2019 Revised Code of Washington
Title 48 - Insurance
Chapter 48.94 - Reinsurance Intermediary Act.
48.94.025 Restrictions on insurer—Obtaining services—Employees—Financial condition of reinsurance intermediary.
RCW 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.]