NY S00714

Amends Insurance Law Section 2118(e) to remove the requirement that licensees obtain a declination from medical malpractice insurance associations or plans before placing coverage through unauthorized insurers.

Eliminates the previous requirement for declinations specifically for medical malpractice insurance for general hospitals, physicians, and dentists when seeking excess line coverage.

Maintains existing requirements that affirming brokers provide written notice to insureds that placement was made with an unauthorized insurer and disclose that such insurers are not subject to state supervision or insolvency fund protection.

Takes effect immediately upon enactment.