§431:9B-104  Books and records; reinsurance
intermediary-brokers.  (a)  For at least ten years after 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:



(1)  The type of contract, limits, underwriting
restrictions, classes or risks, and territory;



(2)  Period of coverage, including effective and
expiration dates, cancellation provisions, and notice required for cancellation;



(3)  Reporting and settlement requirements of
balances;



(4)  Rate used to compute the reinsurance premium;



(5)  Names and addresses of assuming reinsurers;



(6)  Rates of all reinsurance commissions, including
the commissions on any retrocessions handled by the reinsurance
intermediary-broker;



(7)  Related correspondence and memoranda;



(8)  Proof of placement;



(9)  Details regarding retrocessions handled by the
reinsurance intermediary-broker including the identity of retrocessionaires and
percentage of each contract assumed or ceded;



(10)  Financial records, including but not limited to,
premium and loss accounts; and



(11)  When the reinsurance intermediary-broker procures
a reinsurance contract on behalf of a licensed ceding insurer:



(A)  Directly from any assuming reinsurer,
written evidence that the assuming reinsurer has agreed to assume the risk; or



(B)  If placed through a representative of the
assuming reinsurer, other than an employee, written evidence that the reinsurer
has delegated binding authority to the representative.



(b)  The insurer will have access and the right
to copy and audit all accounts and records maintained by the reinsurance
intermediary-broker related to its business in a form usable by the insurer. [L
1992, c 176, pt of §6; am L 1993, c 6, §18]