{"data":{"id":"us-ct/conn.-gen.-stat.-38a-760g","jurisdiction":"us-ct","citation":"Conn. Gen. Stat. § 38a-760g","heading":"Reinsurance intermediary-manager: Prohibited practices.","body":"The reinsurance intermediary-manager shall not:\n(1) Cede retrocessions on behalf of the reinsurer, except the reinsurance intermediary-manager may cede facultative retrocessions pursuant to obligatory facultative agreements if the contract with the reinsurer contains reinsurance underwriting guidelines for such retrocessions. Such guidelines shall include a list of reinsurers with which such automatic agreements are in effect, and for each such reinsurer, the coverages and amounts or percentages that may be reinsured, and commission schedules;\n(2) Commit the reinsurer to participate in reinsurance syndicates;\n(3) Appoint any producer without verifying the producer is lawfully licensed to transact the type of reinsurance for which he is appointed;\n(4) Without prior approval of the reinsurer, pay or commit the reinsurer to pay a claim, net of retrocessions, that exceeds the lesser of an amount specified by the reinsurer or one per cent of the reinsurer's policyholder's surplus as of December thirty-first of the last complete calendar year;\n(5) Collect any payment from a retrocessionaire or commit the reinsurer to any claim settlement with a retrocessionaire, without prior approval of the reinsurer. If prior approval is given, a report shall be promptly forwarded to the reinsurer;\n(6) Jointly employ an individual who is employed by the reinsurer unless such reinsurance intermediary-manager is under common control with the reinsurer subject to the provisions of sections 38a-129 to 38a-140, inclusive;\n(7) Appoint a subreinsurance intermediary-manager.","path":["TITLE 38a. INSURANCE","CHAPTER 701e. (INSURANCE ADMINISTRATORS) REINSURANCE INTERMEDIARY ACT"],"source_url":"https://www.cga.ct.gov/current/pub/chap_701e.htm#sec_38a-760g","current_through":"Revised to January 1, 2026 (2026 Supplement to the General Statutes of Connecticut, applied over the base revision of January 1, 2025)","vintage":"","retrieved_at":"2026-09-06T19:07:13Z","sha256":"37ce5f79eb5ede0ed031a00e6f669c70c668176c7fba4ba93dbedf97c4dd426d","source_id":"us-ct","stale":false,"prev":"us-ct/conn.-gen.-stat.-38a-760f","next":"us-ct/conn.-gen.-stat.-38a-760h"},"notice":"GroundRules: Original legal text. Not legal advice."}