(a) For at least ten years after expiration of each contract of reinsurance transacted by the reinsurance intermediary-broker, the reinsurance intermediary-broker will keep a complete record for each transaction showing:

1. (1) The type of contract, limits, underwriting restrictions, classes or risks and territory;
2. (2) Period of coverage, including effective and expiration dates, cancellation provisions and notice required of cancellation;
3. (3) Reporting and settlement requirements of balances;
4. (4) Rate used to compute the reinsurance premium;
5. (5) Names and addresses of assuming reinsurers;
6. (6) Rates of all reInsurance Commissions, including the commissions on any retrocessions handled by the reinsurance intermediary-broker;
7. (7) Related correspondence and memoranda;
8. (8) Proof of placement;
9. (9) Details regarding retrocessions handled by the reinsurance intermediary-broker including the identity of retrocessionaires and percentage of each contract assumed or ceded;
10. (10) Financial records, including, but not limited to, premium and loss accounts; and

11. (11) When the reinsurance intermediary-broker procures a reinsurance contract on behalf of a licensed ceding insurer:

    1. (A) Directly from any assuming reinsurer, written evidence that the assuming reinsurer has agreed to assume the risk; or
    2. (B) If placed through a representative of the assuming reinsurer, other than an employee, written evidence that such reinsurer has delegated binding authority to the representative.