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Accredited and Trusteed Reinsurers

  • Various lists are available for download, including Surplus Lines, Purchasing Groups, Accredited and Trusteed Reinsurers, Risk Retention Groups, and Life Settlements ( Surplus Lines and Syndicates Disclaimer: TDI does not license the insurers on this list, nor does the department have the duty to monitor their financial condition. Further, these insurers are not members of the Property and Casualty Insurance Guaranty Association created under Chapter 462 of the Texas Insurance Code.)
  • Other filing requirements are located in Filing Smart
  • The NAIC's Consumer Information Source (CIS) provides information about insurance companies. Access key information about insurance companies, including closed insurance complaints, licensing information and key financial data.

The Company Licensing and Registration Office is responsible for registering accredited and trusteed reinsurers. Accredited and trusteed reinsurers are registered under Texas Insurance Code (TIC) Chapters 492 and 493 and regulations are found in Texas Administrative Code (TAC) Chapter 7. A reinsurer is an insurance company which insures business of another insurance company. Reinsurance contracts exists between the primary insurance company and the reinsurer to "cede" (transfer) business from the insurer to the reinsurer for a fee or commission. Insurers decide to cede individual policies or blocks of policies based on their financial position and expected potential future losses. The term "accredited" refers to the locality of the insurer as being in a foreign jurisdiction, another state or US jurisdiction outside of Texas. "Trusteed" refers to an alien insurer, outside of the US. Both accredited and trusteed reinsurers are registered by Texas to do business in the state and are not considered to be licensed in the admitted market. TAC §7.606 addresses accredited reinsurers while TAC §7.607 addresses trusteed reinsurers. There are also admitted insurance companies which provide reinsurance. Typically the reinsurance provided by accredited and trusteed reinsurers, is unavailable in the admitted market or the limits exceed what the admitted insurer is willing to insure.

TDI Form FIN426, Accredited Reinsurer Checklist, Form R-4 (checklist detailing items needed for initial and annual filing; submit the completed checklist as part of the filing)

TDI Form FIN427, Submission for Reinsurance Accreditation, Form R-1 (form to be submitted for reinsurance accreditation)

TDI Form FIN428, Certificate of Assuming Insurer, Form R-3 (designates Commissioner of Insurance as Attorney for Service; submits to the Commissioner of Insurance to examine its books and records; submits to the jurisdiction of any court of competent jurisdiction in Texas for adjudication of any issues)

TDI Form FIN429, Accredited/Trusteed Reinsurer Business Plan Outline (a guide to key elements that might be included in a 3-year business plan for Accredited and Trusteed Reinsurers). This form is to be submitted with initial application only.

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Last updated: 03/24/2015

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