Florida Statutes, Rules, and Regulations Common to All Lines
In a reinsurance arrangement, how are the two insurers described?
Answer and explanation
Answer: B. Section 624.610 speaks of credit for reinsurance being allowed a ceding insurer on account of reinsurance ceded to an assuming insurer, so the ceding insurer passes risk along and the assuming insurer takes it on. The statute prescribes no equal-sharing formula and does not fix the domicile of either party.Source: Fla. Stat. § 624.610 — 624.610(2)-(3)(a), Ceding and assuming insurers
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