(1) For at least ten (10) years after expiration of each contract of reinsurance transacted by the reinsurance intermediary broker, the reinsurance intermediary broker shall keep a complete record for each transaction showing:
(a) The type of contract, limits, underwriting restrictions, classes or risks, and territory;
(b) Period of coverage, including effective and expiration dates, cancellation provisions, and notice required for cancellation;
(c) Reporting and settlement requirements of balances;
(d) Rate used to compute the reinsurance premium;
(e) Names and addresses of assuming reinsurers;
(f) Rates of all reinsurance commissions, including the commissions on any retrocessions handled by the reinsurance intermediary broker;
(g) Related correspondence and memoranda;
(h) Proof of placement;
(i) Details regarding retrocessions handled by the reinsurance intermediary broker, including the identity of retrocessionaires and percentage of each contract assumed or ceded;
(j) Financial records, including, but not limited to, premium and loss accounts; and (k) When the reinsurance intermediary broker procures a reinsurance contract on behalf of an authorized ceding insurer:
1. Directly from any assuming reinsurer written evidence that the assuming reinsurer has agreed to assume the risk; or 2. If placed through a representative of the assuming reinsurer, other than an employee, written evidence that the reinsurer has delegated binding authority to the representative;
(2) The insurer shall have access to and the right to copy and audit all accounts and records maintained by the reinsurance intermediary broker related to its business in a form usable by the insurer.