§ 23-62-405. Required contract provisions — Reinsurance intermediary brokers
(a) Transactions between a reinsurance intermediary broker and the insurer it represents in such capacity shall only be entered into pursuant to a written authorization, specifying the responsibilities of each party. (b) The authorization shall, at a minimum, provide that: (1) The insurer may terminate the reinsurance intermediary broker’s authority at any time; (2) The […]
§ 23-62-406. Books and records — Reinsurance intermediary brokers
(a) For at least ten (10) years after expiration of each contract of reinsurance transacted by the reinsurance intermediary broker, the reinsurance intermediary broker will keep a complete record for each transaction showing: (1) The type of contract, limits, underwriting restrictions, classes or risks, and territory; (2) The period of coverage, including effective and expiration […]
§ 23-62-401. Short title
This subchapter may be cited as the “Reinsurance Intermediary Act”.