How our department monitors insurance market practices
Insurance Company Contract and Rate Filings
DIFS Prohibition Orders for Consumer Finance and Credit Union.
Licensing - Consumer Finance and Mortgage
Consumer Finance and Mortgage Forms
BIDCO and Anti-Redlining Forms.
Statutes, Rules and Regulations
Search is currently unavailable. Please try again later.
The web Browser you are currently using is unsupported, and some features of this site may not work as intended. Please update to a modern browser such as Chrome, Firefox or Edge to experience all features Michigan.gov has to offer.
Under Section 500.1151(d)-(e) in Chapter 11A on Reinsurance Intermediaries of the Michigan Insurance Code of 1956 (Code), being MCL 500.1151, there are two types of reinsurance intermediaries defined as follows:
Reinsurance intermediary-broker means any person, other than an officer or employee of the ceding insurer, who solicits, negotiates, or places reinsurance cessions or retrocessions on behalf of a ceding insurer without the authority or power to bind reinsurance on behalf of that insurer.
[MCL 500.1151(d)].
Reinsurance intermediary-manager means any person who has authority to bind or manages all or part of the assumed reinsurance business of a reinsurer, including the management of a separate division, department, or underwriting office, and acts as an agent for the reinsurer whether known as a reinsurance intermediary-manager, manager, or other similar term. Notwithstanding the above, the following persons are not considered a reinsurance intermediary-manager, with respect to a reinsurer, for the purposes of this chapter:
(i) An employee of the reinsurer.
(ii) A United States manager of the United States branch of an alien reinsurer.
(iii) An underwriting manager that, pursuant to contract, manages all the reinsurance operations of the reinsurer, is under common control with the reinsurer, subject to chapter 13, and whose compensation is not based on the volume of premiums written.
(iv) The manager of a group, association, pool, or organization of insurers that engage in joint underwriting or joint reinsurance and who are subject to examination by the commissioner of the state where the manager's principal office is located.
[MCL 500.1151(e)].
General Information
Once You Are Licensed
Email any questions about reinsurance intermediary licenses, applications, or related matters to DIFS-LicensingORE@michigan.gov.
