Adam Strong
Adam specialises in dispute resolution in the insurance and reinsurance sector. Adam also has significant experience of commercial and investor/state international arbitration. He has acted in arbitrations under a number of the common institutional rules including ICSID, ICC, ARIAS, UNCITRAL and LCIA. Adam has higher rights of audience and his court experience includes a number of cases that have progressed to the Court of Appeal. He also has experience of asset preservation and freezing orders.
Adam’s insurance experience encompasses a number of classes of business including financial institutions, professional indemnity, product liability, warranty and indemnity, cyber, and commercial general liability. His reinsurance experience is equally extensive and, in particular, includes advising clients on disputes involving some of the more unusual hybrid reinsurance/capital markets products.
Adam is recommended as a key lawyer in the current edition of Legal 500 2024. He upholds an excellent reputation among clients who say that “Adam Strong is very solid” and that he “is singled out for his ability to run complex multi-track arbitrations”. Another observer in Legal 500 said that he has “a great combination of technical ability, commercial sensitivity and strategic acumen.”
Practice Area
Panel
- Contributing Author
Qualified Year
- 2003
Qualifications
- Higher Rights (2007)
- LPC (2001)
- LLB (2000)
Education
- College of Law LPC (2001)
- University of Exeter (2000)
2 Contributions by Adam Strong
PRACTICE NOTES
Reinsurance in the UK: market, facultative and treaty structures, proportional and non-proportional covers, key legal concepts and regulation
This Practice Note offers a primer on the reinsurance market—what it is, how it operates, and the core ideas that underpin it.
What is reinsurance?
Reinsurance is cover for insurers. It is an insurance contract bought by an insurer—often via a specialist reinsurance broker—to protect that insurer’s liabilities. In practice, the reinsurance agreement can sometimes be set up before the underlying insurance contract to which it relates. Reinsurance can address a wide range of risks—life, property, third-party liabilities and cyber—in much the same way as insurance.
Purpose of reinsurance
The reinsurance sector is a vital global business and the backbone of the insurance market. It serves several key purposes, including:
enabling insurers to spread the financial risk assumed when writing policies, reducing volatility and smoothing loss experience, and protecting against major catastrophes and events (such as hurricanes, wildfires and earthquakes)
reducing the regulatory capital that insurers are required to hold
allowing an insurer to move into new lines of business with which it is less familiar
Reinsurance is also used in the context of fronting. This is an arrangement where the reinsured reinsurers...
Insurance & Reinsurance
PRACTICE NOTES
Reinsurance loss settlement clauses under English law: follow the settlements, qualified Hill v Mercantile & General provisions, proof of loss, and interaction with claims co-operation and control clauses
Loss settlement clauses
Reinsurance agreements can be set up on a proportional or a non‑proportional basis, and loss settlement clauses appear across both structures. Their core role is to capture the parties’ consensus on how the reinsured can evidence its loss when seeking to recover under the reinsurance. It documents the evidential route and threshold to be followed in presenting any reinsurance claim, where applicable by the reinsured party. Where the reinsurer has adequate confidence in its cedant’s handling of inwards claims, the usual aim is to ease the reinsured’s evidential burden that would otherwise arise at common law, and to reduce the need for reinsurers to re‑examine the underlying claims. Certain loss settlement provisions also include express safeguards or provisos to prevent the reinsurer’s bargain being defeated by binding settlements that fall outside the granted cover. Wording dealing with loss settlement may further be paired with incorporation language that brings across the terms and conditions of the underlying policy, aligning the extent of cover with that policy (commonly, though not solely, in proportional treaties). The classic illustration is the ‘full reinsurance clause’, which imports the original insurance terms into the reinsurance contract while also setting out the parties’ arrangements as to the...
Insurance & Reinsurance
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