Alabama § 27-31B-13 Reinsurance

Alabama Statutes

§ 27-31B-13 — Reinsurance

Alabama·Title 27 Insurance·Ch. 31B Alabama Captive Insurers Act

(a)A captive insurance company may provide reinsurance, as authorized in this title, on risks ceded by any other insurer.

(b)A captive insurance company may take credit for reserves on risks or portions of risks ceded to reinsurers complying with Sections 27-5B-4 through 27-5B-9. A captive insurer shall not take credit for the reserves on risks or portions of risks ceded to reinsurers not complying with Sections 27-5B-4 through 27-5B-9.

(c)For all purposes of this chapter, insurance by a captive insurance company of any workers’ compensation plan of its parent and affiliates shall be deemed to be reinsurance.

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(a) A captive insurance company may provide reinsurance, as authorized in this title, on risks ceded by any other insurer.
(b) A captive insurance company may take credit for reserves on risks or portions of risks ceded to reinsurers complying with Sections 27-5B-4 through 27-5B-9. A captive insurer shall not take credit for the reserves on risks or portions of risks ceded to reinsurers not complying with Sections 27-5B-4 through 27-5B-9.
(c) For all purposes of this chapter, insurance by a captive insurance company of any workers’ compensation plan of its parent and affiliates shall be deemed to be reinsurance.

Alabama § 27-31B-13 (Reinsurance) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.