California Insurance Code 922.6 – Credit for reinsurance shall not be denied a foreign ceding insurer …
Current as of: 2024 | Check for updates
|
Other versions
Credit for reinsurance shall not be denied a foreign ceding insurer to the extent that credit is recognized by the ceding insurer’s domestic state regulator, provided that the domestic state is accredited by the National Association of Insurance Commissioners (NAIC), or the domestic state regulator has financial solvency requirements substantially similar to the requirements necessary for NAIC accreditation.
(Repealed and added by Stats. 2012, Ch. 277, Sec. 10. (SB 1216) Effective January 1, 2013.)
Terms Used In California Insurance Code 922.6
- Domestic: means organized under the laws of this State, whether or not admitted. See California Insurance Code 26
- Foreign: means not organized under the laws of this State, whether or not admitted. See California Insurance Code 27
- State: means the State of California, unless applied to the different parts of the United States. See California Insurance Code 28