Ins 47.06(4)(i)(i) Details regarding retrocessions handled by the reinsurance intermediary-manager, as permitted under s. Ins 47.08 (4), including the identity of retrocessionaires and percentage of each contract assumed or ceded;

Ins 47.06(4)(k)(k) When the reinsurance intermediary-manager places a reinsurance contract on behalf of a ceding insurer:

Ins 47.06(4)(k)1.1. Directly from any assuming reinsurer, written evidence that the assuming reinsurer has agreed to assume the risk; or

Ins 47.06(4)(k)2.2. If placed through a representative of the assuming reinsurer, other than an employe, written evidence that the reinsurer has delegated binding authority to the representative.

Ins 47.06(5)(5) A reinsurance intermediary-manager shall give the reinsurer it represents access to and the right to copy and audit all accounts and records maintained by the reinsurance intermediary-manager related to the reinsurer’s business in a form usable by the reinsurer.

Ins 47.06(6)(6) The contract may not be assigned in whole or in part by the reinsurance intermediary-manager.

Ins 47.06(7)(7) The reinsurance intermediary-manager will comply with the written underwriting and rating standards established by the insurer for the acceptance, rejection or cession of all risks.

Ins 47.06(8)(8) Rates, terms and purposes of commissions, charges and other fees which the reinsurance intermediary-manager may levy against the reinsurer.

Ins 47.06(9)(9) If the contract permits the reinsurance intermediary-manager to settle claims on behalf of the reinsurer:

Ins 47.06(9)(b)(b) A copy of the claim file will be sent to the reinsurer at its request or as soon as it becomes known that the claim:

Ins 47.06(9)(b)1.1. Has the potential to exceed the lesser of an amount equal to 3% of the reinsurer’s policyholder surplus as of the end of the immediately preceding calendar year or the limit set by the reinsurer;

Ins 47.06(9)(b)5.5. Is closed by payment of an amount equal to or greater than the lesser of 1% of the reinsurer’s policyholder surplus as of the end of the immediately preceding calendar year or an amount set by the reinsurer;

Ins 47.06(9)(c)(c) All claim files will be the joint property of the reinsurer and reinsurance intermediary-manager, but upon an order of liquidation of the reinsurer the files shall become the sole property of the reinsurer or its estate and the reinsurance intermediary-manager shall have reasonable access to and the right to copy the files on a timely basis;

Ins 47.06(9)(d)(d) Any settlement authority granted to the reinsurance intermediary-manager may be terminated for cause upon the reinsurer’s written notice to the reinsurance intermediary-manager or upon the termination of the contract. The reinsurer may suspend the settlement authority during the pendency of the dispute regarding the cause of termination.

Ins 47.06(10)(10) If the contract provides for a sharing of interim profits by the reinsurance intermediary-manager, that the interim profits will not be paid until one year after the end of each underwriting period for property business and 5 years after the end of each underwriting period for casualty business, or a later period set by order of the commissioner for specified lines of insurance, and not until the adequacy of reserves on remaining claims has been verified pursuant to s. Ins 47.08 (3).

Ins 47.06(11)(11) The reinsurance intermediary-manager will annually provide the reinsurer with a statement of its financial condition prepared by an independent certified accountant.

Ins 47.06(12)(12) The reinsurer shall at least semiannually conduct an on-site review of the underwriting and claims processing operations of the reinsurance intermediary-manager.

Ins 47.06(13)(13) The reinsurance intermediary-manager will disclose to the reinsurer any relationship it has with any insurer prior to ceding or assuming any business with the insurer under the contract.

Ins 47.06(14)(14) Within the scope of its actual or apparent authority the acts of the reinsurance intermediary-manager are the acts of the reinsurer on whose behalf it is acting.

Ins 47.07(1)(1) Cede retrocessions on behalf of the reinsurer, except that the reinsurance intermediary-manager may cede facultative retrocessions pursuant to obligatory facultative agreements if the contract with the reinsurer contains reinsurance underwriting guidelines for the retrocessions. The guidelines shall include a list of reinsurers with which the automatic agreements are in effect, and for each such reinsurer, the coverages and amounts or percentages that may be reinsured, and commission schedules.