ARSD 20:06:31 – Credit for Reinsurance | Midpage

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Administrative Rules of South Dakota

Chapter 20:06:31

ARSD 20:06:31

Credit for Reinsurance

20:06:31:01Reinsurer licensed in this state.20:06:31:02Accredited reinsurers.20:06:31:03Reinsurer domiciled and licensed in another jurisdiction.20:06:31:04.01Group of incorporated insurers under common administration.20:06:31:04.02Trust liabilities.20:06:31:04.03Trust assets and investments.20:06:31:04.04Government obligations.20:06:31:04.05Securities ratings.20:06:31:04.06Organization for Economic Cooperation and Development.20:06:31:04.07Investment limitations.20:06:31:04.08Definition of mortgage-related security.20:06:31:04.09Equity interests.20:06:31:04.10Obligations guaranteed by multinational development banks.20:06:31:04.11Investment companies.20:06:31:04.12Limitations on investment companies.20:06:31:04.13Letters of credit.20:06:31:05Jurisdiction defined.20:06:31:05.01Security for risks located in foreign or alien jurisdictions.20:06:31:06Reduction from liability for reinsurance ceded to an unauthorized assuming insurer.20:06:31:07Trust agreements qualified under SDCL 58-14-16 -- Definitions.20:06:31:08Trust agreements qualified under SDCL 58-14-16 -- Required conditions.20:06:31:09Trust agreements in conjunction with reinsurance agreements covering certain risks.20:06:31:09.01Trust agreements established under SDCL 58-14-16.20:06:31:09.02Assets deposited in trust account.20:06:31:10Trust agreements qualified under SDCL 58-14-16 -- Permitted conditions.20:06:31:11Trust agreements qualified under SDCL 58-14-16 -- Additional conditions applicable to reinsurance agreements -- Assets.20:06:31:12Reinsurance agreements -- Transfer of assets.20:06:31:13Use of trust agreement to reduce liability for reinsurance.20:06:31:14Acceptability of existing trust agreements.20:06:31:15Actions of director unaffected by failure to identify beneficiary.20:06:31:16Other security.20:06:31:17Contracts affected.20:06:31:18Letters of credit qualified under SDCL 58-14-16.20:06:31:19Heading and term for letters of credit.20:06:31:20Letter of credit issued by a financial institution.20:06:31:21Reinsurance agreements in conjunction with letters of credit.20:06:31:22Interest payments and amounts drawn in excess.20:06:31:23Letters of credit and Uniform Customs and Practice for Documentary Credits.20:06:31:24Insolvency and intermediary clauses.20:06:31:25Certified reinsurers.20:06:31:26Certified reinsurers - certification procedure.20:06:31:27Certified reinsurers - ratings.20:06:31:28Certified reinsurers - prompt payment of claims.20:06:31:29Certified reinsurers - form filing.20:06:31:30Certified reinsurers - filing requirements.20:06:31:31Certified reinsurers - change in rating or revocation of certification.20:06:31:32Certified reinsurers - qualified jurisdictions.20:06:31:33Certified reinsurers - recognition of certification.