Kuwait Court of Cassation principle number 2134

Reinsurance. It is a contract which, although differing in its subject matter from the original insurance contract, is subject to the rules established by the Maritime Commercial Law for marine insurance contracts concerning concealment, interest, multiple insurance, change of risk and limitation. It therefore follows the fate of the original insurance in nullity, rescission and lapse. Its import. - An action arising from a marine insurance contract. It becomes time-barred upon the lapse of two years from the date on which the third party brings proceedings against the insured or from the day on which the third party receives compensation from the insured by consent without a judicial claim. Art. 300 of the Maritime Commercial Law.