Principles of Reinsurance
Contract Law
Legal certainty and clarity for reinsurance markets.
Welcome to PRICL!
Reinsurance law presents many challenges. A particular challenge is the lack of legal certainty in many national legal systems, which is exacerbated by the lack of uniformity. In pursuit of looking for a solution, academics and practitioners have joined forces to develop Principles of Reinsurance Contract Law (PRICL) providing the reinsurance market with uniform soft law rules which are ready to be used in practice.
PRICL 2025
Is Out Now!
Launched at the iconic Lloyd’s of London on 3 November 2025, PRICL 2025 is now officially out!
You can now order your hard copy or access the full Principles online for free.
We offer uniform soft law rules that are ready for use in practice
PRICL 2025 is a set of 37 Principles divided into 7 chapters.
Our Principles follow a transnational approach and are not bound to specific jurisdictions. They reflect globally recognized rules of reinsurance contract law while at the same time striving for modern and useful solutions.
Ensuring freedom of contract
PRICL 2025 Principles apply unless the parties have agreed otherwise.
When applying, PRICL 2025 ensures a fair balance between the interests of reinsurers and insurers.
Independent since 2016
Since the founding in 2016, our Swiss-based project has been independent of any industrial or political interests. We started as a science project funded by the Swiss National Science Foundation (SNF) and the German Research Foundation (DFG) and have now published our final product - PRICL 2025.
Collaboration of academics and practitoners from the first second
We are the first to unite the expertise of international academics and practitioners in the field of reinsurance contract law.
By bringing together legal talent from different jurisdictions and worldwide practical experience from the reinsurance market, PRICL offers an innovative legal framework for reinsurance contracts.
Private Translations of the PRICL 2019
The first PRICL edition—PRICL 2019—was translated into four languages. These translations are provided as helpful reference tools only and have not been formally adopted by the PRICL Project Group. They do not constitute official versions of the Principles.
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