Title 12 : REINSURANCE

Sec. 95. A contract of reinsurance is one by which an insurer procures a third person to insure him against loss or liability by reason of such original insurance.

Sec. 96. Where an insurer obtains reinsurance, except under automatic reinsurance treaties, he must communicate all the representations of the original insured, and also all the knowledge and information he possesses, whether previously or subsequently acquired, which are material to the risk.

Sec. 97. A reinsurance is presumed to be a contract of indemnity against liability, and not merely against damage.

Sec. 98. The original insured has no interest in a contract of reinsurance.