Wyoming § 26-47-104 Required contract provisions for reinsurance
intermediary brokers

Wyoming Statutes

§ 26-47-104 — Required contract provisions for reinsurance intermediary brokers

Wyoming § 26-47-104

Title 26Insurance Code

Ch. 47REINSURANCE INTERMEDIARIES

This text of Wyoming § 26-47-104 (Required contract provisions for reinsurance intermediary brokers) is published on Counsel Stack Legal Research, covering Wyoming primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Wyo. Stat. Ann. § 26-47-104 (2026).

Text

(a)Transactions between a reinsurance intermediary broker and the insurer it represents in such capacity shall only be entered into pursuant to a written authorization, specifying the responsibilities of each party. The authorization shall, at a minimum, provide that:

(i)The insurer may terminate the reinsurance intermediary broker's authority at any time;

(ii)The reinsurance intermediary broker shall render accounts to the insurer accurately detailing all material transactions, including information necessary to support all commissions, charges and other fees received by, or owing to, the reinsurance intermediary broker, and remit all funds due to the insurer within thirty (30) days of receipt;

(iii)All funds collected for the insurer's account shall be held by the reinsurance interme

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(a) Transactions between a reinsurance intermediary broker
and the insurer it represents in such capacity shall only be
entered into pursuant to a written authorization, specifying the
responsibilities of each party. The authorization shall, at a
minimum, provide that:
(i) The insurer may terminate the reinsurance
intermediary broker's authority at any time;
(ii) The reinsurance intermediary broker shall render
accounts to the insurer accurately detailing all material
transactions, including information necessary to support all
commissions, charges and other fees received by, or owing to,
the reinsurance intermediary broker, and remit all funds due to
the insurer within thirty (30) days of receipt;
(iii) All funds collected for the insurer's account
shall be held by the reinsurance intermediary broker in a
fiduciary capacity in a bank which is a qualified United States
financial institution;
(iv) The reinsurance intermediary broker shall comply
with W.S. 26-47-105;
(v) The reinsurance intermediary broker shall comply
with the written standards established by the insurer for the
cession or retrocession of all risks;
(vi) The reinsurance intermediary broker shall
disclose to the insurer any relationship with any reinsurer to
which business will be ceded or retroceded.