Maryland Statutes
Subtitle 1 - Broker Controlled Business
Section 8-106 - Placement or Acceptance of Business by Reinsurance Intermediary

(a)    In this section, “reinsurance intermediary” means a person that acts as an insurance producer in:
        (1)    soliciting, negotiating, or procuring a reinsurance contract or binder for a ceding insurer; or
        (2)    accepting a reinsurance contract or binder for an assuming insurer.
    (b)    This section does not apply to a reinsurance intermediary that makes a complete written disclosure to the parties of its relationship with the assuming or ceding insurer before completion of the transaction.
    (c)    A reinsurance intermediary that has control of an assuming insurer may not directly or indirectly place insurance business with the assuming insurer in a transaction in which the reinsurance intermediary acts as an insurance producer for the ceding insurer.
    (d)    A reinsurance intermediary that has control of a ceding insurer may not directly or indirectly accept business from the ceding insurer in a transaction in which the reinsurance intermediary acts as an insurance producer for the assuming insurer.

Structure Maryland Statutes