Watch out for slip-ups
In light of the recent, highly publicised downgrades, what legal recourse may there be where the basis of a security rating is challenged, or a cedant suffers loss as a result of a rating that fails to reflect a reinsurer's financial strength?
Some reinsurers believe the recent downgrades are a reaction to concerns that are industry-wide rather than about individual companies. It has also been suggested that they are an attempt to counter
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