No credit shall be allowed as an admitted asset or as a deduction from liability to any ceding company for reinsurance unless the reinsurance is payable by the assuming company on the basis of the liability of the ceding company under the contract or contracts reinsured without diminution because of the insolvency of the ceding company.
R.I. Gen. Laws § 27-1.1-9
Asset or deduction from liability
P.L. 2015, ch. 82, § 18; P.L. 2015, ch. 105, § 18.
Official source: Rhode Island General Assembly. Reproduced from public-domain Rhode Island statutes; confirm against the official source for the current text. Not legal advice.