{"data":{"id":"us-ak/as-21.27.700","jurisdiction":"us-ak","citation":"AS 21.27.700","heading":"Reinsurance intermediary broker records.","body":"In addition to any other records requirements under this title, a reinsurance intermediary broker shall maintain in organized form a record of each transaction including\n(1) the type of contract, limits, underwriting restrictions, classes or risks, and territory;\n(2) the period of coverage, including effective and expiration dates, cancellation provisions, and required notice of cancellation;\n(3) the reporting and settlement requirements of balances;\n(4) the rate used to compute the reinsurance premium;\n(5) the names and addresses of reinsurers;\n(6) the rate of all reinsurance commissions, including the commissions on retrocessions handled by the reinsurance intermediary broker;\n(7) the related correspondence and memoranda;\n(8) the proof of placement;\n(9) the details regarding retrocessions handled by the reinsurance intermediary broker including the identity of retrocessionaires and the percentage of each contract assumed or ceded;\n(10) the financial records of premium and loss accounts;\n(11) if the reinsurance intermediary broker procures a reinsurance contract on behalf of an admitted ceding insurer\n(A) written evidence directly from an assuming reinsurer that it has agreed to assume the risk; or\n(B) written evidence, if placed through a representative of the assuming reinsurer other than an employee, that the reinsurer had delegated binding authority to the representative; and\n(12) additional information that is customary or that may be required by the director.","path":["Title 21. Insurance.","Chapter 27. Producers, Agents, Administrators, Brokers, Adjusters, and Managers.","Article 5. Reinsurance Intermediary Brokers."],"source_url":"https://www.akleg.gov/basis/statutes.asp#21.27.700","current_through":"Alaska Statutes 2025 (34th Legislature, 2025-2026)","vintage":"","retrieved_at":"2026-09-02T06:17:40Z","sha256":"a94511d280e0dd640c169e80596ef97933b023024a0d2ea317a5c262245af8cc","source_id":"us-ak","stale":false,"prev":"us-ak/as-21.27.690","next":"us-ak/as-21.27.730"},"notice":"GroundRules: Original legal text. Not legal advice."}