(a) An authorized insurer shall obtain annually a copy of statements of the financial condition of each reinsurance broker that transacts business with the authorized insurer.
(b) An authorized insurer may not:
(1) engage the services of a person to act as a reinsurance broker on its behalf unless the person has complied with this subtitle; or
(2) employ an individual who also is employed by a reinsurance broker that transacts business with the authorized insurer, unless the reinsurance broker is under common control with the authorized insurer and is subject to Title 7 of this article.
(c) An authorized insurer that violates any provision of this subtitle is subject to the disciplinary and penalty provisions of §§ 4-113 and 4-114 of this article.
Structure Maryland Statutes
Title 8 - Entities That Act as Insurers
Subtitle 5 - Reinsurance Intermediaries
Section 8-503 - License Required; Qualifications of Reinsurance Intermediaries
Section 8-504 - Required Bonds or Other Security
Section 8-505 - Service of Process
Section 8-506 - Applications for License
Section 8-507 - Issuance of License
Section 8-508 - Scope of License
Section 8-509 - Term and Renewal of License
Section 8-510 - Addition or Deletion of Names on License
Section 8-512 - Examination of Reinsurance Intermediaries
Section 8-513 - Authorization to Act as a Reinsurance Broker
Section 8-514 - Records of Reinsurance Broker
Section 8-515 - Contracts Between Reinsurance Managers and Reinsurers
Section 8-516 - Records of Reinsurance Manager
Section 8-517 - Acts of Reinsurance Manager
Section 8-518 - Restrictions on Activities of Reinsurance Manager
Section 8-519 - Duties of Authorized Insurer; Prohibited Acts; Penalties
Section 8-520 - Duties of Reinsurer; Prohibited Acts; Penalties