17B:18-62. "Reinsurance" defined
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/nj/title-17b/chapter-18/17b-18-62·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
"Reinsurance" is a contract under which an originating insurer, called the "ceding insurer" , procures insurance for itself in another insurer, called the "assuming insurer," with respect to part or all of an insurance risk of the originating insurer.
L.1971, c. 144, s. 17B:18-62.