Negotiations on negotiation agreements can be complicated. Some types of insurance rights are filed well after the onset of the offence, as is the case with certain types of liability insurance. For example, problems with a building can only occur years after construction. Depending on the language of the reinsurance contract, the reinsurer may remain liable for claims against the policy taken out by the liability insurer. In other cases, claims may be invoked decades later. Insurance undertakings use reinsurance to reduce their overall risk in exchange for part of the premium. Reinsurers are responsible for the risks transferred, with coverage limits set out in the reinsurance contract. Reinsurance contracts can vary in length, but can last longer….