Report of a material nonrenewal, cancellation, or revision of ceded reinsurance agreements—Information required.
The following is required to be disclosed in any report of a material nonrenewal, cancellation, or revision of ceded reinsurance agreements:
(1) The effective date of the nonrenewal, cancellation or revision;
(2) The description of the transaction with an identification of the initiator;
(3) The purpose of or reason for the transaction; and
(4) If applicable, the identity of the replacement reinsurers.
[1995 c 86 § 24.]