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All Jurisprudence based

0 tracked cards Commercial and Taxation Laws

A reinsurance agreement is silent on whether it indemnifies liability or only prior actual payment. The reinsurer asserts a universal presumption that nothing can be due until the original insurer first pays cash to its policyholder. Which Section 99 point is relevant?

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The statute presumes only actual damage in every case. The statutory presumption is indemnity against liability, not merely damage; a categorical contrary presumption is incorrect. The original insured must first become a reinsurer. Every claim is automatically payable regardless of contract and proof.

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