Segregation of premium requires reinsurance brokers to handle premium and claims funds according to prescribed Authority requirements. Segregation of premium governs funds handled by registered reinsurance brokers and composite brokers under reinsurance contracts. Where permitted by ... Summary
Segregation of premium requires reinsurance brokers to handle premium and claims funds according to prescribed Authority requirements.
Segregation of premium governs funds handled by registered reinsurance brokers and composite brokers under reinsurance contracts. Where permitted by mutual agreement or international market practice, a broker may collect premium for remittance to a reinsurer or receive claims from a reinsurer for onward payment to an insurer. Such collected money must be handled in the manner specified by the Authority.
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