§431:9B-105 - Duties of insurers utilizing the services of a reinsurance intermediary-broker. - Hawaii Statutes

     [§431:9B-105]  Duties of insurers utilizing the services of a reinsurance intermediary-broker.  (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 the person, firm, association, or corporation is licensed as required by section 431:9B-102.

     (b)  An insurer may not employ an individual who is employed by a reinsurance intermediary-broker with which it transacts business, unless the reinsurance intermediary-broker is under common control with the insurer and subject to article 11.

     (c)  The insurer shall annually obtain a copy of statements of the financial condition of each reinsurance intermediary-broker with which it transacts business. [L 1992, c 176, pt of §6]