N.Y. Comp. Codes R. & Regs. tit. 11 § 27.10

Current through Register Vol. 46, No. 43, October 23, 2024

Section 27.10 - Policy form compliance

(a) A policy issued by an unauthorized insurer pursuant to this Part is exempt from the provisions of Part 71 (Regulation 107) and Part 73 (Regulation 121) of this Title, except for a group policy issued pursuant to section 3455 or 3458 of the Insurance Law.

(b) When the insured's home state is this State, a complete copy of any liability insurance policy shall be maintained by the excess line broker, provided, however, the broker need not maintain a copy of any policy that provides liability coverage:

(1) only on an occurrence basis; and

(2) only with unlimited legal defense costs outside the limits of liability stated in the policy.

N.Y. Comp. Codes R. & Regs. Tit. 11 § 27.10

Amended, New York State Register October 8, 2014/Volume XXXVI, Issue 40, eff. 10/8/2014

Amended New York State Register October 25, 2017/Volume XXXIX, Issue 43, eff. 10/25/2017

Amended New York State Register February 8, 2023/Volume XLV, Issue 06, eff. 2/8/2023