Section 26-A2810. REINSURANCE CONTRACT

 

2810.1Credit will not be granted to a ceding insurer for reinsurance effected with assuming insurers meeting the requirements of Sections 2801, 2802, 2803, 2804 or 2806 of this regulation or otherwise in compliance with section 2 of the act, D.C. Code section 35-3301, after the adoption of this regulation unless the reinsurance agreement:

 

(a)Includes a proper insolvency clause; and

 

(b)Includes a provision pursuant to section 2(a)(6) of the act, D.C. Code section 35-301(a)(6) whereby the assuming insurer, if an unauthorized assuming insurer, has submitted to the jurisdiction of an alternative dispute resolution panel or court of competent jurisdiction within the United States, has agreed to comply with all requirements necessary to give such court or panel jurisdiction, has designated an agent upon whom service of process may be effected, and has agreed to abide by the final decision of such court or panel.

 

source

Final Rulemaking published at 43 DCR 2318 (May 3, 1996).