™Your Policy Risk Impact Agent
49 chapters · 915 sections in this title.
22 V.I.C. § 1441 Short title
0.1K chars
This chapter may be cited as “The Virgin Islands Credit Reinsurance Act”.
22 V.I.C. § 1442 Definitions
1.7K chars
(a) The following terms have the following meaning:(a) An “Assuming insurer” means the company that assumes the risks from the insurance policy portfolio passed from a ceding insurer.(b) A “Ceding insurer” means an insurance company that passes a part or all of its risks from its…
22 V.I.C. § 1443 Credit Allowed a Domestic Ceding Insurer
98.8K chars
(a) Credit for reinsurance is allowed a domestic ceding insurer as either an asset or a reduction from liability on account of reinsurance ceded only when the reinsurer meets the requirements of subsections (c), (d), (e), (f), (g), (h) or (i); but the Commissioner may adopt regul…
22 V.I.C. § 1444 Asset or reduction from liability for reinsurance ceded by a domestic insurer to an assuming insurer not meeting the requirements of section 1443
4.1K chars
An asset or a reduction from liability for the reinsurance ceded by a domestic insurer to an assuming insurer not meeting the requirements of section 545 must be allowed in an amount not exceeding the liabilities carried by the ceding insurer; provided further, that the Commissio…
