonadmitted and Reinsurance Reform Act of 2010 (i) contains regulatory provisions that will undoubtedly affect the drafting and interpretation of reinsurance agreements. However, significant questions remain as to exactly how the federal government will implement these …