KRS 304.9-715: Records of transactions of reinsurance intermediary brokers.

(1) For at least ten (10) years after expiration of each contract of reinsurance transacted

by the reinsurance intermediary broker, the reinsurance intermediary broker shall

keep a complete record for each transaction showing:

(a) The type of contract, limits, underwriting restrictions, classes or risks, and

territory;

(b) Period of coverage, including effective and expiration dates, cancellation

provisions, and notice required for cancellation;

(c) Reporting and settlement requirements of balances;

(d) Rate used to compute the reinsurance premium;

(e) Names and addresses of assuming reinsurers;

(f) Rates of all reinsurance commissions, including the commissions on any

retrocessions handled by the reinsurance intermediary broker;

(g) Related correspondence and memoranda;

(h) Proof of placement;

(i) Details regarding retrocessions handled by the reinsurance intermediary

broker, including the identity of retrocessionaires and percentage of each

contract assumed or ceded;

(j) Financial records, including, but not li mited to, premium and loss accounts;

and

(k) When the reinsurance intermediary broker procures a reinsurance contract on

behalf of an authorized ceding insurer:

1. Directly from any assuming reinsurer written evidence that the assuming

reinsurer has agreed to assume the risk; or

2. If placed through a representative of the assuming reinsurer, other than

an employee, written evidence that the reinsurer has delegated binding

authority to the representative;

(2) The insurer shall have access to and the right to copy and audit all accounts and

records maintained by the reinsurance intermediary broker related to its business in

a form usable by the insurer.