Brokers, managing underwriters, and reinsurers are subject to a wide variety of licensing and compliance requirements. Summit Re believes in playing by the rules and a level playing field. To that end, we have obtained a wide variety of licenses to meet specific state requirements (e.g., general agency, reinsurance intermediary broker or manager, managing underwriter, general business corporation). Can you imagine selling against an unlicensed HMO? We are aware that some of our competitors have taken shortcuts in these regards on the employer stop-loss and/or HMO reinsurance business. You might ask the sales representatives of other carriers or managing underwriters if they have all the required licenses. You should have them explain how they are licensed and show you a copy. Its only good business to deal with companies which are properly compliant, especially in today's environment of close scrutiny.