West Virginia § 33-38-6 Duties of insurers utilizing the services of a reinsurance intermediary-broker

West Virginia Statutes

§ 33-38-6 — Duties of insurers utilizing the services of a reinsurance intermediary-broker

West Virginia·Ch. 33 Â INSURANCE·Art. 38 REINSURANCE INTERMEDIARY ACT

(a)An insurer may not engage the services of any person, firm, association or corporation to act as a reinsurance intermediary-broker on its behalf unless that person is licensed as required by subsection (a), section three of this article.

(b)An insurer may not employ an individual who is employed by a reinsurance intermediary-broker with which it transacts business, unless the reinsurance intermediary-broker is under common control with the insurer and subject to article twenty-seven of this chapter.

(c)The insurer shall annually obtain a copy of statements of the financial condition of each reinsurance intermediary-broker with which it transacts business.

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(a) An insurer may not engage the services of any person, firm, association or corporation to act as a reinsurance intermediary-broker on its behalf unless that person is licensed as required by subsection (a), section three of this article.

(b) An insurer may not employ an individual who is employed by a reinsurance intermediary-broker with which it transacts business, unless the reinsurance intermediary-broker is under common control with the insurer and subject to article twenty-seven of this chapter.

(c) The insurer shall annually obtain a copy of statements of the financial condition of each reinsurance intermediary-broker with which it transacts business.

West Virginia § 33-38-6 (Duties of insurers utilizing the services of a reinsurance intermediary-broker) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.