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Pennsylvania Code

Chapter 163

31 Pa. Code Ch. 163

Requirements for Funds Held as Security for the Payment of Obligations of Unlicensed, Unqualified Reinsurers

163.1Definitions.163.2Purpose.163.3Scope.163.4Funds held in trust.163.5General requirements for trust agreements.163.6Requirements for assets held in trust accounts.163.7Duties and responsibilities of trustees.163.8Resignation or removal of trustee.163.9Termination of trust agreements.163.10Permitted provision in trust agreements.163.11Requirements for provisions in reinsurance agreements entered into in conjunction with trust agreements.163.12Accounting in statutory financial statements for credit for reinsurance secured by trust agreements.163.13Existing trust agreements and underlying reinsurance agreements.163.14Letters of credit.163.15Requirements for letters of credit.163.16Provisions in reinsurance agreements entered into in conjunction with letters of credit.163.17Accounting in statutory financial statements for credit for reinsurance secured by letters of credit.163.18Existing letters of credit.163.19Actions or rights of the Commissioner.163.20Other security acceptable to the Commissioner.