Haw. Code R. § 16-20-1 - Purpose
The commissioner recognizes that life and health insurers routinely enter into reinsurance agreements that yield legitimate relief to the ceding insurer from strain to surplus. The commissioner has, however, become aware that some reinsurance agreements have been created for the principal purpose of producing significant surplus aid for the ceding insurer and that these agreements do not transfer all of the significant risks associated with the business being reinsured and provide little or no indemnification of policy benefits by the reinsurer. Taking reserve credit under these types of agreements would create a situation that may be hazardous to policyholders, creditors, or the public or would violate:
Notes
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