{"data":{"id":"us-dc/d.c.-code-31-1804","jurisdiction":"us-dc","citation":"D.C. Code § 31-1804","heading":"Books and records; reinsurance intermediary brokers.","body":"(a)\nFor at least 10 years after expiration of each contract of reinsurance transacted by the reinsurance broker, the reinsurance broker will keep a complete record for each transaction showing:\n(1)\nThe type of contract, limits, underwriting restrictions, classes, or risks and territory;\n(2)\nPeriod of coverage, including effective and expiration dates, cancellation provisions, and notice required of cancellation;\n(3)\nReporting and settlement requirements of balances;\n(4)\nRate used to compute the reinsurance premium;\n(5)\nNames and addresses of assuming reinsurers;\n(6)\nRates of all reinsurance commissions, including the commissions on any retrocessions handled by the reinsurance broker;\n(7)\nRelated correspondence and memoranda;\n(8)\nProof of placement;\n(9)\nDetails regarding retrocessions handled by the reinsurance broker including the identity of retrocessionaires and percentage of each contract assumed or ceded;\n(10)\nFinancial records, including, but not limited to, premium and loss accounts; and\n(11)\nWhen the reinsurance broker procures a reinsurance contract on behalf of a licensed ceding insurer:\n(A)\nDirectly from any assuming reinsurer, written evidence that the assuming reinsurer has agreed to assume the risk; or\n(B)\nIf placed through a representative of the assuming reinsurer, other than an employee, written evidence that the reinsurer has delegated binding authority to the representative.\n\n(b)\nThe insurer will have access and the right to copy and audit all accounts and records maintained by the reinsurance broker related to its business in a form usable by the insurer.","path":["Title 31. Insurance and Securities.","Chapter 18. Reinsurance Intermediaries."],"source_url":"https://code.dccouncil.gov/us/dc/council/code/sections/31-1804","current_through":"2026-08-20 (D.C. Law 26-175)","vintage":"","retrieved_at":"2026-08-29T05:44:07Z","sha256":"81ae47aed96a459897522c8cc606c81e70d24b2010d02d9049b566fb6d6a5336","source_id":"us-dc","stale":false,"prev":"us-dc/d.c.-code-31-1803","next":"us-dc/d.c.-code-31-1805"},"notice":"GroundRules: Original legal text. Not legal advice."}