(a) An insurer shall not engage the services of any person, firm, association or corporation to act as a reinsurance intermediary-broker on its behalf unless such person is licensed as required by section 38a-760b.
(b) An insurer may not employ an individual who is employed by a reinsurance intermediary-broker with which it transacts business, unless such reinsurance intermediary-broker is under common control with the insurer and subject to the provisions of sections 38a-129 to 38a-140, inclusive.
(c) The insurer shall annually obtain a copy of statements of the financial condition of each reinsurance intermediary-broker with which it transacts business.
(P.A. 92-112, S. 27, 35.)
Structure Connecticut General Statutes
Chapter 701e - (Insurance Administrators) Reinsurance Intermediary Act
Section 38a-750 to 38a-759. (Formerly Secs. 38-92r and 38-92u to 38-92cc - Insurance administrators.
Section 38a-760. - Short title: Reinsurance Intermediary Act.
Section 38a-760a. - Definitions.
Section 38a-760b. - Licensing. Service of process.
Section 38a-760c. - Written authorization in certain transactions.
Section 38a-760d. - Record of transactions. Insurers' right to access.
Section 38a-760e. - Prohibited practices of insurers. Annual statements of financial condition.
Section 38a-760g. - Reinsurance intermediary-manager: Prohibited practices.
Section 38a-760h. - Licensing of reinsurers.
Section 38a-760i. - Records. Commissioner's power to examine.