Haw. Code R. § 16-17-14 - Reinsurance
(a) Reinsurance under this section shall be
effected through a written agreement of reinsurance setting forth the terms,
provisions, and conditions governing the reinsurance.
(b) A risk retention captive:
(1) Shall qualify for credit for reinsurance
on risks ceded to a reinsurer if the reinsurer is in compliance with chapter
431, article 4A of the Hawaii Revised Statutes; or
(2) May qualify for credit for reinsurance on
risks ceded to a reinsurer, provided the reinsurer meets the reinsurance
guidelines for risk retention captives pursuant to section
16-17-14.1.
(c) A
captive taking credit for reinsurance pursuant to this section shall provide
copies of all reinsurance binders, slips, treaties, or agreements to the
commissioner for the commissioner's review and approval.
Notes
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