Md. Code, Insurance § 8-106
This is the official text of Md. Code, Insurance § 8-106, part of Maryland’s Code, Insurance — regulates insurance companies and the policies they sell.
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§8–106.
Official statutory text
(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.
(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.
Status: in_force · Read it on the official government site
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