Regulation of Reinsurance Intermediaries | Midpage

Collections
Kansas Statutes

Article 45

Regulation of Reinsurance Intermediaries

40-4501Citation of act 40-4502Definitions 40-4503Licensure of reinsurance brokers, managers and intermediaries; authorization of commissioner to set and publish application fee; nonresidents, designation of agent for service of process; refund of commissioner to issue license; exemption for attorneys 40-4504Contracts between reinsurance brokers and insurers; written authorization required, contents 40-4505Same; records to be maintained by reinsurance broker; rights of insurer to access, copy and audit records 40-4506Same; conditions; broker to provide insurer annual statement of financial condition 40-4507Contracts between reinsurance managers and reinsurers; writing and commissioner's approval required; contents 40-4508Same; reinsurance managers precluded from taking certain actions 40-4509Same; conditions; manager to provide reinsurer annual statement of financial condition; actuarial opinion on adequacy of loss reserves; authority over retrocessional contracts and syndicate participation; notice of contract termination to commissioner; reinsurance manager, officers, directors, employees, controlling shareholders and subproducers ineligible for appointment to reinsurer board 40-4510Examination; access to books, bank accounts and records 40-4512Rules and regulations 40-4513Continuation of existing contracts