§ 48.94.025. Restrictions on insurer -- Obtaining services -- Employees -- Financial condition of reinsurance intermediary
(1) An insurer may not engage the services of a person, firm, association, or corporation to act as a reinsurance intermediary-broker on its behalf unless the person is licensed as required by RCW 48.94.010(1).
(2) An insurer may not employ an individual who is employed by a reinsurance intermediary-broker with which it transacts business, unless the reinsurance intermediary-broker is under common control with the insurer and subject to the insurer holding company act, chapter 48.31B RCW.
(3) The insurer shall annually obtain a copy of statements of the financial condition of each reinsurance intermediary-broker with which it transacts business.
[1993 c 462 § 27.]
Sections: Previous 48.94.005 48.94.010 48.94.015 48.94.020 48.94.025 48.94.030 48.94.035 48.94.040 48.94.045 48.94.050 48.94.055 48.94.900 48.94.901 NextLast modified: April 7, 2009