Idaho Code 41-510 – “Reinsurance” Defined
Current as of: 2023 | Check for updates
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Terms Used In Idaho Code 41-510
- Contract: A legal written agreement that becomes binding when signed.
"Reinsurance" is a contract under which an originating insurer (called the "ceding" insurer) procures insurance for itself in another insurer (called the "assuming" insurer or the "reinsurer") with respect to part or all of an insurance risk of the originating insurer.