Title INS, California Ins. Code

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 with this chapter. (Added by Stats. 1991, Ch. 1009, Sec. 1.)

(a) A reinsurance intermediary shall comply with any order of a court of competent jurisdiction or a duly constituted arbitration panel requiring the production of nonprivileged documents by the reinsurance intermediary, or the testimony of an employee or other individual otherwi…

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 the Society of Actuaries, and is qualified to sign statements of actuarial opinion on loss reserves. (b) “Controlling pe…

(a) No person, firm, association, or corporation shall act as a reinsurance intermediary-broker in this state unless licensed as follows: (1) If the reinsurance intermediary-broker maintains an office, (either directly or as a member or employee of a firm or association, or an of…

Transactions between a reinsurance intermediary-broker and the insurer it represents in that 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 specifying…

(a) For at least 10 years after expiration of each contract of reinsurance transacted by a reinsurance intermediary-broker, the reinsurance intermediary-broker shall keep a complete record for each transaction, including all of the following: (1) The type of contract, limits, und…

(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 the person is licensed as required by subdivision (a) of Section 1781.3. (b) An insurer may not employ an individual who …

Transactions between a reinsurance intermediary-manager and the reinsurer it represents in that capacity shall only be entered into pursuant to a written contract specifying the responsibilities of each party, which shall be approved by the reinsurers’s board of directors. Before…

The reinsurance intermediary-manager shall not do any of the following: (a) Directly or indirectly receive any compensation for the placement of retrocessions on behalf of the reinsurer. (b) Bind any retrocession which would increase the contractual limit made available to the re…

(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, unless the person is licensed as required by subdivision (b) of Section 1781.3. (b) A reinsurer shall annually obtain a copy …