Code of Maryland Regulations
Title 31 - MARYLAND INSURANCE ADMINISTRATION
Subtitle 05 - ASSETS, LIABILITIES, RESERVES, AND INVESTMENTS OF INSURERS
Chapter 31.05.08 - Credit for Reinsurance
Section 31.05.08.27 - Mandatory Funding Clause
Universal Citation: MD Code Reg 31.05.08.27
Current through Register Vol. 51, No. 19, September 20, 2024
In addition to the requirements of Regulations .14-.18 of this chapter, reinsurance contracts entered into or renewed under Regulations .24-.26 of this chapter shall include a funding clause, which requires the certified reinsurer to provide and maintain security in an amount sufficient to avoid the imposition of any unfavorable financial statement accounting treatment on the ceding insurer under this chapter for reinsurance ceded to the certified reinsurer.
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