Sec.38a-88-5. Credit for reinsurance required by law

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Pursuant to section 38a-85(h) of the Connecticut General Statutes, the Commissioner shall allow credit for reinsurance ceded by a domestic insurer to an assuming insurer not meeting the requirements of Subsections (b), (c), (d), (e), (f) or (g) of section 38a-85 of the Connecticut General Statutes, but only as to the insurance of risks located in jurisdictions where the reinsurance is required by the applicable law or regulation of that jurisdiction. As used in this Section, “jurisdiction” means any state, district or territory of the United States and any lawful national government.

(Effective November 26, 1991; Amended July 7, 2004; Amended August 6, 2013; Amended May 11, 2022)

                    
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