Ala. Code § 27-5B-13 (1975) Concentration Risk
| Library | Alabama Statutes |
| Edition | 2023 |
| Currency | Current with legislation from the 2023 Regular and Special Sessions. |
| Year | 2023 |
| Citation | Ala. Code § 27-5B-13 (1975) |
(a) A ceding insurer shall take steps to manage its reinsurance recoverables proportionate to its own book of business. A domestic ceding...
(b) A ceding insurer shall take steps to diversify its reinsurance program. A domestic ceding insurer shall notify the commissioner within 30 days after ceding to any single assuming insurer, or group of affiliated assuming insurers, more than 20 percent of the ceding insurer's gross written premium in the prior calendar year, or after it h...
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