Reinsurance Law (R.A. 10607)

Section 97. 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.

Section 98. 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.

Section 99. A reinsurance is presumed to be a contract of indemnity against liability, and not merely against damage.

Section 100. The original insured has no interest in a contract of reinsurance.

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