Section 161.9. Application

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(a) Credit will be allowed when the reinsurance is ceded to an assuming insurer not meeting the requirements of this section or § 161.3 (relating to credit for reinsurance) with respect to the insurance of risks located in jurisdictions if the reinsurance is required by applicable law or regulation of that jurisdiction. As used in this section, ‘‘jurisdiction’’ means a state, district or territory of the United States and a lawful national government.
(b) An insurer which has been designated as a qualified reinsurer prior to August 28, 1993, will have until August 28, 1995, to achieve compliance with this chapter or have its qualification revoked.

The provisions of this § 161.9 amended May 24, 2013, effective June 24, 2013, 43 Pa.B. 2816. Immediately preceding text appears at serial page (265061).

Notation

Authority

The provisions of this § 161.9 amended under sections 206, 506, 1501 and 1502 of The Administrative Code of 1929 (71 P. S. § § 66, 186, 411 and 412); and section 319.1 of The Insurance Company Law of 1921 (40 P. S. § 42.1).

                    
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