Md. Code Regs. 05.06.06.13

Current through Register Vol. 51, No. 22, November 1, 2024

Section 05.06.06.13 - Arrangements with Other Insurers

A. The Fund is authorized to enter into reinsurance and coinsurance arrangements, as approved by the Secretary.

B. The amount of any reinsurance or co-insurance may decrease the amount of the Fund reserves pledged to the Fund pool insurance policy only if the:

(1) Fund does not retain contingent liability under the reinsurance or co-insurance arrangement; or

(2) Reinsurer or coinsurer is a:

(a) Federal agency, or

(b) Private insurer having surplus as regards policy holders equal to at least $15,000,000, which is approved by FNMA or FHLMC.

Md. Code Regs. 05.06.06.13