Section 58-1-18 - "Reinsurance" defined.
58-1-18. "Reinsurance" defined. Reinsurance is a contractual arrangement under which one insurer or self-insurer transfers to another insurer some or all of the loss incurred by the primary insurer or self-insurer under contracts it has issued or coverage it has provided or will provide in the future.
Source: SL 1994, ch 61, § 2.