§431:3-109 Reinsurance. Reinsurance means an insurance transaction where an insurer, for consideration, transfers any portion of the risk it has assumed to another insurer. In referring to reinsurance transactions, this code sometimes refers to the insurer transferring the risk as the ceding or withdrawing insurer, while the insurer assuming the risk is sometimes termed the assuming reinsurer or the reinsurer. [L 1987, c 347, pt of §2]
Attorney General Opinions
Third party liability coverage provided to the State is insurance, not reinsurance. Att. Gen. Op. 95-2.
Section: Previous 431-3-102 431-3-103 431-3-104 431-3-105 431-3-106 431-3-107 431-3-108 431-3-109 431-3-110 431-3-201 431-3-202 431-3-203 431-3-203.5 431-3-204 431-3-205 NextLast modified: October 27, 2016