(1) (a) A nonrenewal, cancellation, or revision of ceded reinsurance agreements is not subject to the reporting requirements of Section 31A-5-701 if: (i) the nonrenewal, cancellation, or revision is not material; or (ii) with respect to a property and casualty business, the insurer's total ceded written premium, on an annualized basis, is less than 10% of its total written premium for direct and assumed business; or (iii) with respect to a life, annuity, and accident and health business, the total reserve credit taken for business ceded, on an annualized basis, is less than 10% of the statutory reserve requirement prior to a cession. (b) For purposes of this part, a material nonrenewal, cancellation, or revision is one that affects: (i) with respect to a property and casualty business: (A) more than 50% of the insurer's total ceded written premium; or (B) more than 50% of the insurer's total ceded indemnity and loss adjustment reserves; (ii) with respect to a life, annuity, and accident and health business, more than 50% of the total reserve credit taken for business ceded, on an annualized basis, as indicated in the insurer's most recent annual statement; or (iii) with respect to either property and casualty or life, annuity, or accident and health business: (A) an authorized reinsurer representing more than 10% of a total cession is replaced by one or more unauthorized reinsurers; or (B) previously established collateral requirements have been reduced or waived as respects one or more unauthorized reinsurers representing collectively more than 10% of a total cession. (2) (a) The following information is required to be disclosed in any report filed pursuant to Section
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