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Texas Insurance Code - INS § 4152.152. Placement of Reinsurance with Unauthorized Reinsurer

Current as of January 01, 2024 | Updated by Findlaw Staff

Unless the ceding insurer releases the broker in writing from the broker's obligations under this section, a broker who places reinsurance on behalf of an authorized ceding insurer with a reinsurer that is not authorized, accredited, or trusteed in this state under Chapter 493 shall:

(1) exercise due diligence in inquiring into the financial condition of the reinsurer;

(2) disclose to the ceding insurer the broker's findings in connection with the inquiry under Subdivision (1);  and

(3) make available to the ceding insurer a copy of the current financial statement of the reinsurer.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 4152.152. Placement of Reinsurance with Unauthorized Reinsurer - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-4152-152/

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