Chapter 8. Reinsurance of California Insurance Code >> Division 1. >> Part 1. >> Chapter 8.

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.

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

Where an insurer obtains reinsurance, 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.

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