31 Pa. Code § 161.5 - Determination of reinsurer qualification
(a) Applications for designation as a
qualified reinsurer shall be submitted by the assuming insurer and shall be
accompanied by a properly executed Form QR-1 as provided in Appendix A
(relating to Form QR-1 Certificate of Assuming Insurer).
(b) If the Department is satisfied that an
assuming insurer has met the conditions for qualification and determines to
designate the assuming insurer as a qualified reinsurer, the Department will
issue written notice of the designation to the assuming insurer and include the
insurer on a list of qualified reinsurers published and periodically reviewed
by the Commissioner .
(c) If the
Department determines that qualification will be denied, the Department will
issue written notice of denial to the assuming insurer. The assuming insurer
may request a hearing to review the Department 's denial. The hearing will be
held in accordance with
2
Pa.C.S. §§
501-508 and
701-704 (relating to the
Administrative Agency Law) and 1 Pa. Code Part II (relating to the general
rules of administrative practice and procedure).
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.