Following the Fortunes Law and Legal Definition
‘Following the fortunes’ is a clause in a reinsurance contract stating that once a risk has been ceded by the reinsured, the reinsurer is bound by the same fate as that of the ceding company. According to this clause, the reinsurer is bound by the claims-handling decisions of its reinsured so long as there is no evidence of collusion with the insured, fraud, or bad faith.
