Bill Search

Credit for Reinsurance; Adds conditions under which ceding insurer must be allowed credit for reinsurance; revises attorney designation requirement in reinsurance agreements; defines "reciprocal jurisdiction" & "covered agreement"; specifies requirements for assuming insurers & reinsurance agreements; authorizes ceding insurer or its representative subject to rehabilitation, liquidation, or conservation to seek court order; specifies limitation on credit taken by ceding insurer; authorizes office to revoke or suspend assuming insurer's eligibility.