{
  "id": "clause-intermediary-clause",
  "type": "clause",
  "languages": {
    "en": {
      "id": "clause-intermediary-clause",
      "lang": "en",
      "type": "clause",
      "title": "Intermediary Clause",
      "shortDefinition": "The intermediary clause contractually designates the broker as payment agent between cedent and reinsurer, so that payments to the broker are treated as payment to the other party.",
      "synonyms": [
        "Broker clause (reinsurance)"
      ],
      "linesOfBusiness": [
        "Reinsurance"
      ],
      "jurisdictions": [
        "Global"
      ],
      "tags": [
        "Reinsurance",
        "Settlement"
      ],
      "relations": {
        "relatedTerms": [
          "term-cedent",
          "term-reinsurer",
          "term-facultative-reinsurance"
        ],
        "partOf": [],
        "appliesTo": [
          "term-treaty-reinsurance",
          "term-facultative-reinsurance"
        ],
        "regulatedBy": [],
        "relevantFor": [],
        "insurableVia": [],
        "mitigatedBy": [],
        "comprises": [],
        "alternativeTo": [],
        "complementedBy": []
      },
      "attribute": null,
      "profile": null,
      "coverageProfile": null,
      "clause": {
        "kind": "condition",
        "origin": "reinsurance-market",
        "favours": "insured",
        "negotiability": "standard",
        "standardWordings": []
      },
      "legalBasis": [],
      "standards": [],
      "reviewStatus": "expert-reviewed",
      "reviewedBy": "Guido Hesse, Hesse Group Holding AG",
      "lastReviewed": "2026-09-04",
      "version": "0.1.0",
      "updated": "2026-09-03",
      "generated": {
        "by": "cursor-agent/claude-sonnet-5",
        "at": "2026-09-03T00:00:00.000Z"
      },
      "verified": [
        {
          "by": "human:ghesse",
          "at": "2026-09-04T00:00:00.000Z",
          "method": null
        }
      ],
      "staleAfter": null,
      "url": "https://hgh.ch/lexikon/en/knowledge/clause/intermediary-clause/",
      "alternateUrl": "https://hgh.ch/lexikon/de/wissen/klausel/intermediary-klausel/",
      "body": "## Purpose\n\nReinsurance is placed in many markets through brokers who collect premiums from the cedent and pass them on to the reinsurer, and claims payments in the other direction. The intermediary clause determines who bears the risk if the broker becomes insolvent before forwarding the funds.\n\n## Effect and limits\n\nUnder the market-standard wording, payment to the broker is treated as payment to the reinsurer (for premiums) or to the cedent (for claims) – so the cedent does not bear the broker's credit risk for premiums it has already paid. Without the clause, the reinsurer could still demand premium from the cedent after a broker's insolvency, even where the cedent has already paid the broker.\n\n## Negotiation and practice\n\nReinsurers sometimes prefer alternatives such as trust accounts or netting arrangements to limit their own counterparty risk vis-à-vis the broker. The precise wording determines which party bears the intermediary's credit risk."
    },
    "de": {
      "id": "clause-intermediary-clause",
      "lang": "de",
      "type": "clause",
      "title": "Intermediary-Klausel",
      "shortDefinition": "Die Intermediary-Klausel bestimmt den Makler vertraglich zum Zahlungsagenten zwischen Zedent und Rückversicherer, sodass Zahlungen an den Makler als Zahlung an die jeweils andere Partei gelten.",
      "synonyms": [
        "Maklerklausel Rückversicherung"
      ],
      "linesOfBusiness": [
        "Rückversicherung"
      ],
      "jurisdictions": [
        "Global"
      ],
      "tags": [
        "Rückversicherung",
        "Zahlungsverkehr"
      ],
      "relations": {
        "relatedTerms": [
          "term-cedent",
          "term-reinsurer",
          "term-facultative-reinsurance"
        ],
        "partOf": [],
        "appliesTo": [
          "term-treaty-reinsurance",
          "term-facultative-reinsurance"
        ],
        "regulatedBy": [],
        "relevantFor": [],
        "insurableVia": [],
        "mitigatedBy": [],
        "comprises": [],
        "alternativeTo": [],
        "complementedBy": []
      },
      "attribute": null,
      "profile": null,
      "coverageProfile": null,
      "clause": {
        "kind": "condition",
        "origin": "reinsurance-market",
        "favours": "insured",
        "negotiability": "standard",
        "standardWordings": []
      },
      "legalBasis": [],
      "standards": [],
      "reviewStatus": "expert-reviewed",
      "reviewedBy": "Guido Hesse, Hesse Group Holding AG",
      "lastReviewed": "2026-09-04",
      "version": "0.1.0",
      "updated": "2026-09-03",
      "generated": {
        "by": "cursor-agent/claude-sonnet-5",
        "at": "2026-09-03T00:00:00.000Z"
      },
      "verified": [
        {
          "by": "human:ghesse",
          "at": "2026-09-04T00:00:00.000Z",
          "method": null
        }
      ],
      "staleAfter": null,
      "url": "https://hgh.ch/lexikon/de/wissen/klausel/intermediary-klausel/",
      "alternateUrl": "https://hgh.ch/lexikon/en/knowledge/clause/intermediary-clause/",
      "body": "## Zweck\n\nRückversicherung wird in vielen Märkten über Makler platziert, die Prämien vom Zedenten einziehen und an den Rückversicherer weiterleiten, sowie Schadenzahlungen in die andere Richtung. Die Intermediary-Klausel regelt, wessen Risiko es ist, wenn der Makler zahlungsunfähig wird, bevor er die Gelder weitergeleitet hat.\n\n## Wirkung und Grenzen\n\nIn der marktüblichen Fassung gilt die Zahlung an den Makler als Zahlung an den Rückversicherer (für Prämien) beziehungsweise an den Zedenten (für Schäden) – der Zedent trägt damit nicht das Ausfallrisiko des Maklers für bereits gezahlte Prämien. Ohne die Klausel könnte der Rückversicherer bei Maklerinsolvenz weiterhin Prämie vom Zedenten verlangen, selbst wenn dieser bereits an den Makler bezahlt hat.\n\n## Verhandlung und Praxis\n\nRückversicherer bevorzugen teils Alternativen wie Treuhandkonten oder Netting-Vereinbarungen, um das eigene Gegenparteirisiko gegenüber dem Makler zu begrenzen. Die genaue Formulierung entscheidet, welche Partei das Kreditrisiko des Vermittlers trägt."
    }
  }
}