§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 home state allows credit for reinsurance on the risk the insurer ceded, then other states must also allow that credit and cannot refuse it. Except for state taxes or assessments on insurers or insurance income, other states cannot apply their laws to reinsurance for insurers not based there in ways that block agreed arbitration (unless it conflicts with title 9), force a particular state’s law to apply, change the contract’s terms, or otherwise try to regulate those reinsurance agreements.