Regulation .13 Arrangements with Other Insurers.
Regulation .13 Arrangements with Other Insurers.LinkCopy Citation
A.
The Fund is authorized to enter into reinsurance and coinsurance arrangements, as approved by the Secretary.
B.
The amount of any reinsurance or co-insurance may decrease the amount of the Fund reserves pledged to the Fund pool insurance policy only if the:
(1)
Fund does not retain contingent liability under the reinsurance or co-insurance arrangement; or
(2)
Reinsurer or coinsurer is a:
(a)
Federal agency, or
(b)
Private insurer having surplus as regards policy holders equal to at least $15,000,000, which is approved by FNMA or FHLMC.