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NY S08127
Bill
Status
Passed
12/30/2022
Primary Sponsor
Neil Breslin
Click for details
AI Summary
- Amends Insurance Law Section 2118 to modify affidavit requirements for excess line insurance placements by licensees and affirming brokers
- Requires affidavits to record only the name and National Association of Insurance Commissioners code of each authorized insurer that declines a risk
- Requires affidavits to include information relied upon for the licensee's belief that an authorized insurer might consider writing the coverage or class of insurance involved
- Prohibits reporting of any additional diligent effort information on the affidavit beyond the specified requirements
- Takes effect immediately, with the amendments expiring when the existing subsection expires
Legislative Description
Simplifies the excess line insurance placement affidavit requirements.
Last Action
APPROVAL MEMO.110
12/30/2022
Committee Referrals
Insurance3/23/2022
Insurance1/25/2022
Full Bill Text
No bill text available