Texas Licensing Reinsurance Intermediary Agent For Service of Process
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FAQ
A Reinsurance Intermediary-manager means any person, firm, association, or corporation that 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 the reinsurer
For the reinsurer, intermediaries operate as an outside sales force. They also act as advisers to ceding companies in assessing and locating markets that meet their reinsurance needs.
REINSURANCE INTERMEDIARY ? Any Individual, legal entity, or business trade name, other than an officer or employee of the ceding insurer, who or which solicits, negotiates or places reinsurance cessions or retrocessions on behalf of a ceding insurer, without the authority to bind reinsurance on behalf of such insurer.
A reinsurance broker is an intermediary individual or firm who is paid a fee or commission to find and place new business on behalf of both the insured client and insurer. This can involve negotiating rates or contracts while sourcing the best-suited policies on the market.
A Reinsurance Intermediary Manager is a person who has authority to bind or manage all or part of the assumed reinsurance of a reinsurer and acts as an agent for the reinsurer whether known as a manager or other similar term.
A Reinsurance Intermediary-broker means any person, other than an officer or employee of the ceding insurer, firm, association, or corporation that solicits, negotiates, or places reinsurance cessions or retrocessions on behalf of a ceding insurer without the authority or power to bind reinsurance on behalf of that
Reinsurance intermediaries act as insurance producers in accepting any reinsurance contract or binder on behalf of an insurer.
