Wis. Admin. Code Office of the Commissioner of Insurance § Ins 52.025 - Revocation of accreditation or certification

Current through March 28, 2022

(1) The commissioner may revoke the accreditation or certification of a reinsurer under s. Ins 52.02. If the accreditation or certification of a reinsurer is revoked, a licensed insurer may not take credit for ceded reinsurance to the reinsurer under s. Ins 52.02(2), (3), or (4m), regardless of when the reinsurance was ceded or the reinsurance contract executed. If a reinsurer does not comply with any provision of s. Ins 52.02(2), (3), (4), (4m), or (5) an insurer may not take credit for reinsurance ceded to the reinsurer under s. Ins 52.02(2), (3), (4), (4m), or (5), regardless of whether the reinsurer is or remains accredited or certified and regardless of when the reinsurance was ceded or the reinsurance contract executed.
(2) For the purpose of accreditation under s. Ins 52.02(2) it is presumed that a reinsurer should not be accredited or take credit if the reinsurer has a policyholder surplus of less than $20,000,000.
(3) The commissioner may revoke the certification of a reinsurer under s. Ins 52.02(4m) at any time if the certified reinsurer fails to meet the requirements of s. Ins 52.02(4m).

Notes

Wis. Admin. Code Office of the Commissioner of Insurance § Ins 52.025
Cr. Register, July, 1993, No. 451, eff. 8-1-93. Amended by, CR 17-004: am. (intro.), (1), (2), cr. (3) Register December 2017 No. 744, eff. 1-1-18; correction in (3) made under s. 35.17, Stats., Register December 2017 No. 744, eff. 1/1/2018

The following state regulations pages link to this page.



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.