Article 7.1

(Reinsurance period)

(1)  The “reinsurance period” means the period of time during which, depending on the basis for loss allocation chosen by the parties, risks must attach or losses must occur or claims must be made in order to fall within the temporal scope of the contract of reinsurance.

(2)  The reinsurance period starts at the commencement date at 00:00 and ends at the end date at 24:00, both local time at the place of the reinsured’s head office at the time of formation of the contract of reinsurance.