(1) A resident reinsurance intermediary acting as a reinsurance intermediary manager shall maintain with the Director of the Department of Consumer and Business Services a current certificate of errors and omissions insurance in an amount established by the director by rule from an insurer authorized to do business in this state or from any other insurer acceptable to the director according to standards established by rule.
(2) If the director determines that errors and omissions insurance required under this section is not generally available at a reasonable cost, the director by rule may suspend the requirement of insurance, but must reimpose the requirement when the insurance becomes available once again. [1993 c.447 §83; 2003 c.364 §36]
Section: Previous 744.804 744.806 744.808 744.810 744.812 744.814 744.816 744.818 744.820 744.850 744.852 744.854 744.856 744.858 744.990 NextLast modified: August 7, 2008