Insurance Co. of North America v. Hibernia Insurance

Citations

• 140 U.S. 565
• 11 S. Ct. 909
• 35 L. Ed. 517
• 1891 U.S. LEXIS 2485

Syllabus

<p>A contract of-reinsurance to the whole extent of the original insurer’s liability is valid, in the absence of usage or stipulation to the contrary.</p> <p>An open policy of insurance, executed in .one State and sent to another, and taking effect by acceptance of risks under it by the insurer’s agent there,is not affected by local usage of the place where it was executed. ;</p> <p>A policy of reinsurance, limited to the excess of the original insurer’s risk above a certain sum, does not prevent him from reinsuring himself elsewhere within that sum.</p>