California Insurance Code 620 – A contract of reinsurance is one by which an insurer procures a third …
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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.
(Enacted by Stats. 1935, Ch. 145.)
Terms Used In California Insurance Code 620
- Contract: A legal written agreement that becomes binding when signed.
- Person: means any person, association, organization, partnership, business trust, limited liability company, or corporation. See California Insurance Code 19