W. Va. Code R. § 114-40-8

Current through Register Vol. XLI, No. 50, December 13, 2024

Section 114-40-8 - Credit for Reinsurance Required by Law

Pursuant to W. Va. Code § 33-4-15a(b)(2)(G), the commissioner shall allow credit for reinsurance ceded by a domestic insurer to an assuming insurer not meeting the requirements of W. Va. Code §§ 33-4-15a(b)(2)(A); 33-4-15a(b)(2)(B); 33-4-15a(b)(2)(C); 33-4-15a(b)(2)(D); 33-4-15a(b)(2)(E); and 33-4-15a(b)(2)(F), 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 a state, district or territory of the United States and any lawful national government.