| Accredited Reinsurer Insurance Company |
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| Domestic and foreign insurers doing business in North Carolina can only cede business to reinsurers that are either licensed or accredited in this state per North Carolina General Statute 58-7-21. An accredited reinsurer is an insurance company that is not licensed to write business in North Carolina but assumes business from other insurers that are licensed in the state. |
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In order to be considered for accredited reinsurer status, a company must:
- Maintain a policyholder surplus level of not less than $20,000,000
- Have not had accreditation status denied within the last 90 days
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In order for a reinsurer to be accredited in North Carolina, the company should submit the following:
- Letter requesting accreditation and a nonrefundable filing fee
- A copy of the latest NAIC Annual Statement and Quarterly Statement
- A copy of its Certificate of Authority from its state of domicile
- The form Application for Accredited Reinsurer
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| Any company that has achieved accredited reinsurer status that does not maintain the minimum surplus level may have its accreditation revoked by the Commissioner after notice and the opportunity for a hearing. Click here for a listing of accredited and authorized reinsurers in North Carolina. |
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| Every accredited reinsurer must pay a nonrefundable renewal fee each year in order to retain accreditation. |
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