20-486.04. Duties of insurers utilizing the services of a reinsurance intermediary broker
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/az/title-20/20-486-04A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. An insurer shall 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 section 20-486.01.
B. An insurer may not employ an individual who is employed by the reinsurance intermediary broker with which it transacts business, unless the reinsurance intermediary broker is under common control with the insurer and is subject to the holding company act.
C. The insurer annually shall obtain a copy of the statements on the financial condition of each reinsurance intermediary broker with which it transacts business.