Terms Used In Arizona Laws > Title 20 > Chapter 2 > Article 10 - Reinsurance Intermediaries

• Actuary: means a person who is a member in good standing of the American academy of actuaries. See Arizona Laws 20-486
• Contract: A legal written agreement that becomes binding when signed.
• Controlling person: means a person, firm, association or corporation that directly or indirectly has the power to direct or cause to be directed the management, control or activities of the reinsurance intermediary. See Arizona Laws 20-486
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• department: means the department of insurance and financial institutions. See Arizona Laws 20-101
• Dependent: A person dependent for support upon another.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Fiduciary: A trustee, executor, or administrator.
• including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
• Insurer: means a person, firm, association or corporation licensed to transact insurance business in this state. See Arizona Laws 20-486
• Licensed producer: means an insurance producer or reinsurance intermediary who is licensed pursuant to this title. See Arizona Laws 20-486
• Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
• Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
• Process: means a citation, writ or summons issued in the course of judicial proceedings. See Arizona Laws 1-215
• Property: includes both real and personal property. See Arizona Laws 1-215
• Reinsurance intermediary: means a reinsurance intermediary broker or a reinsurance intermediary manager. See Arizona Laws 20-486
• Reinsurance intermediary broker: means a person, other than an officer or employee of the ceding insurer, or a firm, association or corporation that solicits, negotiates or places reinsurance cessions or retrocessions on behalf of a ceding insurer without the authority or power to bind reinsurance on behalf of the insurer. See Arizona Laws 20-486
• Reinsurance intermediary manager: means a person, firm, association or corporation that has authority to bind or manage all or part of the assumed reinsurance business of a reinsurer, including the management of a separate division, department or underwriting office, and that acts as an agent for the reinsurer whether the reinsurer is known as a reinsurance intermediary manager, a manager or another similar term. See Arizona Laws 20-486
• Reinsurer: means a person, firm, association or corporation licensed to transact reinsurance business in this state. See Arizona Laws 20-486
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• sent: means to deliver by United States mail, personal delivery or fax or by electronic means consistent with the requirements of section 20-239. See Arizona Laws 20-117
• Service of process: The service of writs or summonses to the appropriate party.
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• United States: includes the District of Columbia and the territories. See Arizona Laws 1-215
• Violation: means the failure of the reinsurance intermediary, insurer or reinsurer for whom the reinsurance intermediary was acting to substantially comply with the provisions of this article. See Arizona Laws 20-486
• Writing: includes printing. See Arizona Laws 1-215