Cal. Insurance Code § 922.3

California · California Insurance Code · Status: effective · Effective 1997-01-01

Cite this

Citation: Cal. Insurance Code § 922.3, California, version 1 as recorded 2026-07-25, yourstate.us, https://yourstate.us/provision/877667
Permanent ID: ys:prov:877667@1
SHA-256: 6b7a4e18d21048d1d5d069670ffad408a7c703597fcc16425842b53046d4f9ef

The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.

Full text

Notwithstanding any other provision of law, credit for reinsurance, as either an asset or a deduction, shall not be allowed in any accounting or financial statement of the ceding insurer in respect to any so-called reinsurance contract unless, in such contract, the reinsurer undertakes to indemnify the ceding insurer, not only in form but in fact, against all or a part of the loss or liability arising out of the original insurance.