2020 California Code
Insurance Code - INS
DIVISION 1 - GENERAL RULES GOVERNING INSURANCE
PART 2 - THE BUSINESS OF INSURANCE
CHAPTER 6.5 - Reinsurance Intermediaries
Section 1781.6.

Universal Citation: CA Ins Code § 1781.6 (2020)
1781.6.  

(a) An insurer shall not engage the services of any person, firm, association, or corporation to act as a reinsurance intermediary-broker on its behalf unless the person is licensed as required by subdivision (a) of Section 1781.3.

(b) 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 Article 4.7 (commencing with Section 1215) of Chapter 2.

(c) The insurer shall annually obtain a copy of statements of the financial condition of each reinsurance intermediary-broker with which it transacts business.

(Added by Stats. 1991, Ch. 1009, Sec. 1.)

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