Relating to insurance regulation by the Department of Consumer and Business Services; and prescribing an effective date.

Directs Department of Consumer and Business Services to study and evaluate requirements to maintain accreditation with National Association of Insurance Commissioners and to submit findings and recommendations for legislation to appropriate committee of Legislative Assembly not later than December 31, 2022. ] Specifies conditions under which assuming insurer may receive credit as asset or reduction in liability for reinsurance ceded by ceding insurer.