Section 8-106 - Placement or Acceptance of Business by Reinsurance Intermediary

(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.