Yesterday’s negotiation seeking the amendments of the “Wet Risks” exclusion wordings draw a flak with the lead reinsurers not giving way…. My intention was basically to get them to agree to the characteristics of wet risks which I have outlined in my blog of date 29 August 2009 – reiterating here in the following...
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Is the project site on or near any water filled environment? What is the percentage of the contract value that is of wet elements? Does the project has any incidental wet elements or is the whole project being a wet risk? Looks like this underwriter is making himself an impediment in the negotiation process. But...
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