Chapter Ins 47

REINSURANCE INTERMEDIARY REGULATION

Ins 47.01   Definitions.

Ins 47.02   Licensure.

Ins 47.03   Required contract provisions-reinsurance intermediary-brokers.

Ins 47.04   Books and records-reinsurance intermediary-brokers.

Ins 47.05   Duties of insurers utilizing the services of a reinsurance intermediary-broker; prohibited function.

Ins 47.06   Required contract provisions-reinsurance intermediary-manager.

Ins 47.07   Prohibited acts.

Ins 47.08   Duties of reinsurers utilizing the services of a reinsurance intermediary-manager.

Ins 47.09   Effect of noncompliance on contract terms.

Ins 47.10   Examination authority.

Ch. Ins 47 Note Note: Chapter Ins 47 was created as an emergency rule effective March 12, 1993.

Ins 47.01 Ins 47.01 Definitions. In this chapter:

Ins 47.01(1) (1) “Actuary”” means a person who is a member in good standing of the American academy of actuaries.

Ins 47.01(2) (2) “Controlling person” means any person who directly or indirectly has the power to direct or cause to be directed, the management, control or activities of the reinsurance intermediary.

Ins 47.01(3) (3) “Insurer” means an insurer as defined under s. 600.03 (27), Stats., which has a certificate of authority under ch. 611, 612, 613, 614 or 618, Stats.

Ins 47.01(4) (4) “Policyholder surplus” means capital and surplus.

Ins 47.01(5) (5) “Reinsurer” means an insurer licensed in this state with the authority to assume reinsurance under ch. 627, Stats.

Ins 47.01(6) (6) “Reinsurance intermediary” means a reinsurance intermediary-broker or a reinsurance intermediary-manager.

Ins 47.01(7) (7) “Reinsurance intermediary-broker” means any person, other than an officer or employe of the ceding insurer, who solicits, negotiates or places reinsurance cessions or retrocessions on behalf of a ceding insurer.

Ins 47.01(8) (8) 

Ins 47.01(8)(a) (a) “Reinsurance intermediary-manager” means any person not excluded under par. (b) who: