11 CRR-NY 27.10NY-CRR

OFFICIAL COMPILATION OF CODES, RULES AND REGULATIONS OF THE STATE OF NEW YORK
TITLE 11. INSURANCE
CHAPTER II. AGENTS, BROKERS AND ADJUSTERS
PART 27. EXCESS LINE PLACEMENTS GOVERNING STANDARDS
11 CRR-NY 27.10
11 CRR-NY 27.10
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 of the Insurance Law.
(b) 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.
11 CRR-NY 27.10
Current through November 30, 2020
End of Document