IC 27-6-9-20: Engagement of services of reinsurance intermediary-broker; employment of an individual employed by an RB; financial condition; requirements

Sec. 20. (a) An insurer may not engage the services of any person, firm, association, or corporation to act as a RB on its behalf unless such person is licensed as required by section 12 of this chapter.

(b) An insurer may not employ an individual who is employed by a RB with which it transacts business unless the RB is under common control with the insurer and subject to IC 27-1-23.

(c) The insurer shall annually obtain a copy of statements of the financial condition of each RB with which it transacts business.