NY A04597

Removes the requirement for licensees to obtain a declination from medical malpractice insurers before placing coverage through excess lines (unauthorized insurers) for general hospitals, physicians, and dentists.

Eliminates medical malpractice insurance from the list of coverage types requiring declinations from appropriate associations or insurers as a condition of procuring excess line insurance.

Maintains existing requirements for affirming brokers to provide written notice to insured parties about unauthorized insurer placement and associated risks, including non-coverage by state insolvency funds.

Effective immediately upon enactment.