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FORM CR-1: CERTIFICATE OF CERTIFIED REINSURER (Department of Technology and Information)

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1351 West North Street, Suite 101, Dover, DE 19904 •
insurance.delaware.gov
(302) 674-7300 Dover • (302) 739-5280 fax • (302) 577-5280 Wilmington
STATE OF DELAWARE
DEPARTMENT OF INSURANCE
OFFICE OF THE
COMMISSIONER
FORM CR-1
CERTIFICATE OF CERTIFIED REINSURER
I, , ,
(NAME OF OFFICER) (TITLE OF OFFICER)
(EMAIL ADDRESS)
of , the assuming insurer
(NAME OF ASSUMING INSURER), NAIC/FEIN
under a reinsurance agreement with one or more insurers domiciled in the State of Delaware, in order to
be considered for approval in this state, hereby certify that
(“Assuming Insurer”):
(NAME OF ASSUMING INSURER), NAIC/FEIN
1.
Submits to the jurisdiction of any court of competent jurisdiction in the State of Delaware 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 court in the event of an appeal. 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 state 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 their disputes if
such an obligation is created in the agreement.
2.
Designates the Insurance Commissioner of the State of Delaware as its lawful attorney upon whom
may be served any lawful process in any action, suit, or proceeding arising out of the reinsurance
agreement instituted by or on behalf of the ceding insurer.
3. Agrees to provide security in an amount equal to 100% of liabilities attributable to U.S. ceding
insurers if it resists enforcement of a final U.S. judgment or properly enforceable arbitration award.
4. Agrees to provide notification within 10 days of any regulatory actions taken against it, any change
in the provisions of its domiciliary license or any change in its rating by an approved rating agency,
including a statement describing such changes and the reasons therefore.
1351 West North Street, Dover, DE 19904 •
insurance.delaware.gov
(302) 674-7300 Dover • (302) 739-5280 fax • (302) 577-5280 Wilmington
5. Agrees to annually file information comparable to relevant provisions of the NAIC financial
statement for use by insurance markets in accordance with 18 Del. Admin. C. § 1003-8.0.
6. Agrees to annually file the report of the independent auditor on the financial statements of the insurance
enterprise.
7. Agrees to annually file audited financial statements, regulatory filings, and actuarial opinion in
accordance with 18 Del. Admin. C. § 1003-8.0.
8. Agrees to annually file an updated list of all disputed and overdue reinsurance claims regarding
reinsurance assumed from U.S. domestic ceding insurers.
9. Is in good standing as an insurer or reinsurer with the supervisor of its domiciliary jurisdiction.
10. Agrees to post 100% security upon the entry of an order of rehabilitation or conservation against the
ceding insurer or its estate.
11. Commits to comply with other requirements deems necessary for certification by the certifying state.
12. Commits to notify the Commissioner of any future proposed participation in any solvent scheme of
arrangement, or similar procedures, as soon as practicable.
Dated:
(NAME OF ASSUMING INSURER)
BY:
(NAME OF OFFICER)
(TITLE OF OFFICER)
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FORM CR-1: CERTIFICATE OF CERTIFIED REINSURER (Department of Technology and Information)

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Completed 20 July 2020

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