NY S01318

Modifies Insurance Law Section 2118 to require licensees and affirming brokers to record the name and date of declination for each authorized insurer declining a risk on the affidavit.

Requires recording of the National Association of Insurance Commissioners code and information relied upon to support the broker's belief that the insurer might consider writing the coverage type or class of insurance involved.

Exempts brokers from recording the representative's name, affiliation, or the reason for declination on the affidavit.

Takes effect on the same date as the 2022 law (S.8127/A.9088) that simplified excess line insurance placement affidavit requirements.