Section 375.1102 – Broker required for purchase of insurance — nonresident broker acceptable — notice to insured, contents.
Effective – 28 Aug 1991 375.1102. Broker required for purchase of insurance — nonresident broker acceptable — notice to insured, contents. — 1. No person, firm, association or corporation shall act or aid in any manner in soliciting, negotiating or procuring liability insurance in this state from a risk retention group unless such person, firm, […]
Section 375.1105 – Hazardous financial condition of group, prohibited from selling insurance, when — director may establish rules.
Effective – 28 Aug 1991 375.1105. Hazardous financial condition of group, prohibited from selling insurance, when — director may establish rules. — 1. An order issued by any district court of the United States enjoining a risk retention group from soliciting or selling insurance, or operating in any state, or in all states or in […]
Section 375.1110 – Citation of law.
Effective – 01 Jul 1992 375.1110. Citation of law. — Sections 375.1110 to 375.1140 may be cited as the “Reinsurance Intermediary Act”. ——– (L. 1991 H.B. 385, et al. § 37) Effective 7-01-92
Section 375.1112 – Definitions.
Effective – 01 Jul 1992 375.1112. Definitions. — As used in sections 375.1110 to 375.1140, the following terms mean: (1) “Actuary”, a person who is a member in good standing of the American Academy of Actuaries; (2) “Controlling person”, any person, firm, association or corporation who directly or indirectly has the power to direct or […]
Section 375.1115 – Reinsurance intermediary, license issued by director — requirements — attorneys exempt from requirements.
Effective – 01 Jul 1992 375.1115. Reinsurance intermediary, license issued by director — requirements — attorneys exempt from requirements. — 1. No person, firm, association or corporation shall act as an RB in this state if the RB maintains an office either directly or as a member or employee of a firm or association, or […]
Section 375.1117 – Transactions between insurer and broker, written authorization required — contents.
Effective – 01 Jul 1992 375.1117. Transactions between insurer and broker, written authorization required — contents. — Transactions between an RB and the insurer it represents in such capacity shall only be entered into pursuant to a written authorization, specifying the responsibilities of each party. The authorization shall, at a minimum, contain provisions that: (1) […]
Section 375.1120 – Records to be maintained by broker, duration — contents.
Effective – 01 Jul 1992 375.1120. Records to be maintained by broker, duration — contents. — 1. For at least twenty-three years after expiration of each contract of reinsurance of medical malpractice insurance and transacted by the RB, and for at least ten years after expiration of each contract of reinsurance or any other insurance […]
Section 375.1122 – Insurer’s use of broker, restrictions — financial condition statement required.
Effective – 01 Jul 1992 375.1122. Insurer’s use of broker, restrictions — financial condition statement required. — 1. An insurer shall not engage the services of any person, firm, association or corporation to act as an RB on its behalf, unless such person is licensed as required by subsection 1 of section 375.1115. 2. An […]
Section 375.1125 – Transactions between manager and insurer, written contract required, contents — records to be maintained by manager, contents.
Effective – 01 Jul 1992 375.1125. Transactions between manager and insurer, written contract required, contents — records to be maintained by manager, contents. — Transactions between an RM and the reinsurer it represents in such capacity shall only be entered into pursuant to a written contract, specifying the responsibilities of each party, which shall be […]
Section 375.1085 – Nonresidents, requirements — requirements prior to operation — premium taxes, liability for — examination by director — policy application, required provisions — prohibited acts — penalties.
Effective – 28 Aug 1992 375.1085. Nonresidents, requirements — requirements prior to operation — premium taxes, liability for — examination by director — policy application, required provisions — prohibited acts — penalties. — 1. Risk retention groups chartered and licensed in states other than this state and seeking to do business as a risk retention […]