(12)(a)Every insurer shall maintain the following accounts in his ledgers, namely:--(i)Re-insurance Accepted Account;(ii)Re-insurance Commission Paid Account;(iii)Re-insurance Claims Payable Account;(iv)Re-insurance Claims Paid Account;(v)Re-insurance Ceded Account;(vi)Re-insurance Commission Received Account;(vii)Re-insurance Claims Recoverable Account;(viii)Re-insurance Claims Recovered Account;(b)An insurer shall be deemed to have complied with the provisions of clause (a) if the information required is otherwise readily available from the existing books and accounts of the insurer.]
