{"data":{"id":"us-nj/n.j.-stat.-17-22e-7","jurisdiction":"us-nj","citation":"N.J. Stat. § 17:22E-7","heading":"Records of transactions","body":"7.     For at least 10 years after the expiration of each contract of reinsurance transacted by the reinsurance intermediary-broker, the reinsurance intermediary-broker shall keep a complete record for each transaction showing:\na.     The type of contract, limits, underwriting restrictions, classes or risks and territory;\nb.     Period of coverage, including effective and expiration dates, cancellation provisions and notice required of cancellation;\nc.     Reporting and settlement requirements of balances;\nd.     Rate used to compute the reinsurance premium;\ne.     Names and addresses of assuming reinsurers;\nf.     Rates of all reinsurance commissions, including the commissions on any retrocessions handled by the reinsurance intermediary-broker;\ng.     Related correspondence and memoranda;\nh.     Proof of placement;\ni.     Details regarding retrocessions handled by the reinsurance intermediary-broker, including the identity of retrocessionaires and percentage of each contract assumed or ceded;\nj.     Financial records, including, but not limited to, premium and loss accounts; and\nk.     When the reinsurance intermediary-broker procures a reinsurance contract on behalf of a ceding licensed insurer:\n(1)    Directly from any assuming reinsurer, written evidence that the assuming reinsurer has agreed to assume the risk; or\n(2)    If placed through a representative of the assuming reinsurer, other than an employee, written evidence that the assuming reinsurer has delegated binding authority to the representative.\nL.1993,c.244,s.7.","path":["TITLE 17 CORPORATIONS AND INSTITUTIONS FOR FINANCE \t\t\tAND INSURANCE"],"source_url":"https://pub.njleg.state.nj.us/statutes/STATUTES-TEXT.zip","current_through":"P.L.2025, c.405, and J.R.22","vintage":"","retrieved_at":"2026-08-27T17:54:13Z","sha256":"3da4ca242c4871e0ceaf2bada589f40ab0c67379698163440e9507674e034898","source_id":"us-nj","stale":true,"prev":"us-nj/n.j.-stat.-17-22e-6","next":"us-nj/n.j.-stat.-17-22e-8"},"notice":"GroundRules: Original legal text. Not legal advice."}