Washington § 48.94.020 - Accounts and records maintained by reinsurance intermediary-broker — Access by insurer.

Full text of Washington Revised Code of Washington § 48.94.020 — Accounts and records maintained by reinsurance intermediary-broker — Access by insurer., with citation guidance and answers to common questions.

§ 48.94.020. Accounts and records maintained by reinsurance intermediary-broker — Access by insurer.

(1) For at least ten years after expiration of each contract of reinsurance transacted by the reinsurance intermediary-broker, the reinsurance intermediary-broker shall keep a complete record for each transaction showing:
(a) The type of contract, limits, underwriting restrictions, classes, or risks and territory;
(b) Period of coverage, including effective and expiration dates, cancellation provisions, and notice required of cancellation;
(c) Reporting and settlement requirements of balances;
(d) Rate used to compute the reinsurance premium;
(e) Names and addresses of assuming reinsurers;
(f) Rates of all reinsurance commissions, including the commissions on any retrocessions handled by the reinsurance intermediary-broker;
(g) Related correspondence and memoranda;
(h) Proof of placement;
(i) Details regarding retrocessions handled by the reinsurance intermediary-broker including the identity of retrocessionaires and percentage of each contract assumed or ceded;
(j) Financial records, including but not limited to, premium and loss accounts; and
(k) When the reinsurance intermediary-broker 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.
(2) The insurer has access and the right to copy and audit all accounts and records maintained by the reinsurance intermediary-broker related to its business in a form usable by the insurer.
[ 1993 c 462 s 26.]

Source: official Washington text · Last verified 2026-08-27

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Frequently Asked Questions About Washington § 48.94.020

What does Revised Code of Washington § 48.94.020 cover?

Section 48.94.020 ("Accounts and records maintained by reinsurance intermediary-broker — Access by insurer.") is part of the Revised Code of Washington, the codified statutory law of Washington. 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 Washington § 48.94.020?

A common citation format is "Revised Code of Washington § 48.94.020" (Washington). 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 Washington law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Washington official source linked on this page or consult a licensed Washington attorney.

How does Washington § 48.94.020 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Washington can advise on how this section applies to you. Contact your state or local bar association for a referral.

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