Cut-through clauses: a two-speed, double-edged tool
Cut-through clauses are a complex concept with many potential pitfalls with which those in the reinsurance industry may regularly need to engage, according to Emmanuèle Lutfalla and Nour Jonot, partner and associate respectively at the Paris office of Signature Litigation.
Great for business but risky when triggered, a cut-through clause is a powerful provision in a reinsurance agreement.
Typically worded in facultatives, it gives the insured direct access to the
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