(1) The insurer under a contract of marine insurance has an insurable interest in his risk, and may reinsure in respect of it.
(2) Unless the policy otherwise provides, the original assured has no right or interest in respect of such reinsurance.
Section 11: Reinsurance.
The Marine Insurance Act, 1963Central Act · Act 11 of 1963
Where this provision sits
| Act | The Marine Insurance Act, 1963 |
|---|---|
| Section | 11 |
| Marginal note | Reinsurance. |
| Jurisdiction | Central |
| Status | In force as published by the source |
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