Tenn. Comp. R. & Regs. 0780-01-63-.09

Current through October 22, 2024

Section 0780-01-63-.09 - CREDIT FOR REINSURANCE REQUIRED BY LAW

Pursuant to T.C.A. § 56-2-208(b)(7), the commissioner shall allow credit for reinsurance ceded by a domestic insurer to an assuming insurer not meeting the requirements of T.C.A. § 56-2-208(b)(2), (3), (4), (5), or (6), 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 rule, "jurisdiction" means state, district or territory of the United States and any lawful national government.

Tenn. Comp. R. & Regs. 0780-01-63-.09

Original rule filed October 5, 1995; effective December 19, 1995. Repeal and new rules filed March 2, 2018; effective May 31, 2018. Rule was originally numbered 0780-01-63-.08 but was renumbered 0780-01-63-.09 with the introduction of a new rule 0780-01-63-.08 filed March 2, 2022; effective 5/31/2022.

Authority: T.C.A. §§ 56-2-208, 56-2-209, and 56-2-301.