Maryland Insurance Section 8-106

Article - Insurance

§ 8-106.

      (a)      In this section, "reinsurance intermediary" means a person that acts as an insurance producer in:

            (1)      soliciting, negotiating, or procuring a reinsurance contract or binder for a ceding insurer; or

            (2)      accepting a reinsurance contract or binder for an assuming insurer.

      (b)      This section does not apply to a reinsurance intermediary that makes a complete written disclosure to the parties of its relationship with the assuming or ceding insurer before completion of the transaction.

      (c)      A reinsurance intermediary that has control of an assuming insurer may not directly or indirectly place insurance business with the assuming insurer in a transaction in which the reinsurance intermediary acts as an insurance producer for the ceding insurer.

      (d)      A reinsurance intermediary that has control of a ceding insurer may not directly or indirectly accept business from the ceding insurer in a transaction in which the reinsurance intermediary acts as an insurance producer for the assuming insurer.



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