Amendment #1 to H4326

Reinsurance Agreements

Mr. Costello of Newburyport moves to amend the bill by adding the following section:-

“SECTION 7:  Reinsurance Agreements Affected. Credit for reinsurance ceded to a certified reinsurer is allowed only for reinsurance contracts entered into or renewed on or after the effective date of the certification of the assuming insurer by the insurance commissioner.”