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Title 15, Commerce and TradeRelease 119-110

§8223 Definitions

Title 15 › CHAPTER 108 — STATE-BASED INSURANCE REFORM › SUBCHAPTER II — REINSURANCE › § 8223

Last updated Sep 22, 2026|Official source

Summary

Defines key insurance words used in this part of the law. A ceding insurer is an insurer that buys reinsurance. Domiciliary State (or State of domicile) is the State where an insurer or reinsurer is incorporated, entered through, and licensed. NAIC means the National Association of Insurance Commissioners or its successor. Reinsurance is when one insurer takes on all or part of a risk from another insurer. A reinsurer is an insurer mainly in the business of reinsurance, that does not write significant direct insurance or actively solicit direct insurance; whether it qualifies is decided by its State of domicile. State includes the 50 States, the District of Columbia, the Commonwealth of Puerto Rico, Guam, the Northern Mariana Islands, the Virgin Islands, and American Samoa.

Full Legal Text

Title 15, §8223

Commerce and Trade, Source: USLM XML via OLRC

For purposes of this subchapter, the following definitions shall apply:
(1)Ceding insurer
The term “ceding insurer” means an insurer that purchases reinsurance.
(2)Domiciliary State
The terms “State of domicile” and “domiciliary State” mean, with respect to an insurer or reinsurer, the State in which the insurer or reinsurer is incorporated or entered through, and licensed.
(3)NAIC
The term “NAIC” means the National Association of Insurance Commissioners or any successor entity.
(4)Reinsurance
The term “reinsurance” means the assumption by an insurer of all or part of a risk undertaken originally by another insurer.
(5)Reinsurer
(A)In general
The term “reinsurer” means an insurer to the extent that the insurer—
(i)is principally engaged in the business of reinsurance;
(ii)does not conduct significant amounts of direct insurance as a percentage of its net premiums; and
(iii)is not engaged in an ongoing basis in the business of soliciting direct insurance.
(B)Determination
A determination of whether an insurer is a reinsurer shall be made under the laws of the State of domicile in accordance with this paragraph.
(6)State
The term “State” includes any State of the United States, the District of Columbia, the Commonwealth of Puerto Rico, Guam, the Northern Mariana Islands, the Virgin Islands, and American Samoa.

Reference

Citations & Metadata

Citation

15 U.S.C. § 8223

Title 15, Commerce and Trade

Last Updated

Sep 22, 2026

Release point: 119-110