Section 746 - Duties of insurers utilizing the services of a reinsurance intermediary-broker1.License requirements. An insurer may not engage the services of any person to act as a reinsurance intermediary-broker on the insurer's behalf unless that person is licensed as required by this subchapter. [1991, c. 828, §20(NEW).]
2.Status of intermediary-broker. An insurer may not employ an individual who is employed by a reinsurance intermediary-broker with which the insurer transacts business, unless such reinsurance intermediary-broker is under common control with the insurer and subject to section 222. [1991, c. 828, §20(NEW).]
3.Financial statements. The insurer shall annually obtain a copy of statements of current origin of the financial condition of each reinsurance intermediary-broker with which the insurer transacts business. These statements must be certified reports or reviews performed by a certified public accountant. [1991, c. 828, §20(NEW).]
1991, c. 828, § 20 (NEW) .