MARINE INSURANCE ACT 1909 - SECT 15 Re - insurance

MARINE INSURANCE ACT 1909 - SECT 15

  (1)   The insurer under a contract of marine insurance has an insurable interest in his or her risk, and may re - insure in respect of it.

  (2)   Unless the policy otherwise provides, the original assured has no right or interest in respect of such re - insurance.