Allemannia Fire Ins. Co. of Pittsburgh v. Firemen's Ins. Co. of Baltimore Ex Rel. Wolfe

Citations

• 209 U.S. 326
• 28 S. Ct. 544
• 52 L. Ed. 815
• 1908 U.S. LEXIS 1706

Syllabus

<p>Reinsurance has a well known meaning, and, as the usual compact of reinsurance has been understood in the commercial world for many years, the liability of the reinsurer is not affected by. the insolvency of the re-insured company or by the inability of the latter to fulfill its own con- . tracts with the original insured; and in this case the compact, notwithstanding it refers to losses paid, will be construed to cover losses payable by the reinsured .company; and, in a suit by the. receiver of that company on the compact, the fact of its insolvency and non-payment of the risks reinsured doés not constitute a defense.</p>