Insurance-linked securities: cat bond, cat fight

In hindsight, 2013 may be seen as the year in which insurance-linked securities (ILSs) became truly mainstream. ILS products such as catastrophe bonds, industry loss warranties (ILWs) and collateralised reinsurance became more popular and, importantly, products that traditional P&C reinsurers started to actively engage with and underwrite.

ILS products are seen by investors as a simple and uncorrelated asset class yielding reliable returns, with the perceived advantage that their simplicity eliminates the risk of disputes. External reporting indices allow the parties to know precisely when a policy is triggered and for how much.

But is it really that simple? Disputes in the ILS arena are more prevalent than one might think. Many ILS contracts contain confidential arbitration provisions meaning that disputes are often kept out of the press…

Click on the link below to read the rest of the Ince & Co briefing.

Sign in or Register to continue reading this article

Sign in


It's quick, easy and free!

It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.

Register now

Why register to The Lawyer


Industry insight

In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.


Market intelligence

Identify the major players and business opportunities within a particular region through our series of free, special reports.


Email newsletters

Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.

More relevant to you

To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.

Briefings from Ince & Co

View more briefings from Ince & Co

Analysis from The Lawyer


International House
1 St Katharine's Way

Turnover (£m): 86.70
No. of lawyers: 273 (UK 200)
Offices: 4
Qualified lawyers: 53 (estimated)
(International 50)
Partners: 18