New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter IV - Financial Condition Of Insurer and Reports to Superintendent
Subchapter D - Reinsurance
Part 125 - Credit For Reinsurance
Section 125.7 - Certificate of recognition

Universal Citation: 11 NY Comp Codes Rules and Regs ยง 125.7
Current through Register Vol. 46, No. 39, September 25, 2024

The superintendent may issue a certificate of recognition as an accredited reinsurer to each assuming insurer that is complying with the provisions of section 125.4(a), (b), (c) or (d) of this Part. The superintendent may issue a certificate of recognition as a certified reinsurer to each assuming insurer that is complying with the provisions of section 125.4(h) of this Part. The superintendent may issue a certificate of recognition as a reciprocal jurisdiction reinsurer to each assuming insurer that complies with section 125.4(i) of this Part. No ceding insurer shall take credit for reinsurance recoverables from such an assuming insurer unless such assuming insurer has a valid certificate of recognition in force. Such certificate shall have a continuous term until revoked, suspended or otherwise terminated by the superintendent.

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