Maine § 24-A §746 Duties of insurers utilizing the services of a reinsurance intermediary-broker

Maine Statutes

§ 24-A §746 — Duties of insurers utilizing the services of a reinsurance intermediary-broker

Maine·Title 24-A MAINE INSURANCE CODE·Ch. 9 KINDS OF INSURANCE; LIMITS OF RISK; REINSURANCE

1.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.

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.

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.

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1.
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.
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.
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.

Maine § 24-A §746 (Duties of insurers utilizing the services of a reinsurance intermediary-broker) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.