ARS § 20-261, 20-261.01, 20-261.02, and 20-261.03 set forth requirements for reinsuring risks and for being able to reflect reinsurance as an asset or a reduction of liability.
A domestic insurer that intends to be a party to reinsurance (either ceding or assuming risk) must file the reinsurance agreement with the Department of Insurance and receive the Department's written approval prior to executing a reinsurance agreement except for:
- Reinsurance of ocean marine or marine protection and indemnity risks;
- Assumption reinsurance contracts for an assuming insurer that has fulfilled Arizona's most recent requirement to file a financial statement with the Department, and the financial statement shows the assuming insurer has a policyholder surplus of at least $50 million.
| Form E-AR-1: Certificate of Assuming Insurer | |
| Credit for Reinsurance - Unofficial Rule |
The official version of this rule will be published by the Arizona Secretary of State. The Notice of Final Exempt Rulemaking concerning this rule has been published in the Arizona Administrative Register, accessible at http://apps.azsos.gov/public_services/register/2015/43/contents.pdf. |
| Form E-RE-I: Reinsurer Initial Instructions | |
| Form E-CR-I: Certified Reinsurer Instructions | |
| Form E-CR-F Instructions | |
| Form E-CR-S Instructions | |
| Form E-CR-C: Uniform Application Checklist for Certified Reinsurers | |
| Form E-CR-1: Certificate of Certified Reinsurer | |
| Form E-CR-INFO: Certified Reinsurer Information |
ARS § 41-1030(G) requires most Arizona government agencies to prominently print the provisions of ARS § 41-1030(B), (D), (E) and (F) on all license applications. The following is the language in ARS § 41-1030(B), (D), (E) and (F):
B. An agency shall not base a licensing decision in whole or in part on a licensing requirement or condition that is not specifically authorized by statute, rule or state tribal gaming compact. A general grant of authority in statute does not constitute a basis for imposing a licensing requirement or condition unless a rule is made pursuant to that general grant of authority that specifically authorizes the requirement or condition.
D. This section may be enforced in a private civil action and relief may be awarded against the state. The court may award reasonable attorney fees, damages and all fees associated with the license application to a party that prevails in an action against the state for a violation of this section.
E. A state employee may not intentionally or knowingly violate this section. A violation of this section is cause for disciplinary action or dismissal pursuant to the agency’s adopted personnel policy.
F. This section does not abrogate the immunity provided by section 12-820.01 or 12-820.02.