§ 27-52-6 - Duties of insurers utilizing the services of a reinsurance intermediary – Broker. - Rhode Island Statutes

SECTION 27-52-6

   § 27-52-6  Duties of insurers utilizing theservices of a reinsurance intermediary – Broker. – (a) An insurer shall not engage the services of any person, firm, association,or corporation to act as a RB on its behalf unless that person is licensed asrequired by this chapter.

   (b) An insurer may not employ an individual who is employedby a RB with which it transacts business, unless that RB is under commoncontrol with the insurer and subject to the Insurance Holding Company SystemsAct, chapter 35 of this title.

   (c) The insurer shall annually obtain a copy of statements ofthe financial condition of each RB with which it transacts business.