Reciprocal Jurisdiction Reinsurer

Reciprocal Jurisdiction Reinsurer

A reciprocal jurisdiction is a non-U.S. jurisdiction that is subject to the in-force covered agreement with the United States and the European Union pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act that addresses the elimination of collateral requirements as a condition for entering into a reinsurance agreement with a ceding insurer domiciled in Arkansas or for allowing the ceding insurer to recognize credit for reinsurance.
In order to obtain certification in Arkansas as a Reciprocal Jurisdiction Reinsurer, a Uniform Application Checklist for Reciprocal Jurisdiction shall be submitted along with any other reasonable requirements deemed necessary for certification by the Commissioner. An application consists of a completed checklist, and all required corresponding exhibits. Applications can be submitted electronically to Insurance.Finance@arkansas.gov .

Please see Ark. Code Ann. §§ 23-62-305(f), and Arkansas Insurance Department Rule 65 §9 for the applicable law and regulation on Reciprocal Jurisdiction reinsurers. Pursuant to statute, the Commissioner shall create and publish a list of reciprocal jurisdictions with regard to reciprocal jurisdiction reinsurers.

Forms for Reciprocal Jurisdiction Reinsurers

Uniform Checklist for Reciprocal Jurisdiction Reinsurers   

• Applicants shall submit this uniform checklist and include all corresponding documentation/forms detailed in the checklist for both the initial and renewal applications.
• If the applicant is requesting Arkansas to be the lead state, Part I should be completed. If applicant is recognized as a reciprocal jurisdiction reinsurer in another NAIC accredited jurisdiction, only Part II should be completed.

Form RJ-1

Form RJ-F     Instructions for RJ-F form

Form RJ-S     Instructions for RJ-S form