Indiana § 27-6-9-18 - Transactions between reinsurance intermediary-broker and insurer; written authorization; contents
Full text of Indiana Indiana Code § 27-6-9-18 — Transactions between reinsurance intermediary-broker and insurer; written authorization; contents, with citation guidance and answers to common questions.
§ 27-6-9-18. Transactions between reinsurance intermediary-broker and insurer; written authorization; contents
Sec. 18. Transactions between a RB and the insurer it represents in the capacity of RB shall only be entered into pursuant to a written authorization, specifying the responsibilities of each party. The authorization shall, at a minimum, contain provisions stating the following:
(1) The insurer may terminate the RB's authority at any time.
(2) The RB will:
(A) render accounts to the insurer accurately detailing all material transactions, including information necessary to support all commissions, charges, and other fees received by, or owing to, the RB; and
(B) remit all funds due to the insurer within thirty (30) days of receipt.
(3) All funds collected for the insurer's account will be held by the RB in a fiduciary capacity in a bank which is a qualified United States financial institution.
(4) The RB will comply with section 19 of this chapter.
(5) The RB will comply with the written standards established by the insurer for the cession or retrocession of all risks.
(6) The RB will disclose to the insurer any relationship with any reinsurer to which business will be ceded or retroceded.
As added by P.L.26-1991, SEC.26.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 27-6-9-18
What does Indiana Code § 27-6-9-18 cover?
Section 27-6-9-18 ("Transactions between reinsurance intermediary-broker and insurer; written authorization; contents") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 27-6-9-18?
A common citation format is "Indiana Code § 27-6-9-18" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 27-6-9-18 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.