31 CFR 50.36 - Allocation of premium income associated with entities that do share profits and losses with private sector insurers.

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§ 50.36 Allocation of premium income associated with entities that do share profits and losses with private sector insurers.

(a)Servicing Carriers. For purposes of this Subpart, a servicing carrier is an insurer that enters into an agreement to place and service insurance contracts for a State residual market insurance entity or a State workers' compensation fund and to cede premiums associated with such insurance contracts to the State residual market insurance entity or State workers' compensation fund. Premiums written by a servicing carrier on behalf of a State residual market insurance entity or State workers' compensation fund that are ceded to such an entity or fund shall not be included as direct earned premium (as described in § 50.5(d)(1) or 50.5(d)(2)) of the servicing carrier.

(b)Participant Insurers. For purposes of this Subpart, a participantinsurer is an insurer that shares in the profits and losses of a State residual market insurance entity or a State workers' compensation fund. Premium income that is distributed to or assumed by participantinsurers in a State residual market insurance entity or State workers' compensation fund (whether directly or as quota share insurers of risks written by servicing carriers), shall be included in direct earned premium (as described in § 50.5(d)(1) or 50.5(d)(2)) of the participantinsurer.

This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.

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United States Code
U.S. Code: Title 15 - COMMERCE AND TRADE
U.S. Code: Title 31 - MONEY AND FINANCE

Title 31 published on 2015-09-23

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 31 CFR Part 50 after this date.

  • 2016-12-21; vol. 81 # 245 - Wednesday, December 21, 2016
    1. 81 FR 93756 - Terrorism Risk Insurance Program
      GPO FDSys XML | Text
      DEPARTMENT OF THE TREASURY, Departmental Offices
      Final rule.
      This rule is effective January 17, 2017.
      31 CFR Part 50

Title 31 published on 2015-09-23.

The following are only the Rules published in the Federal Register after the published date of Title 31.

For a complete list of all Rules, Proposed Rules, and Notices view the Rulemaking tab.

  • 2016-12-21; vol. 81 # 245 - Wednesday, December 21, 2016
    1. 81 FR 93756 - Terrorism Risk Insurance Program
      GPO FDSys: XML | Text
      DEPARTMENT OF THE TREASURY, Departmental Offices
      Final rule.
      This rule is effective January 17, 2017.
      31 CFR Part 50