On May 21, 2009 we announced the formation of a LinkedIn Commercial and Industry Arbitration and Mediation Group (post available here). At that time the group was 29 members strong, and we are pleased to report that the group has since grown to 100 members. There have been a number of interesting discussions, and group members have access to several ADR blogs, as well as articles posted by other group members. It is an excellent networking and educational opportunity for anyone interested in commercial and industry ADR.
We welcome new members. Persons who should consider joining this group include arbitrators; mediators; in-house and outside counsel; law professors; dispute-resolution consultants; members of ADR organizations; business entity representatives and principals whose day-to-day responsibilities include dispute resolution; and law students and other students of commercial and industry ADR.
If you are already a member of LinkedIn, please click here to apply for membership in the Group. If you are not a LinkedIn member, click here, and you will be guided through the process of creating a profile (which does not have to be completed in one step). Once your profile is started, and you have a log-in name and password, you can apply for membership in the Group. Joining LinkedIn is free, as is joining the group.
We hope you’ll join us and participate in the discussions!
I remember when I first heard the term “aggregate extension clause.” I was a couple of years out of law school and just getting my feet wet in reinsurance law and practice. Naturally, I had no idea of what an aggregate extension clause was or, for that matter, why someone would want to call something an “aggregate extension clause” in the first place, unless the principal objective was to confuse the reader. I envisioned some densely worded, obtuse, complex and hopelessly confusing provision designed to accomplish some obscure yet important purpose, the relevance of which was surely beyond my ken. I decided that I could read up on the clause, or ask a colleague about it, but I feared that the explanation – written or oral – would be at least as difficult to decipher as the clause itself, and probably more so. So I did my best to avoid even having to think about aggregate extension clauses — let alone deal with them — for as long as possible.
Eventually, of course, I had to face my fears and grapple with the seemingly elusive concept of “aggregate extension.” I quickly learned that my initial assessment was only partly correct: aggregate extension clauses are indeed densely worded, but the purpose of the clause is far more straightforward than I once assumed. Once I learned a little bit about the clause, I realized (or at least thought) that I could impress – or perhaps awe – my less experienced colleagues with it, and might even be able to use it to show my more experienced colleagues that I knew something about reinsurance. While I can’t say I obtained as much mileage out of my newfound knowledge as I expected, I am nevertheless glad that I invested a little time into learning about aggregate extension clauses.
In this Reinsurance Nuts & Bolts post we briefly discuss in very simple and basic terms what an aggregate extension clause is, and what it does. We also provide the reader with an example of some of the operative wording of an aggregate extension clause. Our discussion is not intended to be comprehensive; if anything, it is oversimplified. But it should give the reader a basic understanding of the topic. Continue Reading »
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The content of this blog is not intended to be legal advice and should not be construed as such.
The views expressed in this blog are solely those of the author and do not necessarily reflect
those of The Loree Law Firm or any of its current or former clients.