What does Claims Cooperation Clause mean? Read on to discover the definition & meaning of the term Claims Cooperation Clause - to help you better understand the language used in insurance policies.
Claims Cooperation Clause
A clause in a reinsurance contract that requires the sharing of information between the cedent and reinsurer. In essence, it requires the cedent to provide prompt notice of and cooperate with its reinsurer in the handling of claims and may grant the reinsurer a "right to associate" in the defense of any claim, suit, or proceeding that may involve the reinsurance. The clause may also require written approval by the reinsurer for any compromise or settlement.
We hope the you have a better understanding of the meaning of Claims Cooperation Clause.