CHAPTER 6.5. Reinsurance Intermediaries
Chapter 6.5 added by Stats. 1991, Ch. 1009, Sec. 1.
§§ 1781.1–1781.14 · 14 sections
- § 1781.1 This chapter shall be known and may be cited as the Reinsurance Intermediary Act.
- § 1781.2 As used in this chapter: (a) “Actuary” means a person who is a member in good standing of the American Academy of Actuaries, the Casualty Actuarial Society, or…
- § 1781.3 (a) No person, firm, association, or corporation shall act as a reinsurance intermediary-broker in this state unless licensed as follows: (1) If the…
- § 1781.4 Transactions between a reinsurance intermediary-broker and the insurer it represents in that capacity shall only be entered into pursuant to a written…
- § 1781.5 (a) For at least 10 years after expiration of each contract of reinsurance transacted by a reinsurance intermediary-broker, the reinsurance intermediary-broker…
- § 1781.6 (a) An insurer shall not engage the services of any person, firm, association, or corporation to act as a reinsurance intermediary-broker on its behalf unless…
- § 1781.7 Transactions between a reinsurance intermediary-manager and the reinsurer it represents in that capacity shall only be entered into pursuant to a written…
- § 1781.8 The reinsurance intermediary-manager shall not do any of the following: (a) Directly or indirectly receive any compensation for the placement of retrocessions…
- § 1781.9 (a) A reinsurer shall not engage the services of any person, firm, association, or corporation to act as a reinsurance intermediary-manager on its behalf,…
- § 1781.10 (a) A reinsurance intermediary shall be subject to examination by the commissioner. The commissioner shall have access to all books, bank accounts, and records…
- § 1781.11 (a) A reinsurance intermediary, insurer, or reinsurer found by the commissioner to be in violation of this chapter, after a hearing conducted in accordance…
- § 1781.12 The commissioner may adopt reasonable rules and regulations for the implementation and administration of this chapter.
- § 1781.13 No insurer or reinsurer may continue to utilize the services of a reinsurance intermediary on and after January 1, 1992, unless utilization is in compliance…
- § 1781.14 (a) A reinsurance intermediary shall comply with any order of a court of competent jurisdiction or a duly constituted arbitration panel requiring the…