The guiding principles of the maritime reinsurance contract

Abstract

Reinsurance is one of the most important contracts in the international arena but it lacks detailed regulation in most legal systems. The purpose of this study is to seek, identify and set out the fundamental principles in order to describe the nature of the maritime reinsurance contract. Thus, by means of these principles, the intention is to highlight the role of this concept as the basis of the international insurance system and to highlight its differences with the insurance contract in the strict sense of the word. The relevance of maritime reinsurance is explained by its usefulness, especially in international trade, since without this contract no shipping or insurance activity could operate.