§8221 Regulation of credit for reinsurance and reinsurance agreements

Summary

If an insurer’s home state is NAIC‑accredited or has similar solvency rules and that state gives credit for reinsurance, other states must accept that credit. Except for taxes or assessments on insurers or insurance income, a state where the insurer is not based cannot override reinsurance deals. It cannot bar contract arbitration (unless that clause conflicts with federal arbitration law, Title 9), force its own law to control the contract or disputes, change the contract’s terms when enforcing it (unless that would conflict with this subchapter), or otherwise apply its laws to reinsurance of insurers not domiciled there.