{"data":{"id":"us-ky/krs-304.9-715","jurisdiction":"us-ky","citation":"KRS 304.9-715","heading":"Records of transactions of reinsurance intermediary brokers.","body":"(1) For at least ten (10) years after expiration of each contract of reinsurance transacted\nby the reinsurance intermediary broker, the reinsurance intermediary broker shall\nkeep a complete record for each transaction showing:\n(a) The type of contract, limits,  underwriting restrictions, classes or risks, and\nterritory;\n(b) Period of coverage, including effective and expiration dates, cancellation\nprovisions, and notice required for cancellation;\n(c) Reporting and settlement requirements of balances;\n(d) Rate used to compute the reinsurance premium;\n(e) Names and addresses of assuming reinsurers;\n(f) Rates of all reinsurance commissions, including the commissions on any\nretrocessions handled by the reinsurance intermediary broker;\n(g) Related correspondence and memoranda;\n(h) Proof of placement;\n(i) Details regarding retrocessions handled by the reinsurance intermediary\nbroker, including the identity of retrocessionaires and percentage of each\ncontract assumed or ceded;\n(j) Financial records, including, but not li mited to, premium and loss accounts;\nand\n(k) When the reinsurance intermediary broker procures a reinsurance contract on\nbehalf of an authorized ceding insurer:\n1. Directly from any assuming reinsurer written evidence that the assuming\nreinsurer has agreed to assume the risk; or\n2. If placed through a representative of the assuming reinsurer, other than\nan employee, written evidence that the reinsurer has delegated binding\nauthority to the representative;\n(2) The insurer shall have access to and the right to copy and audit all accounts and\nrecords maintained by the reinsurance intermediary broker related to its business in\na form usable by the insurer.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=16972","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:41Z","sha256":"9c57aed9381cb2cbcd016796821ab40dd4ffa04393035f354c5f8d1eb19a7500","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.9-710","next":"us-ky/krs-304.9-720"},"notice":"GroundRules: Original legal text. Not legal advice."}