HONORABLE-ENGAGEMENT CLAUSE

honorable-engagement clause.Reinsurance. An arbitration provision in a reinsurance contract allowing the arbitrators to view the reinsurance arrangement reasonably — in line with the agreement’s general purposes — rather than strictly according to the rules of law or an overly technical interpretation of contract language. [Cases: Insurance  3626. C.J.S. Insurance § 1516.]

[Blacks Law 8th]