Section 11 of the Marine Insurance Act, 1963 – Reinsurance

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Section 11: Reinsurance

  • (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.

Source: official text of The Marine Insurance Act, 1963 as published on India Code (PDF). All sections of the Marine Insurance Act, 1963.

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