1. The Bermuda International Conciliation and Arbitration Act 1993 (the "Act")
The way in which arbitration is commenced is usually governed by reference to the reinsurance contract under which a dispute has arisen. However, service of a demand for arbitration and a notice of the appointment of the claimant’s arbitrator is the most common method in which to commence reinsurance arbitrations. In most cases the reinsurance contract will make specific reference as to which country’s law should apply and in which place the arbitration will be held (however see Conflict of Law below at 8). If for example the reinsurance contract said that any dispute should be settled by way of Bermuda arbitration law, reference should be made to the Act. Although Bermuda also has the Arbitration Act 1986, which primarily govern domestic arbitrations the Act is most commonly referred to in international contracts of reinsurance.
