{"data":{"id":"us-dc/d.c.-code-31-1803","jurisdiction":"us-dc","citation":"D.C. Code § 31-1803","heading":"Required contract provisions; reinsurance intermediary-brokers.","body":"Transactions between a reinsurance broker and the insurer it represents shall only be entered into pursuant to a written authorization, specifying the responsibilities of each party. The authorization shall, at a minimum, provide that:\n\n(1)\nThe insurer may terminate the reinsurance broker’s authority at any time.\n\n(2)\nThe reinsurance broker shall render accounts to the insurer accurately detailing all material transactions, including information necessary to support all commissions, charges, and other fees received by, or owing to, the reinsurance broker, and remit all funds due to the insurer within 30 days of receipt.\n\n(3)\nAll funds collected for the insurer’s account will be held by the reinsurance broker in a fiduciary capacity in a bank which is a qualified United States financial institution as defined in § 31-1801.\n\n(4)\nThe reinsurance broker will comply with § 31-1804.\n\n(5)\nThe reinsurance broker will comply with the written standards established by the insurer for the cession or retrocession of all risks.\n\n(6)\nThe reinsurance broker will disclose to the insurer any relationship with any reinsurer to which business will be ceded or retroceded.","path":["Title 31. Insurance and Securities.","Chapter 18. Reinsurance Intermediaries."],"source_url":"https://code.dccouncil.gov/us/dc/council/code/sections/31-1803","current_through":"2026-08-20 (D.C. Law 26-175)","vintage":"","retrieved_at":"2026-08-29T05:44:07Z","sha256":"122942e8c948fd3aef123f1e27c49ae77e797c2a40e983a1298d6e1f176e5d12","source_id":"us-dc","stale":false,"prev":"us-dc/d.c.-code-31-1802","next":"us-dc/d.c.-code-31-1804"},"notice":"GroundRules: Original legal text. Not legal advice."}