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ADDITIONAL INSURANCES / PART VI / Clause 17
REINSURANCE
17.1 Individual risks
The Managers may reinsure on behalf of the Association the whole or any part of risks arising in connection with any insurance upon such terms and with such reinsurers as the Managers shall consider appropriate.
17.2 Risks of the Association
The Managers may reinsure or cede on behalf of the Association the whole or any part of the risks of the Association with such reinsurers and on such terms as the Managers shall consider appropriate.
17.3 Reinsurance recoveries
Notwithstanding the LIMIT OF LIABILITY stated in the Certificate of Insurance and/or Part IV Clause 9 Limitation of liability and/or Part VI Clause 7.3.5 Limit of liability of the insurance, unless otherwise agreed in writing, where reinsurance is arranged in accordance with Clause 17.1 and/or Clause 17.2 above, the Assured shall have no entitlement to recovery from the Association excess of the net amount recoverable and collected under such reinsurance arrangements together with that portion (if any) of the risk or risks retained by the Association.