Credit for reinsurance ceded definitions
Effective: June 29, 1994; Latest Legislation: House Bill 89 - 120th General Assembly
As used in sections 3901.61 to 3901.65 of te Revised Code:
(A) "Assuming insurer" means an insurance company that accepts all or part of the risk underwritten by a ceding insurer.
(B) "Ceding insurer" means an insurance company that transfers all or part of the risk it underwrites to an assuming insurer.
Official source: Ohio Laws & Administrative Rules (Legislative Service Commission). Reproduced from public-domain Ohio statutes; confirm against the official source for the current text. Not legal advice.