New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter II - Agents, Brokers And Adjusters
Part 32 - Reinsurance Intermediaries
Section 32.4 - General provisions

(a) The term reinsurance as used in this Part shall apply to all forms of reinsurance coverage.

(b) Before a ceding insurer of its representative pays any premiums or fees to any reinsurance intermediary, such ceding insurer shall obtain evidence that the requirements of section 32.1(a)- (c), (e)-(f) of this Part have been complied with.

(c) The provisions of this Part apply to any person, firm, association or corporation acting as a reinsurance intermediary in this State.

(d) In the case of an insurance agent or insurance broker acting as a reinsurance intermediary in this State, such insurance agent or insurance broker shall be required to maintain a premium and loss account(s) separate from its premium account(s), required pursuant to Regulation 29 (11 NYCRR Part 20).

(e) The provisions of this Part shall not apply to the manager of a group, association or organization of insurers which engage in joint underwriting or joint reinsurance pursuant to the provisions of section 2317 of the Insurance Law, provided, such manager applies to and is granted an exemption by the superintendent.

(f) If any provision of this Part or the application thereof to any person or circumstances is held unauthorized by law, the remainder of this Part and the application of such provision to other persons or circumstances shall not be affected thereby.