{"data":{"id":"us-ak/as-21.27.770","jurisdiction":"us-ak","citation":"AS 21.27.770","heading":"Reinsurance intermediary manager records.","body":"In addition to any other records requirements under this chapter, a reinsurance intermediary manager shall maintain in organized form a complete 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) disposition of outstanding reserves on covered risks;\n(4) the reporting and settlement requirements of balances;\n(5) the rate used to compute the reinsurance premium;\n(6) the names and addresses of reinsurers;\n(7) the rate of all reinsurance commissions, including the commissions on retrocessions handled by the reinsurance intermediary broker and reinsurance intermediary manager;\n(8) related correspondence and memoranda;\n(9) proof of placement;\n(10) details regarding retrocessions handled by the reinsurance intermediary broker and reinsurance intermediary manager including the identity of retrocessionaires and the percentage of each contract assumed or ceded;\n(11) financial records of premium and loss accounts; and\n(12) if the reinsurance intermediary broker procures a reinsurance contract on behalf of an admitted ceding insurer or when the reinsurance intermediary manager places a reinsurance contract on behalf of a ceding insurer, written evidence\n(A) directly from an assuming reinsurer that it has agreed to assume the risk; or\n(B) that the reinsurer had delegated binding authority to the representative, if placed through a representative of the assuming reinsurer other than an employee of the assuming reinsurer.","path":["Title 21. Insurance.","Chapter 27. Producers, Agents, Administrators, Brokers, Adjusters, and Managers.","Article 6. Reinsurance Intermediary Managers."],"source_url":"https://www.akleg.gov/basis/statutes.asp#21.27.770","current_through":"Alaska Statutes 2025 (34th Legislature, 2025-2026)","vintage":"","retrieved_at":"2026-09-02T06:17:40Z","sha256":"27cb363f82e31e3c3c9e6e2a2f9aaa473598c76f820a4c5e11b1e9edd21e5e4b","source_id":"us-ak","stale":false,"prev":"us-ak/as-21.27.760","next":"us-ak/as-21.27.790"},"notice":"GroundRules: Original legal text. Not legal advice."}