Form E-RJ-1 (v 20211101)
CERTIFICATE OF REINSURER DOMICILED IN RECIPROCAL JURISDICTION
I, ____________________________________________________ , _________________________________________
(name of officer) (title of officer)
of __________________________________________________________________________ , the assuming insurer
(name of assuming insurer)
under a reinsurance agreement with one or more insurers domiciled in ,
(name of state)
in order to be considered for approval in this state, hereby certify that
________________________________
______________________________________________ ("Assuming Insurer"):
(name of assuming insurer)
1. Submits to the jurisdiction of any court of competent jurisdiction in Arizona for the adjudication of any issues arising out of the reinsurance agreement,
agrees to comply with all requirements necessary to give such court jurisdiction, and will abide by the final decision of such court or any appellate
c
ourt in the event of an appeal. The assuming insurer agrees that it will include such consent in each reinsurance agreement, if requested by the
Director of the Arizona Department of Insurance and Financial Institutions ("Director"). Nothing in this paragraph constitutes or should be understood
to constitute a waiver of assuming insurer’s rights to commence an action in any court of competent jurisdiction in the United States, to remove an
action to a United States District Court, or to seek a transfer of a case to another court as permitted by the laws of the United States or of any stat
e
in the United States. This paragraph is not intended to conflict with or override the obligation of the parties to the reinsurance agreement to arbitrate
t
heir disputes if such an obligation is created in the agreement, except to the extent such agreements are unenforceable under applicable insolvency
or delinquency laws.
2. Designates the Director as its lawful attorney in and for the State of Arizona upon whom may be served any lawful process in any action, suit or
proceeding in this state arising out of the reinsurance agreement instituted by or on behalf of the ceding insurer. A copy of lawful process against or
affecting the Assuming Insurer served upon the Director should be mailed to:
______________________________________________________________________________________________
(name of person)
________________________________
______________________________________________________________
(name of company/entity/firm)
______________________________________________________________________________________________
(mailing address)
______________________________________________________________________________________________
(country, state and zip code)
3. Agrees to pay all final judgments, wherever enforcement is sought, obtained by a ceding insurer, that have been declared enforceable in the territory
where the judgment was obtained.
4. Agrees to provide prompt written notice and explanation if it falls below the minimum capital and surplus or capital or surplus ratio, or if any
regulatory action is taken against it for serious noncompliance with applicable law.
5. Confirms that it is not presently participating in any solvent scheme of arrangement, which involves insurers domiciled in Arizona. If the assuming
insurer enters into such an arrangement, the assuming insurer agrees to notify the ceding insurer and the Director, and to provide 100% security t
o
t
he ceding insurer consistent with the terms of the scheme.
6. Agrees that in each reinsurance agreement it will provide security in an amount equal to 100% of the assuming insurer’s liabilities attributable t
o
r
einsurance ceded pursuant to that agreement if the assuming insurer resists enforcement of a final U.S. judgment, that is enforceable under t
he
law of the territory in which it was obtained, or a properly enforceable arbitration award whether obtained by the ceding insurer or by its resolution
estate, if applicable.
7. Agrees to provide the documentation in accordance with AAC R20-6-A1606(C)(5), if requested by the Director of Insurance and Financial
Institutions.
Dated:
(name of assuming insurer)
BY:
(signature of officer)
(title of officer)
Send the document to financialfilings@difi.az.gov.
