NY A01521

Removes the requirement that insurance brokers obtain a declination from state-established insurance associations before placing medical malpractice coverage with unauthorized (excess line) insurers for general hospitals, physicians, and dentists

Currently, brokers must prove no authorized insurer will provide coverage before seeking excess line insurance for medical malpractice; this bill eliminates that prerequisite

Maintains existing declination requirements for non-commercial motor vehicle liability insurance and insurance that must legally be provided by authorized insurers

Allows medical malpractice insurance for hospitals and healthcare providers to be more easily obtained through the excess line market without additional procedural steps

Takes effect immediately upon passage