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 375.1127 – Reinsurance manager, prohibited acts.
Effective – 01 Jul 1992 375.1127. Reinsurance manager, prohibited acts. — The RM shall not: (1) Bind retrocessions on behalf of the reinsurer, except that the RM may bind facultative retrocessions pursuant to obligatory facultative agreements if the contract with the reinsurer contains reinsurance underwriting guidelines for such retrocessions. Such guidelines shall include a list […]