518.17 Reinsurance. 1. A county mutual insurance association may reinsure a part or all of its coverages written pursuant to this chapter with an association operating under this chapter, or with any otherassociation or company licensed in this state and authorized to write the kinds of insuranceenumerated in section 518.11. 2. Reinsurance sufficient to protect the financial stability of the county mutual insurance association is also required. In general, reinsurance coverage obtained by a county mutualinsurance association shall not expose the association to losses from coverages writtenpursuant to this chapter of more than fifteen percent from surplus in any calendar year. Thecommissioner of insurance may require additional reinsurance if necessary to protect thepolicyholders of the association. [C66, 71, 73, 75, 77, 79, 81, §518.17]91 Acts, ch 26, §47; 99 Acts, ch 165, §16; 2000 Acts, ch 1023, §38; 2002 Acts, ch 1111, §26; 2002 Acts, ch 1119, §183; 2009 Acts, ch 145, §32 Referred to in §521.13 Sat Dec 23 00:51:06 2023 Iowa Code 2024, Section 518.17 (17, 0)
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