Principles of Reinsurance Contract Law (PRICL) II

• Applicant: Professor Dr. Manfred Wandt
• Subject Area: Private Law
• Term: from 2015 to 2024
• Project identifier: Deutsche Forschungsgemeinschaft (DFG) - Project number 267465484

1.1 The present application for funding is to be understood as a follow-up application to the project "Transnational Principles of Reinsurance Contract Law" ("PRICL I") SNF-Project No. 10001CL156053. The execution of the preceding project created a worldwide research network consisting of legal scholars from Europe, the USA, China, Japan, Brazil and South Africa. This research network is supported by two Advisory Groups, in which leading global players of the reinsurance industry are represented.1.2 In the context of the preceding project, the Project Group achieved much more than just the targeted "pilot project". The Project Group has developed important parts of a "private codification" of reinsurance contract law. As a result, a real codification (model law) is within feasible reach. The submitted follow-up application therefore first serves to complete the codification.1.3 In addition to the completion of the project, the implementation of the project results shall be initiated. From an academic point of view, the results must be published, further relevant publications need to be prepared and be presented and disseminated through lectures and discussion rounds. From a practical point of view, the advantages of concluding reinsurance contracts on the basis of PRICL must be communicated to the reinsurance protagonists, in particular the reinsurance brokers and the underwriters. At the same time, guidelines must be developed on how these protagonists can make use of PRICL. In addition, the insurance supervisory authorities (at national, European and international level) and the representatives of the UNIDROIT member states should be thoroughly integrated into the discourse.1.4 PRICL has already intensified the international scientific discourse on reinsurance law, which represents a globally systemically important financial services sector, by providing a uniform frame of reference and legal terminology. This discourse is to be deepened and continued.1.5 By addressing party autonomy under international civil law, in particular party autonomy under arbitration law, the PRICL offers the reinsurance industry the possibility of drafting and processing its contracts on the basis of a globally uniform and transparent reinsurance contract law.1.6 At the same time, the project execution will offer a framework for the relevant professional promotion of young talent. Especially by creating postdoctoral and doctoral positions, the promotion of young talent holds priority position right from the start.

• DFG Programme: Research Grants
• International Connection: Switzerland
• Cooperation Partner: Professor Dr. Helmut Heiss