11 CRR-NY 72.4NY-CRR

OFFICIAL COMPILATION OF CODES, RULES AND REGULATIONS OF THE STATE OF NEW YORK
TITLE 11. INSURANCE
CHAPTER III. POLICY AND CERTIFICATE PROVISIONS
SUBCHAPTER B. PROPERTY AND CASUALTY INSURANCE
PART 72. INDEMNIFICATION OF DIRECTORS AND OFFICERS
11 CRR-NY 72.4
11 CRR-NY 72.4
72.4 Minimum schedule.
Type of corporationMinimum retention amountsMinimum coinsurance percentage
IndividualAggregate
(a)For corporations subject to the B.L. or B.C.L. (including insurance corporations, transportation corporations, etc. and with:
(1) assets greater than $20,000,000:$5,000$50,0000.5%
(2) assets greater than $10,000,000 up to $20,000,000:4,00040,0000.4%
(3) assets greater than $5,000,000 up to $10,000,000:3,00030,0000.3%
(4) assets of $5,000,000 or less:2,00020,0000.2%
(b)Corporations subject to the Cooperative Corporations Law:1001,0000.1%
(c)Corporations subject to the Religious Corporations Law:1001,0000.1%
(d)Corporations subject to the N–PCL1001,0000.1%
11 CRR-NY 72.4
Current through May 31, 2021
End of Document