TITLE 41

INSURANCE

CHAPTER 5

KINDS OF INSURANCE — LIMITS OF RISK — REINSURANCE

41-510.  "Reinsurance" defined. "Reinsurance" is a contract under which an originating insurer (called the "ceding" insurer) procures insurance for itself in another insurer (called the "assuming" insurer or the "reinsurer") with respect to part or all of an insurance risk of the originating insurer.

History:

[41-510, added 1961, ch. 330, sec. 119, p. 645.]