Section 27-31B-13
Reinsurance.
THIS SECTION WAS AMENDED BY ACT 2021-162 IN THE 2021 REGULAR SESSION, EFFECTIVE JULY 1, 2021. TO SEE THE AMENDED VERSION, SEE THE VERSION LABELED PENDING.
(a) A captive insurance company may provide reinsurance, as authorized in this title, on risks ceded by any other insurer.
(b) A captive insurance company may take credit for reserves on risks or portions of risks ceded to reinsurers complying with subdivisions (1) through (4) of subsection (c) of Section 27-5-12. A captive insurer shall not take credit for the reserves on risks or portions of risks ceded to reinsurers not complying with subdivisions (1) through (4) of subsection (c) of Section 27-5-12.
(c) For all purposes of this chapter, insurance by a captive insurance company of any workers' compensation qualified self-insured plan of its parent and affiliates shall be deemed to be reinsurance.
(Act 2006-509, p. 1153, §1.)