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.]