Alabama Administrative Code
Title 482 - ALABAMA DEPARTMENT OF INSURANCE
Chapter 482-1-107 - REINSURANCE INTERMEDIARIES
Section 482-1-107-.03 - Who Must File
Universal Citation: AL Admin Code R 482-1-107-.03
Current through Register Vol. 42, No. 11, August 30, 2024
(1) The following must be licensed in this state as a reinsurance intermediary:
(a) Any person, firm, association or
corporation acting as a reinsurance intermediary broker (RB) in this state, if
the RB maintains an office (either directly or as a member or employee of a
firm or association, or an officer, director or employee of a corporation):
1. In this state, unless the RB is licensed
and appointed as an insurance producer of the reinsurer in this state or is a
licensed insurance broker in this state.
2. In another state, unless the RB is
licensed and appointed as an insurance producer of the reinsurer in this state,
or is a licensed insurance broker in this state, or is a licensed insurance
producer, broker or reinsurance intermediary in another state having a law
substantially similar to the Alabama Reinsurance Intermediary Act.
(b) Any person, firm, association
or corporation acting as a reinsurance intermediary manager (RM):
1. For a reinsurer domiciled in this state,
unless the RM is licensed and appointed as an insurance producer of the
reinsurer in this state.
2. In this
state, if the RM maintains an office (either directly or as a member or
employee of a firm or association, or an officer, director or employee of a
corporation) in this state, unless the RM is licensed and appointed as an
insurance producer of the reinsurer in this state.
3. In another state for a nondomestic
reinsurer (which is a duly licensed insurer in this state), unless the RM is
licensed and appointed as an insurance producer of the reinsurer in this state,
or is a licensed insurance producer or reinsurance intermediary in another
state having a law substantially similar to the Alabama Reinsurance
Intermediary Act.
(2) Licensed attorneys at law of this state, when acting in their professional capacity, shall be exempt from this chapter.
Author: Commissioner of Insurance
Statutory Authority: Code of Ala. 1975, §§ 27-2-17, 27-5A-12.
Disclaimer: These regulations may not be the most recent version. Alabama may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
