Any person who is an insurer of property, and therefore liable for its loss, whether as the insurer under a policy, or as common carrier, or in any other way, has an interest in the policy for which he may cause himself to be insured.

This is sometimes done by insurers who wish to divide their risks, or for any reason to be rid of a risk. It is most commonly done by insurance companies who wish to wind up their affairs, and for this purpose to cast off all their responsibilities. (w)

Re-insurers may make any defence in a suit on the policy, which the original insurers could have made in such a suit; (x)1 and it has been held, that if an insurer defends against an action on the policy brought by the original insured, he may recover from the re-insurer, not only the loss he has to pay, but the costs and expenses of his defence, unless the re-insurer neither expressly nor impliedly authorized the defence, or unless he can show that there was no ground for it whatever. (y) 2