{
  "id": "clause-two-risk-warranty",
  "type": "clause",
  "languages": {
    "en": {
      "id": "clause-two-risk-warranty",
      "lang": "en",
      "type": "clause",
      "title": "Two-Risk Warranty",
      "shortDefinition": "The two-risk warranty requires that a loss claimed under a per-risk excess of loss treaty involves at least two independent risks or policies before cover responds.",
      "synonyms": [
        "Two risk warranty"
      ],
      "linesOfBusiness": [
        "Reinsurance"
      ],
      "jurisdictions": [
        "Global"
      ],
      "tags": [
        "Reinsurance",
        "Contract design"
      ],
      "relations": {
        "relatedTerms": [
          "term-excess-of-loss",
          "clause-warranty-of-retention"
        ],
        "partOf": [],
        "appliesTo": [
          "term-excess-of-loss"
        ],
        "regulatedBy": [],
        "relevantFor": [],
        "insurableVia": [],
        "mitigatedBy": [],
        "comprises": [],
        "alternativeTo": [],
        "complementedBy": []
      },
      "attribute": null,
      "profile": null,
      "coverageProfile": null,
      "clause": {
        "kind": "warranty",
        "origin": "reinsurance-market",
        "favours": "insurer",
        "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/two-risk-warranty/",
      "alternateUrl": "https://hgh.ch/lexikon/de/wissen/klausel/two-risk-warranty/",
      "body": "## Purpose\n\nPer-risk excess of loss treaties are designed to protect the cedent against a large loss on a single risk, not to serve as disguised proportional cover for ordinary individual losses. The two-risk warranty ensures that cover only responds where at least two independent risks are actually affected by the same loss occurrence – for example a major fire that spreads to a neighbouring risk.\n\n## Effect and limits\n\nIf only a single risk is affected, the loss remains entirely with the cedent, even if it exceeds the agreed retention. The warranty thus clearly distinguishes per-risk excess of loss from single-risk business and prevents the cover being used for losses that properly belong under proportional reinsurance or the cedent's own retention.\n\n## Negotiation and practice\n\nThe key point of dispute is the definition of an \"independent risk\" – for example whether different buildings of the same policyholder, or different policyholders, are meant. A precise contractual definition reduces the risk of interpretation disputes following a major loss."
    },
    "de": {
      "id": "clause-two-risk-warranty",
      "lang": "de",
      "type": "clause",
      "title": "Two-Risk Warranty",
      "shortDefinition": "Die Two-Risk Warranty verlangt, dass ein unter einem Per-Risk-Exzedentenvertrag gemeldeter Schaden mindestens zwei unabhängige Risiken oder Policen betrifft, damit die Deckung greift.",
      "synonyms": [
        "Zwei-Risiken-Klausel"
      ],
      "linesOfBusiness": [
        "Rückversicherung"
      ],
      "jurisdictions": [
        "Global"
      ],
      "tags": [
        "Rückversicherung",
        "Vertragsgestaltung"
      ],
      "relations": {
        "relatedTerms": [
          "term-excess-of-loss",
          "clause-warranty-of-retention"
        ],
        "partOf": [],
        "appliesTo": [
          "term-excess-of-loss"
        ],
        "regulatedBy": [],
        "relevantFor": [],
        "insurableVia": [],
        "mitigatedBy": [],
        "comprises": [],
        "alternativeTo": [],
        "complementedBy": []
      },
      "attribute": null,
      "profile": null,
      "coverageProfile": null,
      "clause": {
        "kind": "warranty",
        "origin": "reinsurance-market",
        "favours": "insurer",
        "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/two-risk-warranty/",
      "alternateUrl": "https://hgh.ch/lexikon/en/knowledge/clause/two-risk-warranty/",
      "body": "## Zweck\n\nPer-Risk-Exzedentenverträge sind darauf ausgelegt, den Zedenten gegen den Grossschaden an einem einzelnen Risiko abzusichern, nicht als verdeckte proportionale Deckung für gewöhnliche Einzelschäden zu dienen. Die Two-Risk Warranty stellt sicher, dass die Deckung nur greift, wenn tatsächlich mindestens zwei unabhängige Risiken vom selben Schadenereignis betroffen sind – etwa bei einem Grossbrand, der auf ein Nachbarrisiko übergreift.\n\n## Wirkung und Grenzen\n\nIst nur ein einzelnes Risiko betroffen, bleibt der Schaden vollständig beim Zedenten, selbst wenn er die vereinbarte Priorität übersteigt. Die Warranty grenzt damit den Per-Risk-Exzedenten klar vom Einzelrisikogeschäft ab und verhindert eine Zweckentfremdung der Deckung für Schäden, die eigentlich in die proportionale Rückversicherung oder den Selbstbehalt des Zedenten fallen.\n\n## Verhandlung und Praxis\n\nZentraler Streitpunkt ist die Definition von «unabhängigem Risiko» – etwa ob verschiedene Gebäude desselben Versicherungsnehmers oder verschiedene Versicherungsnehmer gemeint sind. Eine präzise Definition im Vertrag reduziert das Risiko von Auslegungsstreitigkeiten nach einem Grossschaden."
    }
  }
}