(a)  For at least ten (10) years after the expiration of each contract of reinsurance transacted by the RB, the RB will keep a complete record for each transaction showing:

(1)  The type of contract, limits, underwriting restrictions, classes, or risks and territory;

(2)  Period of coverage, including effective and expiration dates, cancellation provisions, and notice required of cancellation;

(3)  Reporting and settlement requirements of balances;

(4)  Rate used to compute the reinsurance premium;

(5)  Names and addresses of assuming reinsurers;

(6)  Rates of all reinsurance commissions, including the commissions on any retrocessions handled by the RB;

(7)  Related correspondence and memoranda;

(8)  Proof of placement;

(9)  Details regarding retrocessions handled by the RB including the identity of retrocessionaries and percentage of each contract assumed or ceded;

(10)  Financial records including, but not limited to, premium and loss accounts; and

(11)  When the RB procures a reinsurance contract on behalf of a licensed ceding insurer:

(i)  Directly from any assuming reinsurer, written evidence that the assuming reinsurer has agreed to assume the risk; or

(ii)  If placed through a representative of the assuming reinsurer, other than an employee, written evidence that the reinsurer has delegated binding authority to the representative.

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(b)  The insurer will have access and the right to copy and audit all accounts and records maintained by the RB related to its business in a form usable by the insurer.