17:47B-10 Provision of reinsurance on risks ceded by other insurers.
10. a. A captive insurance company may provide reinsurance on risks ceded by any other insurer.
b.A captive insurance company may take credit for the reinsurance of risks or portions of risks ceded to reinsurers complying with the provisions of P.L.1993, c.243 (C.17:51B-1 et seq.). A captive insurance company shall not take credit for the reinsurance of risks or portions of risks ceded to reinsurers not complying with P.L.1993, c.243 (C.17:51B-1 et seq.).
c.For purposes of this act, insurance by a captive insurance company of any workers' compensation qualified self-insured plan of its parent and affiliates shall be deemed to be reinsurance.
L.2011, c.25, s.10.
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Last modified: October 11, 2016