West Virginia Code 33-38-10 – Examination authority
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(a) A reinsurance intermediary is subject to examination by the commissioner at his or her discretion. The commissioner shall have access to all books, bank accounts and records of the reinsurance intermediary in a form usable to the commissioner.
Terms Used In West Virginia Code 33-38-10
- Commissioner: means the Insurance Commissioner of West Virginia. See West Virginia Code 33-38-2
- Reinsurance intermediary: means a reinsurance intermediary-broker or a reinsurance intermediary-manager as these terms are defined in subdivisions (g) and (h) of this section. See West Virginia Code 33-38-2
- Reinsurance intermediary-manager: means any person, firm, association or corporation who has authority to bind or manages all or part of the assumed reinsurance business of a reinsurer, including the management of a separate division, department or underwriting office, and acts as an agent for such reinsurer, whether known as a reinsurance intermediary-manager, manager or other similar term. See West Virginia Code 33-38-2
- Reinsurer: means any person, firm, association or corporation duly licensed or accredited in this state pursuant to the applicable provisions of this chapter as an insurer with the authority to assume reinsurance. See West Virginia Code 33-38-2
(b) A reinsurance intermediary-manager may be examined as if it were the reinsurer.