Accredited reinsurers must meet and maintain compliance with the guidelines for registration under North Carolina General Statute 58-7-21(b)(2).
Filing a Registration Application
All companies requesting registration as an accredited reinsurer must:
- Submit the Application for Accredited Reinsurer.
- Maintain capital and surplus of $20,000,000 or higher.
- Submit a copy of its Certificate of Authority from its state of domicile.
- Submit a copy its two most recent annual statements.
- Submit a certified copy of its latest Report on Examination.
- Submit its CPA report for the most recent year.
- Submit actuarial certification of loss reserves and loss adjustment expenses for the most recent year.
- Submit a nonrefundable filing fee. (Schedule of Fees)
Every accredited reinsurer that is registered in North Carolina must submit a renewal application and pay a nonrefundable renewal fee by March 1 each year in order to retain registration.