Statutes > Kansas Statutes > Chapter 40 INSURANCE > Article 45 REGULATION OF REINSURANCE INTERMEDIARIES > 40-4506. Same; conditions; broker to provide insurer annual statement of financial condition.

40-4506. Same; conditions; broker to provide insurer annual statement of financial condition.

40-4506

Chapter 40.--INSURANCE
Article 45.--REGULATION OF REINSURANCE INTERMEDIARIES

      40-4506.   Same; conditions; broker to provide insurer annual statement offinancial condition.(a) An insurer shall not engage the services of any person, firm,association or corporation to act as a reinsurance broker on its behalf unlesssuch person is licensed as required by subsection (a) of K.S.A.40-4503.

      (b)   An insurer may not employ an individual who is employed by a reinsurancebroker with which it transacts business, unless such reinsurance broker isunder common control with the insurer and subject to the holding company act.

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

      History:   L. 1992, ch. 15, § 6; Dec. 31.