New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter IV - Financial Condition Of Insurer and Reports to Superintendent
Subchapter D - Reinsurance
Part 128 - Commutation Of Reinsurance Agreements
Section 128.0 - Purpose
Universal Citation: 11 NY Comp Codes Rules and Regs ยง 128.0
Current through Register Vol. 46, No. 39, September 25, 2024
Section 1321 of the Insurance Law authorizes the Superintendent of Financial Services to permit an impaired or insolvent domestic insurer or an impaired or insolvent United States branch of an alien insurer entered through this state to commute reinsurance agreements as a means of eliminating such an impairment or insolvency. This Part sets forth applicable standards that the superintendent will use in determining whether such commutations will be approved.
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