14VAC5-300-100. Credit for reinsurance required by law
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Virginia Administrative Code › Title 14 Insurance › Agency 5 State Corporation Commission, Bureau of Insurance › Chapter 300 › 14VAC5-300-100
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When an assuming insurer fails to meet the requirements of § 38.2-1316.2 of the Act, the ceding insurer may take credit pursuant to subdivision 1 of § 38.2-1316.4 of the Act but only with respect to the insurance of risks located in jurisdictions where such reinsurance is required by the applicable law or regulation of that jurisdiction. As used in this section, "jurisdiction" means any state, district or territory of the United States and any lawful national government.
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