Alabama Administrative Code
Title 482 - ALABAMA DEPARTMENT OF INSURANCE
Chapter 482-1-156 - CREDIT FOR REINSURANCE
Section 482-1-156-.09 - Credit For Reinsurance Required By Law

Universal Citation: AL Admin Code R 482-1-156-.09
Current through Register Vol. 42, No. 11, August 30, 2024

Pursuant to Section 27-5B-9, the Commissioner shall allow credit for reinsurance ceded by a domestic insurer to an assuming insurer not meeting the requirements of Sections 27-5B-4, 27-5B-5, 27-5B-6, 27-5B-7, 27-5B-8, 27-5B-8.1, or other appropriate section of the Act, but only with respect to the insurance of risks located in jurisdictions where such reinsurance is required by the applicable law or regulation of that jurisdiction. As used in this rule, "jurisdiction" means any state, district or territory of the United States and any lawful national government.

Author: Commissioner of Insurance

Statutory Authority: Code of Ala. 1975, §§ 27-2-17, 27-5B-1, et seq.

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