Section 4152.152 - Placement of Reinsurance With Unauthorized Reinsurer Unless the ceding insurer releases the broker in writing from the broker's obligations under this section, a broker who places reinsurance on behalf of an authorized ceding insurer with a reinsurer that is not authorized, accredited, or trusteed in this state under Chapter 493 shall:
(1) exercise due diligence in inquiring into the financial condition of the reinsurer;(2) disclose to the ceding insurer the broker's findings in connection with the inquiry under Subdivision (1); and(3) make available to the ceding insurer a copy of the current financial statement of the reinsurer.Tex. Ins. Code § 4152.152
Amended by Acts 2017, Texas Acts of the 85th Leg. - Regular Session, ch. 594,Sec. 3.14, eff. 9/1/2017.Amended By Acts 2007, 80th Leg., R.S., Ch. 730, Sec. 2J.006, eff. 4/1/2009.Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. 4/1/2005.